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Employee-owned CPI turns 20

Chatsworth Products Inc., celebrated 20 years of employee ownership this week.


June 29, 2011  


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Chatsworth Products Inc., celebrated 20 years of employee ownership this week.

The company began as a result of a buyout from a Fortune 500 company when the original employees came together to purchase the operation, adopting an Employee Stock Ownership Plan (ESOP) in the process.  As a result, on June 27, 1991 Chatsworth Products, Inc. began new life as a 100% employee owned company.

Through its ESOP structure, all employees of CPI become beneficial owners.

“As CPI prepares to enter its third decade as an ESOP company, employees reflect with a sense of gratitude and pride at the success and growth that has been experienced during their first two decades,” the company said in a release.