Precision-Tool, a metal stamping and tool and die company located in Kewaskum, has announced that it is now a 100 percent employeeowned company.
“It is a tremendous opportunity that the employees have been given by making this transition,” said Austin Weber, general manager of the company. The company now offers an employee stock ownership plan.
“The company essentially buys shares, and those shares get allocated to the employees,” Weber explained. DACO currently has a total of 51 employees, all of who are now also owners of the company.
“What we are doing here, it’s hard to put into words. It really is a groundbreaking opportunity. It’s just very exciting,” said Adam Beck, who works at DACO. The change offers potential not only for employees, but for the company as well.
“The idea is that employees are more vested in their jobs, and as a result are better employees,” Weber said. “It really helps build a culture and a company that is more like a big family, the DACO family.”
Company History DACO Precision-Tool was founded in 1984 by Randy Weber and Lloyd Kanzenbach. When they started, both owners worked at other full-time jobs during the day, and then worked at DACO during the night to produce parts and build tooling for their new company.