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PLEXSYS Interface Products, Inc. Logo

PLEXSYS Interface Products Announces 100% ESOP Ownership


 
 
PLEXSYS
PLEXSYS
PRLog - Apr. 30, 2014 - CAMAS, Wash. -- CAMAS, WASHINGTON (April 2, 2014):  PLEXSYS Interface Products, Inc. announces the completion of its Employee Stock Ownership (ESOP) restructuring. As of March 31, 2014, the company has purchased the remaining 51% stock owned by the original founders, the final step to complete the transition to a 100% ESOP owned status.

"This has been the goal since the PLEXSYS ESOP was first adopted in September 2011," says President, CEO and Chairman of the Board Tom Jons, "and we have been working hard since then to make full employee ownership a reality. Making each employee part owner of PLEXSYS is a substantial benefit to our employees, as well as our customers."

The PLEXSYS ESOP, similar to a profit-sharing plan, is an employee benefit plan that provides company stock exclusively to employees of the company.  Each year, a certain number of shares are placed into the ESOP pool for distribution.  Shares are allocated to PLEXSYS employees over a number of years and are held in an ESOP trust.  Employees who become vested can then sell their shares back to the company when they retire or leave the company.

PLEXSYS has built a solid business reputation by specializing in modeling and simulation systems and support services for aircraft and airspace control across all military branches.  Jons says “The transition to a 100% ESOP company allows employees to take true pride and ownership of their positions and their future as PLEXSYS owners.”

Founded in 1986, PLEXSYS Interface Products, Inc. concentrations include the development of Live Virtual Constructive (LVC) environment generation technologies used throughout USAF Distributed Mission Operations and other high fidelity simulations. PLEXSYS also provides superior mission brief/debrief technologies, as well as LVC synthetic communications training solutions. By providing a high level of customer support and service, along with superior products, they have become an industry leader.  PLEXSYS Interface Products, Inc. headquarters are in Camas, Washington.

Media Contact
PLEXSYS Interface Products, Inc.
news@plexsys.com

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Source:PLEXSYS Interface Products, Inc.
Location:Camas - Washington - United States
Industry:Aerospace, Government
Tags:synthetic communication, simulation software, esop
Shortcut:prlog.org/12317339
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