CNC Indexing & Feeding Technologies is proud to share the news that the company is now owned by an Employee Stock Ownership Trust (ESOP). In the transaction, current and future employees gain a beneficial ownership interest in the Company without any personal monetary investment.
The goals of the ESOP include:
- Giving back to CNC Indexing & Feeding Technologies’ employees and recognizing their vital role in the company’s success.
- Preserving outstanding customer service by increasing productivity and promoting a sense of ownership among employees.
- Eliminating income tax obligations to federal and state governments, allowing for reinvestment of cash back into the company for future growth opportunities.
- Helping the company retain and recruit top talent.
“From our employees to our customers, this is a win/win for everybody,” sales coordinator Jessica Presutto said.