Supplier News - March 2012

Spinnaker Coating Is Employee Owned

TROY, OH—Spinnaker Coating, LLC announced that the company has become an S Corporation ESOP, effective February 1, 2012. In the transaction, prior investors sold 100 percent of their ownership interest to a newly created Employee Stock Ownership Trust, allowing current and future employees to gain a beneficial ownership interest in the company without any personal investment.