2008 Employee Owner of the Year

Amerequip celebrates 10 years of ESOP (Excerpt from Tri-County News, March 20, 2008)

Bollis named 2007 Employee Owner of the Year (Excerpt from Tri-County News, May 2007)

Amerequip Celebrates 9th Year of Employee Ownership (Excerpt from Tri-County News, Feb. 2007)

Amerequip Finds Formula Which Works (Excerpt from Tri-County News, Feb. 2006)

Plant Manager Added in Kiel (Excerpt from Tri-County News, Feb. 2006)

Workforce Back Over 200 (Excerpt from Tri-County News, Feb. 2006)

Produces Many Parts, Components (Excerpt from Tri-County News, Feb. 2006)

Amerequip VP Worked His Way Up (Tri-County News, Feb. 2006)

Amerequip Celebrates 7th Year of Employee Ownership- (Tri-County News, March 2005)

Hagenow named 2003 Employee Owner of the Year - (Tri-County News, May 2004)

Trade magazine, Construction Equipment Distribution, quotes Amerequip's VP of Sales and Marketing - (Construction Equipment Distribution, Nov. 2003)

Amerequip's VP of Sales and Marketing is quoted in OEM Off-Highway - (OEM Off Highway, July 2003)

Trade magazine, Construction Equipment Distribution, quotes Amerequip's VP of Sales and Marketing - (Construction Equipment Distribution, June 2003)

Major Equipment Investment in New Holstein Plant - (Tri-County News, Mar. 2003)

Amerequip Celebrates Fifth Year of Employee Ownership
(Tri-County News, Feb. 2003)

Original Amerequip Employees Honored for 20 Years of Service
(Tri-County News, Jan. 2003)

Congressman Tom Petri Visits Amerequip
(Dec. 2002)

Wrong Fix? Amerequip Employees Say Congress' Haste to Patch Enron Mess Can Cause Other Problems (Tri-County News, April 2002)

Amerequip Celebrates Employee Ownership Month
(Oct. 1999)

Amerequip Adopts Employee Stock Ownership Plan
(Nov. 4, 1998)

2008 Employee Owner of the Year
Laura Purdy, production supervisor was recently honored as the 2008 Employee Owner of the Year by the Wisconsin Chapter of The ESOP Association.

The award was presented by J. Michael Keeling, president of The ESOP Association, at the Wisconsin Chapter meeting held on April 15.

Individuals are nominated for this award and selection is based on numerous criteria.  Laura has been active on the Amerequip ESOP Communications Committee.  She completed four years on the committee and in that time had served as secretary and chairperson.  Laura has been very involved in planning various ESOP events for Amerequip. She has been a presenter at both the Wisconsin Chapter meetings and the national Annual Conference of The ESOP Association in Washington, DC.  In the community, Laura is active as a volunteer for various community events.  She is a Junior Achievement volunteer and a Big Brothers and Big Sisters volunteer.

Amerequip celebrates 10 years of ESOP

“Top Ten” was the theme for the evening as participants of the Amerequip Employee Stock Ownership Plan (ESOP) gathered at Millhome Supper Club on February 21, for their annual meeting and dinner.

Mike Festge, president of Amerequip, welcomed attendees.  A financial review and preview of the past year going into the new year was presented by Gary Brochtrup, VP/controller.

Guests were entertained by “She Thinks My Tractor’s Sexy”, a tractor assembly video put together by Jamie Prange, to the music of the popular country song.  Jamie also presented several Top 10 lists in David Letterman style.  Sharon Hagenow presented a walk down memory lane with the Top Stories of the First 10 Years of Amerequip’s ESOP.

Popular every year is the Guess-The-Share Value Contest.  This year’s winner was Dan Reichardt, receiving a tank of gas from a local supplier.  The evening concluded with the distribution of participant statements. (top)

Bollis Named 2007 Employee Owner of the Year
Betty Bollis, cycle count coordinator of Amerequip Corporation, was recently honored as the 2007 Employee Owner of the Year by the Wisconsin Chapter of The ESOP Association. 

Individuals are nominated for this award and selection is based on numerous criteria.  Betty has been active on the Amerequip ESOP Communications Committee.  She completed three years on the committee and in that time had served as secretary and chairperson.  During that time, she spearheaded programs such as the “Get to know your fellow employee”.  Betty also helped with Employee Ownership Month observances at Amerequip by planning and attending events.  After her term was up on the Amerequip committee she moved on to the Wisconsin Chapter Committee and became one of the vice presidents on the Wisconsin Chapter Executive Committee.

Along with fellow Amerequip employees she has been involved in providing letters and faxes, has attended full day lobby sessions, and has secured speakers from the local Representative’s office to speak at meetings.  Betty has attended the 2005 & 2006 Annual Conferences, dinners and officers’ meetings to continue in bringing back to Amerequip the knowledge of fellow ESOP companies and their success stories. (top)

Amerequip celebrates 9th year of Employee Ownership
Participants of the Amerequip Employee Stock Ownership Plan (ESOP) held their annual meeting and dinner at the Altona Supper Club in New Holstein on February 8.  Members and their guests were invited to tour the facilities at the Amerequip plant 1 location.  Along with the additions of new lasers, there have been ongoing upgrades to the plant.

Mike Festge, Amerequip president, brought the meeting to order.  Gary Brochtrup, VP Controller, presented a financial review and preview of the past year going into the new year.  An informal panel comprised of Brochtrup along with Craig Callewaert, VP Engineering; Deon Carriere, VP Sales & Marketing; Mike Vander Zanden, VP Operations and Mike Festge challenged each other with observations from the financial review/preview.  The audience was encouraged to comment and ask questions.

Charlie Hoke, member of the board of directors, offered his perspective on the past year and the challenges and opportunities for the coming year.

Dinner followed and light-hearted fun with a guess the baby contest, hosted by Sharon Hagenow. Amy Jandry presented a slide show of Amerequip celebrating October ESOP Month.

Dale Patek, ESOP Communications Committee chairperson, spoke of the 2006 activities of the committee and the focus for 2007.  Patek also introduced the NCEO (National Center for Employee Ownership) on-line training that is available to all participants.

Each year, ComStock Valuation Advisors, Inc. does a valuation of the company to determine the fair market value of the firm and the resulting value per share.  Jim Ahern, ComStock representative, explained the process of valuation and presented Terry Schwalenberg with a prize for submitting the guess closest to the current share value. (top)

Amerequip Finds Formula Which Works
At a time when U.S. manufacturers are supposed to be struggling because of global competition, Amerequip Corporation of Kiel and New Holstein is telling a different story.It is a good story, filled with news of plants coming back to life, hundreds of thousands of dollars being spent on state-of-the-art equipment, and employment levels steadily rising.So how are they doing it? “Amerequip has continued to walk the walk,” said Deon M. Carriere, vice president of sales and marketing, “We’ve proven day in and day out that we can do what we say we can do. Amerequip is the best kept secret in the market,” he added. “It comes down to lead time and responsiveness both in engineering and production.”

Good news abounds these days in every Amerequip location-at its manufacturing facility and offices in Kiel as well as its two plants and its engineering facility in New Holstein. (top)

Plant Manager Added in Kiel
An increased work load has led to the addition of a plant manager in Kiel, additional positions in Purchasing and Quality Control; and a revised layout of the plant.Doug Thompson is the new plant manager in Kiel, the first one the plant has had in two years. Mike Vander Zanden, the new vice president of operations at Amerequip, said Thompson has 11 years of supervisory and management experience. “He also has a lot of safety, environmental and continuous improvement experience,” Vander Zanden said.Thompson began his duties this month at the Kiel plant which has been rearranged to dedicate certain areas to “product families” produced by Amerequip. Vander Zanden said the new layout is based on what orders look like over the next 12 months.

Space is not a concern at this point at Amerequip. “There’s plenty of room to add additional equipment,” Carriere said. The company has changed the way it schedules its production so that it is not warehousing a lot of raw materials. (top)

Workforce Back Over 200
What is occupying additional space at Amerequip these days is workers. “We cannot in two shifts, meet the increased requirements we have,” Vander Zanden said, pointing out that a third shift is being added at New Holstein Plant #2 and a second shift will return to the Kiel plant. Total employment at Amerequip has crept back over the 200 mark.Amerequip’s news is even more exciting at its New Holstein plants. Activity at Plant #1 downtown had dwindled in recent years, but that plant is springing back to life with Amerequip’s increased orders.At Plant #2, a fourth Fanuc robotic welder has been added at a cost of about $180,000. Carrier said, “It fits into our Plant #2 cylinder robotic welding and hydraulic cylinder production. We (produce our own cylinders) for lead time, quality control and pricing. Our lead time to our customers is probably one of the best and most consistent in the industry.”All of Amerequip’s robotic welders are identical which helps with programming, training and maintenance, and the oldest is just four years old. Vander Zanden said the welders are dependable, accurate and are 50 to 75 percent faster than manual welding, which is critical “in a day when around here, welders are very hard to come by,” he said.

Amerequip needs that speed when one considers how many different wholesale goods it provides to its original equipment manufacturer (OEM) customers-including parts and components for front-end loaders, backhoe, mower decks, tillers, front blades, loader attachments, cabs, walk-behind mowers, roll-over protection systems and accessory kits. (top)

Produces Many Parts, Components
Vander Zanden pointed out there was a time when Amerequip made components for five to eight different models of backhoes-now it supplies those components for 35 to 40 different models. “We’ve averaged three to four new types of items per year over the last couple years,” he added.In addition, only two or three of the models of backhoes it supplies were around just six years ago-the rest are new. “The only constant is change,” Carriere said. “If you sit back, you stagnate.”While Amerequip is clearly in a growth mode at the moment, its leaders say the future holds no guarantees. Carriere said he recently heard statistics which show there are about 700 short-line production manufacturers in the United States alone producing $2 billion worth of products annually. Amerequip is more than a short-line manufacturer, but Vander Zanden said, “There’s a lot of people out there who do what we do.” Carriere added, “We can’t think we’re so unique that we can’t be replaced.”

But they also said they believe Amerequip has found a formula which makes American manufacturing viable - be able to do the design, testing and manufacturing of a product, build it with a high standard of quality, deliver it when the customer needs it, and at a reasonable cost. As Carrier said, it is all about account management. “We develop relationships with our customers and we support those relationships.” (top)

Amerequip VP Worked His Way Up
Amerequip's new vice president of operations is not really a new face around the plants in Kiel and New Holstein, but he is bringing some fresh changes to the local manufacturer.Mike VanderZanden, 35, officially became VP of operations in November. It is the most recent position in the 12-year career at Amerequip for VanderZanden, a Little Chute native and current resident who worked at Pierce Manufacturing prior to coming to Amerequip.A big advantage VanderZanden brings to his current position is the fact that he has seen Amerequip's operations from a variety of angles. He began his career there as a manufacturing engineer for a year, then became plant manager at New Holstein Operations Plant #2 for two years. From there, he moved to director of Quality Assurance for six years before becoming director of Marketing & Sales for three years. He even filled in and ran the Kiel facility from time to time as needed.Oversees all manufacturingAs VP of operations, VanderZanden is responsible for all manufacturing functions at all three Amerequip plants, as well as overseeing purchasing, scheduling and quality functions.He said he is using his experience and his new position to bring a fresh focus to the company. "The main focus is to make everyone understand that our operations have to be customer-driven," he said. "That causes us to focus on the quality of the product. It's the customer who is putting the paycheck in our pocket. That (Emphasis) has been a big function of mine over the last three months.""Very large" customer addedSales are up at Amerequip, including the addition of what VanderZanden called - without identifying the name a new and "very large" customer as well as three other customers with which the company is working. The work Amerequip does for John Deere also continues to increase, he said. "We've been very fortunate," he said.

Asked how Amerequip workers have taken some of the changes around the plants and the company's growth mode, VanderZanden said, "It's gone extremely well. Right now the hourly people have been very supportive. I meet with the hourly people monthly." He said ideas for cutting costs and doing things better or more efficiently are coming from employees. He called the current work force at Amerequip the best group of people he has seen in his 12 years at the company. "They have the skills, they have the experience." (top)

Amerequip Hires New Engineering VP
While he does not attribute it to playing with Tonka Toys in the sandbox as a child, Craig A. Callewaert does admit to having a life-long fascination with heavy equipment.That has led him to work for some of the country's largest machinery producers - places such as CNH Global NV with $11 billion in annual sales and 30,000 employees, J. L. Case Corp. (now part of CNH) and Caterpillar Inc., the world's largest construction equipment manufacturer.Callewaert is the new vice president of engineering at Amerequip Corporation, a longtime area company operating out of three New Holstein locations and one Kiel plant. While his experiences at those other companies have taken him around the world - including Italy and Japan - Callewaert said Amerequip is a place he would like to stay a while."Everything in my career has been focused on getting this type of position, " he said. "Now I'm where I want to be, doing what I want to do."Natives of WisconsinOne reason Callewaert is happy to be at Amerequip is the fact that he and his wife are Wisconsin natives. Craig is originally from Eagle River and his wife is from Baraboo, and they are now living in Appleton with their two daughters 13 and 8.Craig earned his bachelor of science in mechanical engineering in May 1986 from Michigan Technological University in Houghton. He went on to get his master of science in mechanical engineering from Bradley University in Peoria, Il, in May 1989 and his master of business administration from Cardinal Stritch College in Milwaukee in May 1996.Asked to explain his enjoyment of engineering heavy equipment such as the backhoes and loaders made by Amerequip, Callewaert said, "For me it's just the right mix - it's engineering, but it's not over-engineering."Likes Working with Small GroupsWith experience in supervising other engineers and spearheading new product launches during his 18-year engineering career, Callewaert said he is bringing a more "cross-functional" approach to Amerequip and its engineering department staff of about a dozen who work in the building on CTY H across from the high school. "I like a small group, " he said, "You're a lot more flexible, a lot faster to get things done."Callewaert said a lot of engineering analysis is done at Amerequip using "not the latest technology but the right technology." Their task at Amerequip is to tweak existing products as well as introduce new ones. "We have to play to our strengths, but our strengths are pretty broad, " he said, adding, "I have a lot of perspectives I bring here." Perhaps his most important perspective is this: "Engineering's not done until the customer is happy."

When he is not working, Callewaert said he enjoys mountain biking as well as a little traveling, home remodeling, woodworking and deer hunting. He also taught two semesters of statistics for Davenport, Iowa's St. Ambrose University and is a member of the Society of Automotive Engineers. (top)

Amerequip Celebrates 7th Year of Employee Ownership
Participants of the Amerequip Employee Stock Ownership Plan (ESOP) held their 7th annual meeting at the new Holstein Community Center on Sunday, February 13.The theme for this year's meeting was "Lucky 7." Employees and their guests were entertained with casino like games based on the ESOP. Desserts and beverages were served to add to the social gathering.Mike Festge, Amerequip president, brought the meeting to order with a welcome and introduction of guests. Betty Bollis, ESOP Advisory Committee chairperson, described the many activities of the committee and announced Amerequip being name the "2004 Company of the Year" award recipient by the Wisconsin Chapter of the ESOP Association.Mike Festge then followed with a review of what ownership means and the year in review.Steve Marcus, VP Operations, presented Kaizen events completed and in process, comparing cost savings and improved efficiency.Deon Carriere, VP Sales and Marketing, teamed with Mike VanderZanden and presented customer relationship management, touching on current accounts and new opportunities. Quality assurance and customer service are key to the future growth of Amerequip.Charlie Hoke, member of the board of directors, offered his perspective on the past year and the many opportunities to acquire new business.

Each year a professional valuation firm is retained to make an objective determination of the fair market value of the firm and the resulting value per share. Fred Jahns, ComStock representative, presented the findings and results of the valuation. The participants submit estimates of the share value of the company stock and the individual coming closest to the actual value is awarded a prize. This year's winner was Sharon Hagenow. Management then concluded the meeting by distributing Participant Statements to each participant in attendance. (top)

Hagenow named 2003 Employee Owner of the Year
Sharon Hagenow customer service manager of Amerequip Corporation, was recently honored as the "2003 Employee Owner of the Year" by the Wisconsin Chapter of the ESOP Association. The award was presented to Hagenow at the Wisconsin Chapter meeting on April 21, held at the Principal Financial Group in Appleton.

Individuals are nominated for this award and selection is based on numerous criteria. Sharon has been very active on the Amerequip ESOP Advisory Committee. She has completed three years on the committee and in that time has served as secretary and most recently, as chairperson. Sharon has distinguished herself through her creative contributions, initiative and leadership capabilities. She is a previous recipient of a $1,000 education scholarship from the Charles R. Edmunson Foundation. She has attended several ESOP Association Chapter Meetings, an ESOP Owners Retreat in Chicago and has represented Amerequip at two separate ESCA Lobby Days in Washington D.C. In the community, Sharon is active on the Board of Directors for the Kiel Area Association of Commerce and is a volunteer, representing Amerequip with Junior Achievement of Wisconsin. (top)

Amerequip's VP of Sales and Marketing is quoted in OEM Off-Highway"
OEMs want to design their vehicle and leave their attachments to other companies," says Deon Carriere, vice president of sales and marketing, Amerequip. "That is what Amerequip is, an attachment solution provider. We are willing to accept the challenge of customizing a solution and not just offer something off of the shelf."

Amerequip started with an understanding of a backhoe and with the operation of the ASV machine. "We then blended the two together," says Carriere. "The backhoe from the boom forward is standard, but moving back to the ASV machine, engineers had to make radical changes to how the attachment hooks to the machine and interacts with the operator." (top)

Trade magazine, Construction Equipment Distribution, quotes Amerequip's VP of Sales and Marketing"
Instead of thinking only about the physical machinery you carry, think about what each contractor is trying to do with that equipment," says Deon Carriere, vice president of sales and marketing for Amerequip Corp., which custom-engineers and manufacturers attachments. Carriere continues, "Think about what he can do with his machine to make more money, jobs he may not have thought about. In other words, what will make each individual customer more satisfied?"

Carriere is further quoted as saying, "Offering more of what an equipment user really wants lets the dealer command a higher price than he might otherwise. As long as pricing is reasonable and fair, the variety of values added by a reliable attachment tailored to the equipment user’s particular needs are large enough to have a positive impact on dealer profits." (top)

Major Equipment Investment in New Holstein Plant
Amerequip Corporation announced that it has committed to a significant investment in production equipment by ordering two new production machines to be installed in their New Holstein Plant 1 operation. The first is a new laser metal cutting machine to be used to accurately burn out profile shapes from steel plate, the first such machine to be installed at Amerequip. The second is a newly upgraded bar cut-off machine to be used in the production of pins and other similar parts used in their products. The decision to make these investments during these difficult economic times reflects Amerequip’s confidence in their long-term prospects to continue to expand business and improve profitability. These investments are a significant element of a program designed to improve responsiveness to customer needs by reducing lead times and controlling product costs, both required to support the ever-demanding marketplace. Although Amerequip has incorporated laser-burned components in its products, it has utilized the capabilities of its supplier base for this function. With this investment in its own laser burner, Amerequip will be able to accomplish a portion of this work internally.

The new bar cut-off machine will be installed in the recently formed cut-off machining cell which produces pins and other similar components. The new machine is both faster in producing parts and quicker to change over from one job to the next, thus supporting the cell objectives of increased flexibility through smaller run sizes. (top)

Amerequip Celebrates Fifth Year of Employee Ownership
On Sunday February 23, the participants of the Amerequip Employee Stock Ownership Plan (ESOP) held their annual meeting at the New Holstein Community Center. Preceding the formal meeting, attendees enjoyed snacks that included a cake that highlighted the 5th year of Amerequip as an ESOP-owned company. The cake was decorated with a group photo of the ESOP participants. In addition, they viewed displays of the newly designed backhoe mounted on an ASV tracked vehicle. Mike Festge, Amerequip President, welcomed the participants and their spouses to this celebration of the fifth year of employee ownership by presenting a crisp, new $5 bill to each person in attendance. As a highlight of the meeting, Mr. Festge awarded the distribution of ESOP benefits to retired employee Ed Staub. Ed received his distribution check in a wooden model golf cart in tribute to his hobbies of golf and woodworking. Sharon Hagenow, ESOP Advisory Committee Chairperson, described the many activities of the Committee including participating in governmental Lobby Days and other activities celebrating employee ownership including the annual Bowling Party. Mike Festge then presented The State of the Company including strategic objectives, financial results, and performance goals. Next, Louie Penpek, V.P. Operations, highlighted some of the improvements in Operations including photos of investments in new equipment such as robot welder and the new vertical machining center, as well as simple methods improvement to improve efficiency and productivity. Dick Griem, V.P. Engineering, emphasized the trend towards more product customization and presented photos of the new backhoe for the ASV tracked vehicles. This backhoe incorporates a tilting control console to allow the operator to remain in the vehicle seat and cab while operating the backhoe. Dick also summarized the other new products under development that will provide the basis for future business. Deon Carriere, V.P. Sales and Marketing, summarized the actual sales vs. goals for the year, highlighting the successful achievement of new customers. He described the ongoing activities with the several potential and existing customers and the opportunities for the future.

Each year a professional valuation firm is retained to make an objective determination of the fair market value of the firm and the resulting value per share. The participants submit estimates of the share value of the company stock. Mike Festge presented the findings and results of the valuation and announced the winners with the estimates closest to the actual value, a tie between Cindy Anhalt and Jon Karls. Mr. Festge then provided an example of the Participant Statement, explaining the several features resulting in the total ESOP benefit calculation. Management then concluded the meeting by distributing Participant Statements to each Participant in attendance. (top)

Original Amerequip Employees Honored for 20 Years of Service
At a special Service Awards dinner January 22 at the Millhome Supper Club in Kiel, Amerequip Corporation honored those employees who have served the Company since its inception 20 years ago. In January 1983, Richard H. Lytle acquired the Arps Division of Chromalloy American Corporation and formed a new company that became Amerequip Corporation. Of the original Amerequip employees, 12 are still employed and were being specially recognized, including six attending the dinner with the Amerequip management team. The six honorees were: Betty Karls (Finance), Dick Griem (Engineering), Carol Stenz (Information Technology), Jean Stephan (Engineering), Bill Bittner (Operations), and Jerry Boehnlein (Operations). Others being recognized but unable to attend included: Jerry Ausloos, Jim Greuel, Arnie Heimann, Gary Schley, Gerald Winkel, and Herb Wissbroecker.

Jim Richards, Amerequip Vice President, read messages of greetings and congratulations from Mike Festge, Amerequip President, and also from Dick Lytle, former owner. He acknowledged the contributions of this special group as he thanked each employee and presented the Service Awards. The honored employees shared their recollections of their experiences both preceding and during their Amerequip employment. (top)

Wrong Fix? Amerequip employees say Congress' haste to patch Enron mess can cause other problems.
Employees from Amerequip, a designer and manufacturer of high quality tractor attachments, were in Washington, DC recently to press their message with Congress that Enron-inspired pension reform legislation currently under consideration could seriously hurt privately-held, employee-owned companies like theirs.The employee-owners of Amerequip joined a diverse group of private employee-owned companies today on Capitol Hill to meet with lawmakers and to impress upon them that current legislation would hit private, employee-owned businesses hard by inadvertently lowering stock values and creating serious cash flow problems.The companies making the rounds on Capitol Hill were members of the Pension Reform Action Committee, a coalition of small and medium-sized, privately help employee-owned companies that want to ensure that any new pension reform legislation takes into account the special concerns of employee-owned private companies.Among the concerns shared by these companies is the current move towards forcing all employees to diversify their retirement holdings. When Enron collapsed, it workers were left holding worthless stock, their retirement savings ruined. While expanded diversification rules might protect workers at publicly-traded companies, such mandated diversification would have the opposite effect on employees of privately-held companies.That is because the stock of a private business cannot be sold on the public market, because the only buyer is the company itself. Any change to current law that requires or facilitates substantial sales of probate company stock would put an enormous strain on the company's capital, potentially forcing up leverage ratios and reducing the company's ability to fund ongoing operations and growth."Congress shouldn't make privately-held, employee-owned companies like Amerequip pay for Enron's mistakes," said Betty Bollis, Cycle County Coordinator for Amerequip. "My heart aches for the employees of Enron. However, the way Enron was managed is not typical of most companies and certainly not representative of privately owned companies. Congress should not impose unreasonable requirements on privately owned companies."The second, related concern is that a private company's stock value does not derived from the public markets, but rather from a private valuation of the company's assets, liability and cash flow. Any change to current law that facilities the sale by employees of large amounts of private company stock regardless of whether the employees choose to divest of these share creates a massive contingent liability for the company-buyer. The automatic result of this liability is that the company's stock value will fall, resulting in a devaluation of the employee's stock accounts.Private employee-owned companies are typically "open book" companies where employees are empowered, informed investors in the company. "Our concern is for the long-term welfare and success of our employee-shareholders, "said Sharon Hagenow, Customer Service Manager for Amerequip. "If Congress makes it more difficult for companies like Amerequip to offer ownership benefits, that will have a ripple effect felt throughout the economy."

The Pension Reform Action Committee is comprised of more than 75 private companies operating in an array of industries and in every state across America. PRAC's mission is to educate policy makers about the unique concerns that these companies' and their employee-owners face in the context of pension reforms and retirement policy. (top)

Amerequip Celebrates Employee Ownership Month
U.S. Representative Tom Petri (6th Dist.-WI) today toured Amerequip Corporation’s Kiel manufacturing facility located in Wisconsin's 6th Congressional District, and met with employee-owners of the company, which is a 100 percent employee-owned (ESOP) company. Amerequip employees and management thanked Rep. Petri for his strong support of employee-owned private businesses and for his willingness to fight proposals that could put at risk the capital of these companies and their employee-owners. "Tom Petri has long been a supporter of American business, particularly private ESOP companies," said Mike Festge, Amerequip president. "He was crucial in the fight to exempt private companies from provisions in the House-passed pension legislation that would have put at risk the capital structure of private ESOP companies by forcing them to hold cash reserves to buy back stock." Festge also noted that Rep. Petri will be receiving the Award for Manufacturing Legislative Excellence from the National Association of Manufacturers. The Award will be presented to every member of Congress who has maintained a 70 percent or better voting record on NAM's pro-growth, pro-manufacturing, pro-worker agenda. As Vice Chairman of the House Education and the Workforce Committee, Rep. Petri played a pivotal role in shaping the House pension reform bill and protecting the interests of employee-owned, privately held companies in that major initiative.

Earlier this year, Rep. Petri met with the employee-owners Betty Bollis and Sharon Hagenow from Amerequip along with other Wisconsin company representatives as part of Employee-Owned S Corporations of America’s April "Lobby Day." At the meeting, Rep. Petri heard their concerns about pension proposals threatening their interests in the privately-held, employee-owned company. He told them, "Employee ownership is part of the American dream and must be protected." (top)

Amerequip Celebrates Employee Ownership Month
On Friday October 6, the employee-owners of Amerequip Corporation met after work at the Beacon in New Holstein for an informal bowling party to kick off the celebration of "Employee Ownership Month". Amerequip, with operations in New Holstein and Kiel, is 100% owned by the Amerequip Employee Stock Ownership Plan (ESOP). The month of October has been designated "Employee Ownership Month" by the ESOP Association, and the Amerequip ESOP Advisory Committee has organized several activities to promote awareness and understanding of the ESOP and employee ownership. The event was successful in fostering a great time of fun and fellowship with each team planned to consist of members who do not routinely work together. The Committee organized an ESOP Trivia Contest to test the participants’ understanding of the details of the Amerequip ESOP. A survey questionnaire was distributed and responses tabulated. Sharon Hagenow of Customer Service achieved the highest score and as an award will be invited to attend an upcoming National Center for Employee Ownership (NCEO) meeting in Chicago. An ESOP poster contest was held and several participants created posters to publicize the features and benefits of the Amerequip ESOP. These posters were displayed at the bowling party so that the attendees could vote for the best poster. Contributors Melinda Bittner, Cheryl Deidrich, Glenn Kreidler, Beth Probst, Tina Hartmann, and Jean Stephan were awarded gift certificates to a local restaurant, with recognition of the best poster awarded to Jean Stephan from the Engineering Department. The results of the election of new members of the ESOP Advisory Committee were announced: Sharon Hagenow and John Van DeHey were elected to fill the openings created by the expiration of the terms of Glenn Kreidler and Mike VanderZanden. Other members of the Committee are: Greg Mayer, Wayne Nohr, Dick Ruh, and Jean Stephan. The ESOP Advisory Committee, elected by the ESOP participants, advises management and the ESOP Administrative committee on ESOP issues. It also promotes awareness, understanding and communication related to the Amerequip ESOP. An ESOP is an employee benefit plan which makes the employees of a company owners of stock in that company. There are approximately 10,000 ESOP’s in the United States with approximately 10 million employee-owners, or 10% of the workforce. Amerequip is one of approximately 1000 ESOP companies 100% owned by the ESOP.

The Company has four facilities in the New Holstein and Kiel, Wisconsin area. The engineering and development center, a fabrication and welding plant, and a machining and hydraulic cylinder plant are in New Holstein. The paint and final assembly facility is in Kiel. In addition, the Company maintains its corporate offices in Mequon, Wisconsin. Amerequip employs approximately 250 people in these locations. (top)

Amerequip Adopts Employee Stock Ownership Plan
Amerequip Corporation, with operations in Kiel and New Holstein, Wisconsin, announced the adoption of an Employee Stock Ownership Plan (ESOP) on October 29, 1998. A Trust has been established which has purchased 100% of the outstanding stock of the Corporation from Richard H. Lytle. The Trust will hold these shares for the retirement benefit of the Amerequip salaried employees. In a letter to the employees, Mr. Lytle stated "…with the sale of my shares to the Trust, I have resigned from my position as President of the Company to take retirement. My sixteen years association with the Company and most importantly, with all of you, leaves me with many fond memories of challenges met and relationships enjoyed." With Mr. Lytle's resignation, the following were elected as officers of the Company:

• President and Treasurer: Michael O. Festge Vice President & Controller: Gary L. Brochtrup Vice President - Engineering: Richard K. Griem Vice President - Sales & Marketing: Delmar H. Huener Vice President - Operations: Louis G. Penpek
• Vice President - Finance & Secretary: James W. Richards

These individuals have all served Amerequip in various capacities for periods ranging from 8 to 16 years. In making these announcements, Mr. Festge stated "It is my hope that this is the beginning of a new Amerequip -- an Amerequip that everyone will be proud to be associated with." (top) For further information on any of the above press releases or news items please contact Sharon Hagenow at (920) 894-7063, ext 305.