SUN Hails Success Of Employee Stock Ownership Program Glen Arm, Maryland based SUN Automation announced the 20th anniversary of its Employee Stock Ownership Plan (ESOP), an employee benefit plan that enables em- ployees to own part or all of the company they work for. Since SUN established its ESOP in 2003, 100 percent of the company’s stock has been allocated to its employ- ees as a qualified retirement plan. As partial owners of the company, SUN’s employees have a vested interest in the success of the company. “With the ESOP, we are all working towards a mutu- al goal,” said David President, Eastern Region Territory Manager at SUN. “When the company does well, we all benefit.” To jumpstart the undertaking, SUN took on large loans which the company expected to pay off in 20 years. Due to the rapid growth and success of the company, SUN was able to clear its debt in 2013, just 10 years after es- tablishing the ESOP. “It was a huge achievement to pay off the loans so quickly,” said Steve Clarke, Vice President of Finance at SUN. “With the ESOP, payments that would have other- wise gone towards government taxes now go directly to our retired employees.” CONTINUED ON PAGE 10
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month June 2023
Year
Actual
Percent Change Avg Week Percent Change
2023 2022
33.006 34.817
-5.2
7.501 7.913
-5.2
Industry Total
Year-to Date
June 2023
Year
Actual
Percent Change Avg Week Percent Change
2023 2022
189.149 206.082
-8.2
7.447 8.113
-8.2
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2023 2022
2.7037 2.8541
-5.3
15.5017 16.9061
-8.3
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
June May
2.2422 2.3221
-3.4
3.6 3.9
-7.7
Shipping Days
Year
Month
Year-to-Date
2023 2022
22 22
127 127
SOURCE: Fibre Box Association
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