MFG Tray Transitioning to an Worker-Owned Enterprise
- MFG Tray celebrated its seventieth anniversary this 12 months by transitioning into an employee-owned (ESOP) firm.
- MFG Tray spun off from Molded Fiber Glass Corporations, based by Robert Morrison, in 1952 and makes a speciality of trays, bins and different merchandise for the foodservice business.
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MFG Tray, headquartered in Linesville, Pennsylvania, celebrated its seventieth anniversary this 12 months with a transfer that may make a constructive distinction within the lives of its workers and the native financial system for many years to come back: As of October 1, it’s transitioning into an employee-owned firm.
MFG Tray, which makes high-strength, glass-reinforced composite containers, trays, bins, flats and totes, for the foodservice business, was based in 1952 as a spin-off from Molded Fiber Glass Corporations (MFG). MFG Tray finally grew to become one in all 10 entities owned by MFG.
MFG itself launched in Ashtabula, Ohio, in 1948. Now, after 74 years of personal possession, MFG’s founders, the Morrison household, have bought 100% of its shares to the MFG Worker Inventory Possession Plan (ESOP), transitioning it to a 100% employee-owned firm, in response to a press launch.
MFG Tray manufactures all kinds of merchandise for the pharmaceutical, medical, farming and hashish industries. For pizza professionals, although, the corporate is greatest recognized for its high-quality dough bins, proofing boards, pan extenders, trays and associated merchandise.
Since its founding by entrepreneur Robert S. Morrison (1909–2002), MFG has grown to be one of many largest native employers within the space, spanning 4 generations of the Morrison household over the previous seven a long time.
When MFG opened its doorways, a small inventive group labored diligently to determine one of the simplest ways to mass-produce the primary polyester resin and fiberglass merchandise. In 1953 MFG was chosen to fabricate fiberglass physique components for the brand new Chevrolet Corvette. This transfer put MFG on the map as a major participant out there and launched a sequence of different “firsts,” together with the creation of the primary fiberglass boats, high-volume truck and tractor components, bakery trays, concrete varieties and satellite tv for pc dishes, to call a couple of.
These early successes allowed MFG to spin off specialised divisions, like MFG Tray, to assist the ever-growing demand for fiberglass.
“It’s not frequent information that fiberglass containers outperform and outlast plastic, steel and wooden containers or that fiberglass containers combine seamlessly into present materials dealing with operations,” Celena Davis, MFG Tray’s normal gross sales supervisor, stated.
The corporate’s tagline, “The fabric issues in materials dealing with,” can be its anthem, Davis stated. “Our group takes nice satisfaction in arming our shoppers with a brand new lineup of containers, understanding it’s going to instantly up their recreation and allow them to kick the competitors to the curb.”
The Morrison household’s entrepreneurial spirit, dedication to buyer satisfaction and enterprise integrity lives on via MFG Tray’s devoted workers, the corporate stated. The change in share possession from Morrison members of the family to the ESOP doesn’t change contractual relationships or enterprise operations; as a substitute, it advantages and rewards your complete group straight devoted to producing high-quality fiberglass merchandise.
John Thompson, MFG Tray’s president and normal supervisor, famous that any dialogue on the transition to an ESOP should first start with a heartfelt expression of gratitude.
“Our group is extremely grateful for the Morrison, Warner and Raffa households’ assist over the previous seven a long time,” Thompson stated. “Below their possession, MFG Tray teammates grew to become part of their prolonged household—a uncommon factor in right now’s aggressive enterprise world. We sincerely respect all they’ve executed for our operation, and we want them a blessed future.”
“Trying forward, we’re excited to start the transition to an ESOP and for its potential,” Thompson added. “Robert Morrison wove spirit, dedication and integrity into MFG, and now it’s as much as us to maintain these ideas within the forefront. Thankfully, we have now one of the best group within the business. They don’t seem to be solely prepared for the problem however gifted sufficient to develop and increase MFG Tray’s operations and footprint for generations to come back.”