ATEC Steel recently established an employee stock ownership plan (ESOP). Celebrating its 13th anniversary, ATEC initiated a transition to become a 100-percent employee- owned company. The ESOP will enable the company to continue its strong tradition of providing high-quality talent for many years to come.
"We are very excited to be moving into the next chapter of our company's history in a way that will take our successful business model to a new level," said ATEC President Jeff Heck. "Sharing ownership with employees through our ESOP enhances our strategy of retaining top talent to serve our customers."
An ESOP is a retirement benefit that enables participating employees to earn shares of stock in a company where they work through a qualified trust fund. Through ATEC's new ESOP retirement plan, employees will earn shares of stock in the business each year, becoming beneficial owners in the company.
For more information, visit www.atecsteel.com or call (877) 457-5352.