-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
SEL Ranks 15th on List of Largest Employee-owned Companies in America
October 16, 2023 | SELEstimated reading time: 1 minute
Schweitzer Engineering Laboratories (SEL), a global leader in products and solutions that protect and control electric power systems, is the 15th largest 100 percent employee-owned company in the United States, according to the National Center for Employee Ownership (NCEO). SEL ranked 20th for companies that are at least 50 percent employee-owned.
The NCEO recently released its 2023 Employee Ownership 100, which ranks the largest majority employee-owned companies in the U.S. To be on the list, companies must be at least 50 percent employee-owned.
SEL has steadily moved up list, rising 29 spots since 2011. The ranking is based on the number of full- and part-time employees.
The Pullman, Washington-based manufacturer first transitioned to employee ownership through an employee stock ownership plan (ESOP) in 1994 and became 100 percent employee-owned in 2009 as part of its long-term strategy for sustained growth, stability and customer focus.
An ESOP is a benefit plan where employees are given ownership interest in a company in the form of shares of stock that are held in trust until they leave the company or retire. A recent study by the NCEO found that ESOPs are “associated with 92 percent higher median household net wealth, 33 percent higher median income from wages, and 53 percent longer median job tenure.”
“There’s no better way to build a successful business than by giving employees a real stake in the company,” said Joey Nestegard, chief business officer at SEL. “The ESOP model is designed for long-term employee engagement, employment and relationships with customers. It’s a model focused on long-term decision making in the best interest of customers, employees, supplier partners and the communities where we do business. Employee ownership creates the kind of stability that helps a business weather storms and leads to long-term growth.”
The companies on the NCEO list employ more than 685,000 people worldwide.
NCEO is a nonprofit organization that conducts original research and shares information about employee ownership.
Suggested Items
America Projected to Triple Semiconductor Manufacturing Capacity by 2032, the Largest Rate of Growth in the World
05/08/2024 | SIAThe Semiconductor Industry Association (SIA), in partnership with the Boston Consulting Group (BCG), released a report on the global chip supply chain that projects the United States will triple its domestic semiconductor manufacturing capacity from 2022—when the CHIPS and Science Act (CHIPS) was enacted—to 2032.
Real Time with… IPC APEX EXPO 2024: The Driving World of e-Mobility with Indium
05/08/2024 | Real Time with...IPC APEX EXPOIn the competitive EV market, technology plays a crucial role facing the challenges of infrastructure. As Brian O'Leary explains, Indium's e-Mobility product suite includes proven solder and thermal management products for high reliability.
Incap Releases Unaudited Business Review for January–March 2024
05/08/2024 | IncapRevenue for the first quarter 2024 amounted to EUR 51.4 million (1–3/2023: EUR 72.2 million). Year-on-year the revenue decreased 29.3%, as expected.
Schweizer Electronic: Business Development in Q1 2024
05/08/2024 | Schweizer Electronic AGThe sales of the SCHWEIZER Group amounted to EUR 39.2 million in the first quarter of 2024 (Q1 2023: EUR 37.1 million). This corresponds to an increase of +5.5 percent compared to the same quarter of the previous year.
Key Tronic Announces Results for Q3 of Fiscal Year 2024
05/08/2024 | Globe NewswireFor the third quarter of fiscal year 2024, Key Tronic reported total revenue of $140.5 million, compared to $164.6 million in the same period of fiscal year 2023.