Paine Electronics is now employee owned
Paine Electronics, a manufacturer of pressure transducers, transmitters and temperature products, announced today its new Employee Stock Ownership Plan (ESOP), effectively making it an employee‐owned company. All qualified employees will now share in the success, growth and prosperity of this 61 year old company.
“We believe that our employees should share in the success of the company in a truly tangible way”. That’s why we created the Employee Stock Ownership Plan (“ESOP”) said Roy Ferguson, the company CEO. “Participating in the ESOP program means that our employees are now part owners of the company and benefit financially for a job well done. In this way, there is direct incentive for employees to work hard and take pride in what they do. Additionally and more importantly, being employee-owned means that Paine Electronics is now owned by the members of our local communities.”
Since 2001 when the company was purchased by the Ferguson Family, the growth, success and demand for its products has grown substantially. With the building and move of the corporate headquarters to Wenatchee in 2003, the company has since expanded and just completed the building and grand-opening of its newly designed Research & Development facility. All in support it’s ever growing customer demands.
Paine Electronics growth and success is due in part to the over 100 employees who now have a greater vested interest in the long term success of the company. The ESOP plan is an addition to the company’s existing successful 401k plan, employee family scholarship opportunities, industry competitive wages and generous health care benefits.
About Paine Electronics: Paine Electronics is an employee-owned manufacturer of pressure transducers, transmitters and temperature products. The company has grown consistently over the past 61 years and has offices in East Wenatchee and Renton Washington. For more information about Paine Electronics, visit them on the web at www.paineelectronics.com
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