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Stephenson Equipment Inc. is implementing an Employee Stock Ownership Plan (ESOP) for employees. PHOTO/GETTY IMAGES
Harrisburg company implements ESOP
Listen to this articleHarrisburg-based Stephenson Equipment Inc. (SEI) is celebrating its 66th year in business with the implementation of an Employee Stock Ownership Plan (ESOP) for its employees in Pennsylvania, New York, and Maryland.
ESOPs are reputed to promote a greater desire among employees to be successful, find solutions, strengthen relationships, and attain new goals. SEI President Charlie Walsh said in a statement that adding an ESOP benefit plan will have a positive effect on the company and its customers.
“Our employees support our customers, and they are the most important part of Stephenson Equipment,” said Walsh. “The new ESOP plan will allow our employees to participate and contribute meaningfully to the next chapter of growth in our history. In turn, they will enjoy the rewards of that growth with a very impactful new retirement benefit.”
SEI is an equipment distributor for Cranes, Construction Equipment, and Public Works equipment in the Northeast and Mid-Atlantic. The company operates out of nine locations in Pennsylvania and New York and has an additional service center in Maryland.
