100% Employee Owned and Operated
Founded in 1934, originally a third-generation family-owned business, in 2008 Remington Products became an ESOP and is now 100% Employee-Owned. An Employee Stock Ownership Plan (ESOP) is a retirement program that provides employees with stock ownership in the company at no up-front costs. After a short vesting period, each employee becomes a part-owner and receives company shares. Everyone is incentivized to contribute to a better working environment and grow the business.
Our culture of employee ownership is key to our success and empowers employees’ involvement and performance. It is our mission to do what is right for our employees, customers, vendors, the community and the environment. Our business practices are based on a set of core values focusing on quality, continuous improvement, honesty, responsibility, and sustainability. As we grow and prosper as a US manufacturer, so do our employee-owners and communities.
There are close to 7,000 ESOP companies nationwide. Over the last three decades, considerable research into the impact of employee ownership on companies and employees indicates that employee ownership works well for both.
On average, ESOP companies show improved performance and results. Studies of ESOPs in closely held companies show that, relative to comparable companies, ESOP companies’ sales, employment and productivity grow about two percent to three percent faster per year after they set up an ESOP than they had been growing relative to the same companies before the ESOP.
For more information about ESOPs please visit the National Center for Employee Ownership www.nceo.org.