KING OF PRUSSIA, Pa.—Schweitzer Engineering Laboratories’ King of Prussia team discussed the benefits of being a 100 percent employee-owned company with Rep. Patrick Meehan (R-PA) during his visit to their Pennsylvania office Monday.
The congressman toured the company’s business and engineering services facility and learned about the American manufacturer’s role in protecting power grids around the world. SEL employees also provided updates on recent projects related to power grid protection, control and cybersecurity.
“One in four private sector workers is employed by S-corporations like SEL,” said Congressman Meehan. “Employee stock ownership plans give workers a greater stake in a business’ success and enable more employees to benefit directly from a firm’s performance. I’m grateful to have the opportunity to visit SEL today, meet its talented team and learn more about the work they do.”
Meehan represents Pennsylvania’s 7th Congressional District and is a member of the House Ways and Means Committee which oversees a number of issues, including taxes and retirement. During his visit, Meehan provided a status update on tax reform efforts and learned about the SEL employee stock ownership plan (ESOP), which is helping more than 2,000 SEL employees build robust retirement accounts.
“As employee-owners, we are motivated to create quality products that help our customers and, in turn, help SEL and our ESOP continue to grow,” said Angelo D’Aversa, manager of Research & Development in the SEL King of Prussia office.
The SEL King of Prussia office opened in 1999. Its 50+ employees provide regional customers with engineering services and assistance for power systems. They also help develop motor, generator, feeder and transformer protection product lines.
SEL serves the power industry worldwide through the design, manufacture, supply and support of products and services for power system protection, monitoring, control, automation, communications and metering. For more than 30 years, SEL has offered unmatched local technical support, a 10-year, worldwide warranty and a commitment to making electric power safer, more reliable and more economical.