SOURCE: Hannibal Industries, Inc.
LOS ANGELES, CA--(Marketwire - Mar 20, 2013) - Today Hannibal Industries celebrates the five-year anniversary of being 100% employee-owned. Under the Employee Stock Ownership Plan (ESOP), the company has experienced 50% sales growth since the ESOP.
"The fact that Hannibal Industries' employees have a stake in the company has created a unique corporate culture of employees committed to their company's success," said Blanton Bartlett, president of Hannibal Industries, Inc. "Hannibal Industries' employee-owners are a driven team, and I am proud to be among them."
Hannibal Industries' ESOP was established on March 20, 2008 when company employees, led by Blanton Bartlett, decided that ownership was a great alternative to having the company sold off to an outsider. As a result, employee ownership has created equitable wealth for employees. 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/.
Hannibal Industries manufacturers steel tube and storage systems in the U.S.A. and it works with some of the world's largest companies. Click here to see a company video: http://www.youtube.com/watch?v=COy3I4FJ2rc
For additional information on Hannibal Industries' offerings, visit http://www.hannibalindustries.com/. Connect with Hannibal Industries on Twitter @HannibalRack, the HannibalRack YouTube channel and on LinkedIn.
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 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.