Ohio-based Chain Manufacturer Marks 30 Years as an ESOP Company

Webster Industries sees greater accountability, respect and value as major benefits from the ownership structure

TIFFIN, OH, October 11, 2016 /24-7PressRelease/ -- Industrial chain manufacturer Webster Industries, Inc. is proud to be celebrating its 30th year as an ESOP company.

The decision to create an employee stock ownership plan (ESOP) was largely due to the forward-thinking insight of Jack Norholdt, who succeeded his father John Norholdt Sr., as Webster president in 1956.

Jack was certain that ESOP status would empower everyone at Webster to be invested in the company's success and to act positively for the company's future and, therefore, for each other.

In 1986, Jack Norholdt's successor, Fred C. Spurck, together with a newly formed management team, created an ESOP trust to purchase controlling ownership of Webster.

The new ownership structure and focus fostered the development of the Webster management system, which not only paid off the ESOP debt in just 10 years, but which remains successful and in full force today.

"ESOP ownership creates a unique organizational experience," current President and CEO Andy Felter said. "There is better accountability, more respect and better communication, which enhances value to our people, partners and customers."

About Webster Industries:
Celebrating its 140th year in business, Webster Industries, Inc., headquartered in Tiffin, Ohio, is an innovative leader in the industrial conveyor chain and vibrating conveyor markets and has evolved into a vertically integrated chain producer for the forest products, food, automotive, cement, grain, asphalt, recycling and steel industries. The company now employs more than 300 people nationwide and has facilities in Tiffin, Meridian, Mississippi, and Portland, Oregon. Throughout its years in business, Webster's focus has consistently been on American materials, American labor, and American pride. A strong concentration on customer service, based on seamless vertical integration, ensures Webster clients the highest quality products and service in the industry. With a commitment to quality products, continuous improvement, competitive pricing and superior customer service, Webster will continue to be an innovative leader in the chain industry in the United States and around the world.

Visit the company website at http://www.websterchain.com to learn more.



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