PRESS RELEASE: Congressman Loebsack Visits Precision, Inc.

For Immediate Release:

March 27, 2019

Home News PRESS RELEASE: Congressman Loebsack Visits Precision, Inc.

Pella, Iowa – Last Thursday, Congressman Dave Loebsack (D-IA-2) visited Precision, Inc. in Pella, Iowa. Upon his arrival, he visited with a small group of the company’s business leaders. Congressman Loebsack recalled visiting Precision, Inc. and its ESOP story. The congressman is a proponent and supporter of ESOPs and the employee-owners took the opportunity to thank him for his pro-ESOP stance. They also encouraged him to continue to support pro-ESOP legislation and help ESCA to educate new members of Congress on the importance of employee ownership. Each of Precision’s leaders explained why and how it was so important.

Congressman Loebsack met with Precision, Inc.’s executive leadership to discuss workforce policy issues, including STEM initiatives and worker training programs, as well as immigration and tariffs. After meeting with the leaders, the congressman took a tour of one of the factories and then met with a small group of employee-owners to hear first-hand what the impact of being employee-owned is from their perspective.

“I always enjoy touring businesses like Precision, Inc. Having the opportunity to meet with employee-owners gives me the chance to learn more about their company, but also why being an ESOP is important to them,” said Congressman Loebsack. “ESOPs are important for companies to be able to attract and retain top-notch employees and Precision is great example. Since becoming an ESOP, Precision has grown from 300 employees to 1000. Employee-owners at Precision also shared with me how the ESOP has helped them have more pride in the work they do and take ownership over the products they make. I am thankful to Greg Stravers, Senior Vice President of Precision, Inc. for leading the discussion and tour and look forward to seeing Precision’s growth in the future.”

Precision, Inc. has two divisions, Precision Pulley & Idler (PPI) and Precision Food Innovations (PFI), and is a 100 percent employee-owned provider of high performance and innovative conveyor products and solutions. With 27 facilities in 15 locations, each manufacturing plant is dedicated to producing specific products. Precision has 975 employees worldwide and 789 employee-owners within the country, including 671 employee-owners in Iowa. Precision has been an active member of ESCA since 2007.

Congressman Loebsack tours the Precision, Inc. warehouse with employee-owners. Employee-owners speak with Rep. Loebsack in Pella, Iowa. Precision, Inc. employee-owners sit for a roundtable discussion with Rep. Loebsack.

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