Blairstown, NJ Packaging Company, James Alexander Corp., Expands Employee Stock Ownership Plan
Profit-Sharing Increase Means Employees Will Own 20% of Company
BLAIRSTOWN, NJ – James Alexander Corporation, a leading manufacturer and contract packager of unit dose dispensing systems for the cosmetic, pharmaceutical and industrial markets, announced an approximately 5% expansion of its Employee Stock Ownership Plan (ESOP) – a qualified, employee benefit plan designed to invest primarily in the stock of the sponsoring employer. Following the profit-sharing increase, which goes into effect this quarter, employees will own approximately 20% of the company. An Employee Stock Ownership Plan was originally introduced at James Alexander Corp. in 2011.
“The expansion of our popular Employee Stock Ownership Plan is one way we are expressing our deep appreciation to our dedicated employees, many of whom have been with us for 20 or 30 years,” said Francesca Fazzolari, President and CEO of James Alexander Corp. “In addition to increasing this well-deserved retirement benefit, the ESOP expansion further secures our future as a locally owned and operated business. Our employees care for James Alexander Corp. like it’s their own business, because it is their own business.”
James Alexander Corp.’s ESOP increase is soundly supported by recent economic data. Conducted in 2013 by the Employee Ownership Foundation, the 22nd Annual Economic Performance Survey found that 94% of executives surveyed found employee ownership through an ESOP “a good business decision that has helped the company.” 77% of respondents indicated the ESOP had positively affected overall employee productivity.
For more information on James Alexander’s unique plastic and glass packages and their broad range of applications, contact the company at 845 Route 94, Blairstown, New Jersey 07825; phone (908) 362-9266; fax (908) 362-5019; or visit their Web site at www.james-alexander.com.