SOURCE: Hannibal Industries, Inc.

Hannibal Industries, Inc.

April 19, 2012 13:28 ET

Hannibal Industries Celebrates Four Years of Employee Ownership

The 100% Employee-Owned Company's Stock Price Continues to Rise

LOS ANGELES, CA--(Marketwire - Apr 19, 2012) - The employees of Hannibal Industries, Inc. gathered on Tuesday at the company's headquarters in the Los Angeles metro area to celebrate the company's four year anniversary of being 100% employee-owned. Over 300 employees and partners in attendance celebrated the fact that the company's share price increased for the third time in the last four years.

Leadership from one of Hannibal Industries' largest customers, Pacific Steel & Recycling, joined in the celebration. Ed Leppien, vice president of steel operations for Pacific Steel & Recycling, addressed the crowd congratulating Hannibal Industries' on its success as an Employee Stock Ownership Plan (ESOP) company. Leppien also talked about Pacific Steel & Recycling's profitable 30 year journey as an ESOP.

"I want to thank Ed Leppien and the leadership team from Pacific Steel & Recycling for celebrating with us, and sharing their encouraging ESOP success stories," said Blanton Bartlett, president of Hannibal Industries, Inc. "As owners of the company, Hannibal Industries' employees have a vested interest in its success and future growth. This is evident in their dedication, performance and commitment to exceeding customer expectations."

Hannibal Industries' ESOP was established in March of 2008. Employee ownership creates equitable wealth for employees, and research on ESOPs has shown that they build successful, competitive companies that often pay higher wages than non-ESOP companies. Additional information on ESOPs can be found on the ESOP Association website here: http://www.esopassociation.org/.

For additional information on Hannibal Industries' complete storage solutions and tubing offering, visit http://www.hannibalindustries.com/.

About Hannibal Industries, Inc.:
Hannibal Industries, Inc., headquartered in the Los Angeles metro area, is a tube and storage system manufacturer with a diverse product line that enables the company to provide turnkey storage systems to the most massive operations in the world. This employee-owned company is the largest U.S. manufacturer of steel pallet rack west of the Mississippi River.

The company's industry leading product offering includes Structural Pallet Rack, Roll-Formed Selective Pallet Rack, Hybrid Systems, Cantilever Systems, Pushback Systems, Pallet Shuttle Systems by Autosat® GlideRack, Pallet Flow Systems, Case Flow Systems and Drive-In Systems. Engineering and design services offered by the company include: system design; seismic engineering; permit administration; in-house installation and custom fabrication. A true innovator, Hannibal Industries was awarded a patent in 2006 for a pallet rack system adjustable safety restraint, and currently has a patent pending for its TubeRack. For additional information, visit www.hannibalrack.com.

Contact Information

  • For more information, contact:
    Hannibal Industries Media Relations/
    Master Plan Communications, Inc.
    Ashton Maxfield
    949.289.6493
    Email Contact