Senator Chris Coons visits employee-owned Baltimore Aircoil Company

August 14, 2012

Home News Senator Chris Coons visits employee-owned Baltimore Aircoil Company

Last week, employee-owners at the Milford, DE plant of Baltimore Aircoil Company (BAC), a subsidiary of ESCA member Amsted Industries, were visited by Senator Chris Coons (D- DE).  Senator Coons spent the afternoon touring the facility and meeting with employee-owners to learn more about their S ESOP structure and how it has benefited their company throughout the years.

The day began with a briefing for the Senator and his staff by Milford Plant Manager, Drew Satorius. He explained the plant’s operations and the successes they have experienced due in large part to their employee-ownership structure. Drew highlighted the significant growth that BAC has had despite the rough economic environment that many BAC’s growth also aligns with the findings of the recent study by Alex Brill, An Analysis of the Benefits S ESOPs Provide to the U.S. Economy and Workforce.


The study shows surveyed S ESOP companies were able to grow jobs an astonishing 60 percent during the past ten years, while employment in the rest of the private economy remained largely flat. manufacturers have been struggling with. They have continued to hire and maintain employee’s because of the culture of ownership that their ESOP creates.

During the tour of the facility Senator Coons saw the daily workings of the company and recognized much of the work being done given his prior private sector experience working for a large Delaware-based textiles manufacturer. He is also familiar with the ESOP structure as some of his family members work for employee-owned companies. Throughout the visit Senator Coons noted the importance of making the case for S ESOPs in the broader tax reform debate.

The Senator finished up the afternoon by meeting with two dozen employee-owners to hear first-hand the importance of employee-ownership in their lives. They asked him questions on a number of topics and he was pleased to hear of another firm that embodies the ownership culture and provides a secure retirement for its employee-owners.

ESCA thanks the employee-owners at Baltimore Aircoil for hosting the Senator and looks forward to continuing to engage Sen. Coons and his staff in support of S ESOPs.

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