Stellar Industries, Garner, Iowa, an employee-owned and operated manufacturer, is now a 100-percent employee-owned company. Stellar established an Employee Stock Ownership Plan (ESOP) in 1991 with employees recently owning approximately 52 percent of the company’s overall shares. The transition to 100 percent employee-ownership will not impact or change the company’s day-to-day operations, and president Dave Zrostlik will continue with the company in his current role.
“During the past two decades, our employees have enjoyed many positive benefits of employee ownership,” said Zrostlik. “With an ownership mindset, our employees will continue to work together to increase the company’s value. We believe this change to 100 percent ESOP ownership will secure Stellar’s success for years to come. That’s good for employee-owners, good for Stellar and good for the communities where we are located.”
The company has more than 700 employees throughout multiple locations in Iowa, Nebraska and Pennsylvania. The company is currently hiring for several open positions.