Twin City Die Castings Co. Becomes Employee-owned

January 16, 2018 by NADCA in Industry News

The family behind Twin City Die Casting Co. (TCDC), an aluminum and magnesium die casting provider, is turning over ownership of the 98-year-old business to its employees.

The Minneapolis-based company said last week that it's adopting an employee stock ownership plan. Douglas Harmon, current owner and CEO, will sell most of his interest in the company to TCDC's 250 employees. The sale will occur via shares of the company stock to employees as part of their retirement benefits program, according to the announcement.

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