Cincinnati, Ohio – On April 1, Congressman Steve Chabot (OH-1) visited Holden Industries’ subsidiary Setco Sales in Cincinnati, Ohio. Congressman Chabot was hosted by Jeff Clark, Setco’s President; Greg Hamilton, Holden’s CFO; and JoAnne Williams, Holden’s General Counsel, along with the Setco leadership team and staff. During the facility tour, Congressman Chabot learned about Holden’s employee stock ownership plan (ESOP) and discussed the strengths of employee ownership with several of the 72 employee-owners located at Setco’s Cincinnati facility. They shared their stories about their pride in and the benefits of working for an employee-owned company, which has allowed them to advance their careers and also retire with financial stability.
Congressman Chabot was a cosponsor of pro-ESOP legislation in the 115th Congress. During his visit to Setco, the Congressman stated that he will cosponsor the legislation again when it is introduced in the 116th Congress, stating, “I am proud to support legislation that is important to employee-owned businesses. I will work with my colleagues in Congress to increase its support.”
“As a 100 percent employee-owned company, we are as committed to our employees as we are to our customers,” said CFO Greg Hamilton. “Our more than 1,300 employee-owners at our four manufacturing subsidiaries are leaders in their industries, providing products to businesses worldwide. We thank Rep. Chabot for visiting and hope he was able to see the power of our ESOP.”
Holden Industries, Inc. is a 100 percent employee-owned S-Corporation headquartered in Deerfield, Illinois. Holden Industries, Inc. is the parent of several diversified manufacturing companies: Setco, Nosco, Vac-Con, and Wildeck. Since 1912, Setco has designed, built, and serviced precision spindles and is recognized worldwide as a technical leader in design, engineering, and manufacturing of precision spindles, slides, and spindle-slide combinations. Setco products are used worldwide in a variety of industries, including automotive, aerospace, construction, die/mold, cabling and winding, plastics, woodworking, stone cutting, and general metalworking. Holden has been an active Board member of ESCA since 2013 and an ESCA member since 2009.