United Electric Supply Co., New Castle, Del., was named the 2003 ESOP Company of the Year for the Pennsylvania/Delaware Chapter of the ESOP Association.
“As an employee-owned company, United Electric's 292 employees are all partners in the success of the business,” said Gene Bruni, company president. “We encourage active participation by all employee-owners in running our business to ensure excellent service to our customers.”
United Electric has been 100 percent employee-owned since December 1995. The company embraces a philosophy of teamwork, employee participation and empowerment.
United Electric was founded in 1965 as a general-line electrical distributor servicing industrial, commercial and construction customers in Delaware. Since then, the company has grown to include nine locations throughout Delaware, Pennsylvania, Maryland and New Jersey.
In addition to the ESOP award, United Electric Supply is the three-time recipient of the Delaware Quality Award, which the distributor won in 2002, 1998 and 1995. The firm's Wilmington, Del., branch was the first electrical distributor in North America to meet worldwide accepted requirements for quality assurance and receive ISO 9002 Certification. To date, five of United Electric's nine locations are ISO Certified.
The ESOP Association, headquarters in Washington, D.C., is the only national, nonprofit organization representing companies with employee stock ownership plans (ESOPs). It represents more than 1,200 ESOP companies.
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