ESOP – Employee Stock Ownership Plan
Press Release May 2012
Yoder Industries, Inc. is excited to announce the transition to a 100% Employee-Owned Company.
Yoder Industries is an aluminum and zinc die casting company located in Dayton, OH. For more than
57 years, spanning three generations of family ownership, the company has served customers nationwide.
Yoder Industries serves primarily second-tier automotive companies and specializes in high-technology
castings, such as engine and transmission electronics and electronic power steering, as well as
long-standing core business in the engine mount industry.
The Employee Stock Ownership Plan (ESOP) brings many benefits to the employees as well as
customers, as employees take a fresh look at how their decisions affect the growth of their company.
A stronger vested interest encourages employees to step forward with new ideas for improvement and
also heightens employee involvement to seek solutions to manufacturing cost drivers. Vice President
and board member Pam Stewart comments, “Yoder Industries, Inc. has been a family business for
three generations, and I feel like we are keeping it in the family. We have dedicated employees and
a strong management team in leadership. Sales are soaring, and the plant is all smiles.
This was a good decision.”
Yoder now joins only 11,000 companies in the United States who have decided to offer company
stock shares to their employees to assist them in building a nest egg for retirement. CEO and Company
Chairman Tim Stewart adds, “Our employees are our greatest asset. Their dedication has been the
backbone of this company, and we are thankful to have the opportunity to give back.”
The Yoder ESOP was designed uniquely with added benefits for the employees. With the average
employment at Yoder being 12 years and utilizing employee hire date for vesting purposes, most
employees were fully vested on day 1. Typically, ESOPs only start the vesting at the date of enrollment,
which can delay full vesting for 1-6 years, so this was a huge benefit. Also, only a minority of ESOPs
are 100% employee-owned, which means employees can receive the maximum number of shares
available, based on years of employment.
Yoder Industries was pleased to tout a record sales year for the history of the company, in 2011,
tipping the scales at over $30 million. President Ron Veverka comments, “We have emerged out
of the 2009 recession as a stronger and more profitable company. We are investing in our employees
and continue our trademark focus on customer satisfaction.”
Previous owners Tim and Pam Stewart are continuing their involvement in the business serving
on the ESOP Board of Directors.
Yoder Industries, Inc. headquarters is located at 2520 Needmore Road, Dayton OH, 45414.