PULLMAN — Schweitzer Engineering Laboratories has been named Employee Stock Ownership Company of the Year by the Northwest Chapter of The ESOP Association.
The award is given to companies that exhibit a strong dedication to employee ownership through educating their employee owners and others about the benefits of employee stock ownership plans to employees, communities and the economy.
“SEL’s dedication, innovation and commitment to the (employee stock ownership) culture and business model are a great testament to the power of employee ownership,” said Janeece Higgins, ESOP Association Northwest Chapter president. “The work they have done, both locally and nationally ... will benefit all employee owners.”
The ESOP Association, which includes more than 133 companies and service providers, educates about and advocates for employee ownership. The Northwest Chapter is made up of companies and professional service providers in Washington, Oregon, Alaska, Idaho, Montana and Wyoming.
SEL has been a member of the association for more than a decade.
“We find real value in being part of this association and are truly honored to receive this award,” said Joey Nestegard, SEL chief business and finance officer.
SEL became employee owned in 1994 and transitioned to 100 percent employee ownership in 2009.