CNC Indexing & Feeding Technologies (Mason, OH) is now owned by an ESOP (Employee Stock Ownership Trust), effective immediately. In this transaction, current and future employees gain a beneficial ownership interest in the company without any personal monetary investment. The ESOP was developed to give back to employees and recognize that they are the drivers of business success. The formation of this ESOP is intended to preserve outstanding customer service through increased productivity and sense of ownership, eliminate income tax obligations to federal and state governments allowing for reinvestment of cash back into the company for future growth opportunities, and retain and recruit top talent. “From our employees to our customers, this is a win/win for everybody,” commented sales coordinator Jessica Presutto.
WD-40 Brand Launches Gear Shop and Summer of Swag Sweepstakes
Official WD-40 Brand merchandise is available to purchase for the first time, and fans of the blue-and-yellow can have a chance to win $100 gift cards each week.
Vention and OnRobot Partner to Bring a One-Stop Shop for Cobot Applications to Manufacturers Globally
Vention Inc. (Montreal, Canada) has announced a partnership with OnRobot A/S (Odense, Denmark). Vention offers a manufacturing automation platform (MAP), OnRobot makes tools for collaborative applications.
Absolute Machine Tools Earns Diamond Partner Status from Mitsubishi Electric Automation
Absolute Machine Tools Inc. (Lorain, OH) has earned the title of Diamond Partner Systems Integrator from Mitsubishi Electric Automation Inc. (Vernon Hills, IL). The partnership is expected to expand opportunities for and bring value to both companies.