TRI-CITY ELECTRICAL CONTRACTORS, INC. NOW EMPLOYEE-OWNED

Natasha Washburn

8 years ago

TCE Establishes Employee Stock Ownership Plan (ESOP)

President Jack A. Olmstead, on behalf of the Board of Directors, announced at a company meeting held on March 2 that Tri-City Electrical Contractors, Inc. is now an employee owned company, through a newly established ESOP program.

“We consider our employees to be our greatest asset and we have always rewarded them for good performance. This is a major step on that path, while offering them an additional vehicle for retirement planning. It also helps with organizational performance and provides a strong succession plan for Tri-City.

“What does this mean for our clients? They can expect the same quality, commitment and professionalism that Tri-City has delivered for nearly 60 years. Our employee owned company will continue to grow, with the same culture of respect for clients, community and co-workers, as we expect our ESOP plan to sustain a powerful sense of common purpose among our AMAZING employees.

“I am pleased and proud to be one of the eight hundred employee owners of Tri-City Electrical Contractors, Inc.!”

Employees at announcement meeting. Pictured at the top are President Jack A. Olmstead, Company Founder H.L. “Buddy” Eidel, CFO Mike Germana and Vice President Rance Borderick.