Newton Manufacturing Company Celebrates ESOP "Note Burning"

The employee owners of Newton Manufacturing Company, headquartered in Newton, Iowa, held a Note Burning Party to celebrate the final payment on a series of loans used to establish the company's employee stock ownership plan (ESOP). The event began with Mancil Laidig, president and chairman of the board, sharing with the employee-owners the history of Newton Manufacturing's ESOP, followed by the "note burning" ceremony in the parking lot, and a cake and ice cream reception.