On March 25, 2010, Aluminum Precision Products, Inc. (APP) announced to its employees its intention to gradually transfer the ownership of the company to its employees through an Employee Stock Ownership Plan, or ESOP. This action will not change the management or operations of the company. Nor will control of the company by the Keeler family be relinquished in the short term. It is expected that, over time, the controlling interest and eventual full ownership of the company will transfer to the employees through the normal process of the ESOP.
APP, a family owned company founded 45 years ago by Philip Keeler, has experienced significant growth throughout its history, and has become one of the most successful and reputable companies in the industries we serve. After 44 years at the helm, Mr. Keeler passed away in July 2009, leaving a legacy of excellence.
In recognition of the hard work and dedication of its employees, APP has chosen this course, not only as a reward to the faithful employees, but also as an assurance to our customers that APP will continue building on legacy for which Mr. Keeler is recognized and remembered.
Gregory S. Keeler