Torch Distributes One Million Shares to Employee Stock Ownership Plan (ESOP)
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. The total amount distributed came to one million shares in stock. This contribution continues Torch’s commitment to achieving full employee-ownership.
The company had another excellent year in 2006, and as a result, we funded the ESOP program with additional contributions in 2007 in an effort to accelerate our status toward 100- percent employee-ownership. Our 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.