ASB’s ESOP Reports Strong Growth
December 9, 2005
CONTACT: Craig McLain, COO
American Solutions for Business
31 East Minnesota Avenue
Glenwood, Minnesota 56334
Phone: 800-721-7110 Fax: 320-634-5054
E-mail: cmclain@americanbus.com
For Immediate Release
Glenwood, MN—American Solutions for Business (ASB) recently completed its fifth year as an employee-owned company and reported to employee owners a 19.35% growth in the company’s share value. ASB has seen substantial increases in share value each year since the establishment of the ESOP (Employee Stock Ownership Plan) in 2000.
Chief Operation Officer, Craig McLain said, “Fiscal year 2004/2005 was a good year for American. Our ESOP share price increased more than 19% over the previous year continuing a five-year trend of double-digit growth in share value. Our sales associates and employees are starting to see real value in the ESOP program. This continued growth comes in part from the unique partnership that we have with our sales associates and the success that they continue to enjoy with their businesses. American’s merger with Health Print, a healthcare-focused distributorship based in Texas is also working well. We are excited about this relationship and the potential of partnering with other companies like Health Print in the future. We are also encouraged by our successes with our Novation program. Last year’s endorsement by Novation, a leading healthcare GPO, continues to open doors for our sales associates.”
Now in its twenty-fifth year, ASB became an employee-owned company when founder and president, Larry Zavadil, made the decision to place the corporation into an ESOP. Under the plan, which is non-contributory, shares in the corporation are purchased annually with corporate profits and are distributed to qualifying sales associates and employees. The move to an ESOP has empowered employee-owners to make decisions that benefit the company.
In November, American was ranked third among the top 100 distributors by Business Forms Systems and Labels magazine with over $231 million in sales. Individual category rankings placed American first in forms sales, first in label and tag sales, second in sales of promotional products and fourth in commercial printing sales.
American Solutions for Business (americanbus.com) is a major distributor of business related items including, but not limited to, business documents, mailing systems, technology, packaging, office supplies, and promotional products. The company is headquartered in Glenwood, Minnesota and has a national sales force of 525 individuals and a staff of nearly 300. Sales and distribution occur in all 50 states, Puerto Rico and Canada.
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