Torch Technologies, a premier provider of superior scientific and engineering services, today announced the completion of the annual contribution of Torch Technologies stock to our Employee Stock Ownership Plan. This contribution continues Torch’s commitment to achieving full employee ownership.
The company has continued to strengthen our commitment to employee ownership by contributing one million shares of stock, which were distributed to eligible employees via the Employee Stock Ownership Program.
The company had another excellent year in 2006, and as a result, we also funded the ESOP program with additional contributions in 2007 in an effort to accelerate our drive toward 100-percent employee ownership.
Torch’s goal is to reward the people who make us successful by placing the ownership of the company in their hands. We believe that pride in ownership results in a firm commitment to excellence from our employee-owners. This commitment to excellence contributed to extraordinary growth in 2006.