In the midst of celebrating its 60th anniversary, McElroy Metal announced the transition to an employee stock ownership plan (ESOP).
Company president Ian McElroy recently shares: “The one constant trait during our 60-year history is the influence and support of employees. Throughout the country, McElroy Metal is blessed to have loyal employees, including many that have dedicated decades of service to the company. As a show of appreciation to those employees, I am proud to announce McElroy Metal has transitioned into an ESOP company. McElroy Metal employees are now employee owners of McElroy Metal.”
McElroy continues: “McElroy Metal customers have also been a critical element to our success. We appreciate their continued support and business and look forward to a bright future together.”
While the ESOP represents a change of ownership, there is no change in management or leadership. Ian McElroy will continue to serve as the president of McElroy Metal.