Mankato, MN -- (SBWIRE) -- 01/29/2015 -- Manufacturers' Pain Points newsletter reported Hannibal Industries strategic and impressive recovery was featured in a LA Times article. Hannibal Industries, a large scale, California-based manufacturing company, became an employee owned company via ESOP (Employee Stock Ownership Plan) in 2008. Then the Recession hit, slashing Hannibal's revenue in half, and causing a 50% reduction in its workforce. Since then, the company successfully fought for survival, reinventing itself with efficiency, innovation and creative repurposing. It is now on target to exceed its pre-2008 revenues of $100million. Steve Rogers, Hannibal's Vice President of Sales believed that Hannibal's resilience was largely due to the fact that through ESOP, the employees own the company. As a result, they were invested in Hannibal's success and survival in every sense of the word.
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Manufacturers' Pain Points, a weekly e-newsletter, sponsored by PDP Solutions, examines the pain points on the manufacturing floor, with employees, and best business practices. Leaders are looking for a competitive advantage and to create a corporate culture which achieves the company's long-term goals and success. Manufacturers' Pain Points brings important and interesting information to those in the manufacturing arena and employee relations. From best practices to industry data, this weekly communique reports trend data, process improvement, and pain points as it relates to the manufacturing sector.
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