Custom molder and contract manufacturer C&J Industries Inc. is changing its leadership, with its employees taking a major role in its future.
Long time president and CEO Dennis Frampton announced his retirement Sept. 30 to coincide with the end of the company's fiscal year, and at the same time disclosed that the Meadville, Pa.-based company will be employee owned. The controlling family members on the board have sold their shares to the company and created an Employee Stock Ownership Plan that is 100 percent employee owned.
Rob Marut is now the new president and CEO. He was formerly vice president of finance and has been with C&J for eight years.
The company also has two new board members. Jerry Sargent, the former operations manager, is now a vice president; while Candy Harvey, C&J's controller, was added as the secretary/treasurer of the board.
“Forming the ESOP accomplished two main goals that were important for both the family members and the C&J executive management team. We wanted the company to remain in Meadville, Pa. and also wanted to provide a solid future for the employees of C&J industries,” Marut said in a statement.
He sees the transition as an opportunity to continue a legacy that started more than 50 years ago, and his goal is to carry on the company's principles of building trust and providing innovative engineering solutions.
The company has invested more than $12 million in the last five years in improvements including a 30,000 square foot addition. It operates in an 185,000-square-foot facility that has clean room space as well as 55 injection molding machines, ranging from 20 to 720 tons.
“It's exciting and humbling at the same time. We're looking forward to the future,” said Mark Fuhrman, director of sales and marketing.
C&J was founded in 1962. It serves the medical device, pharmaceutical, industrial, consumer products and telecommunications industries.