L&R has become a 1/3 Employee Owned Company. We started warehousing the funds to make this transition several years ago as it has always been part of our long term goal to give back to our employees by eventually becoming 100% Employee Owned.
The ESOP is a great vehicle to assist in long term retirement planning for our employees, at no cost to them, while creating a tax advantage that makes us more competitive for our customers benefit.
We also recently have added a larger manual Brown & Sharpe CMM in our inspection area to not only allow for inspection of larger parts but to assist in improving efficiencies with our extensive inspection requirements. This is our fourth Brown & Sharpe CMM with two of them having articulating motorized probes.