What Happened When Fidelity Manufacturing Changed From Family-Owned To Employee-Owned (IndustryWeek)

In this episode of Great Question: a Manufacturing Podcast, Mitch Twardosky, CEO of Fidelity Manufacturing, discusses the manufacturing company's very recent ownership transition—the owners sold the company to an employee stock ownership plan (ESOP) as a succession plan—while in the midst of significant company growth driven by increasing demand for backup generation. Twardosky shares with IndustryWeek's Jill Jusko how the ESOP almost immediately had employees taking an ownership mindset about what does and does not add value to the company. He also talks about workforce development related to the manufacturer's expansion into Texas, where a 200,000 square-foot plant is about to open.