Lampin Corp. finalizes employee-ownership transition
Lampin Corp. in Uxbridge announced that the employee-owners have completed the purchase of all outstanding shares of the corp. from Scott and Lois Rossiter, who will transition from their ownership roles to take on advisory roles within the company.
Scott Rossiter will take the positon of chairman with a newly-formed independent board of directors, and Rick Mongeau will fill the role of presdient. Mongeau has been with the company for 2.5 years, and is a graduate of Worcester Polytechnic Institute. The new independent board will be comprised of five members, with three of those individuals having no connection to the company, said Rossiter.
Rossiter said that while the transition to an employee-owned model is filled with anticipation, there are still uknowns. "it's like starting a new job," said Rossiter. "You're excited for the opportunities before you, but you still wonder how it will work out."
Lampin Corp.is a manufacturer of precision-machined components.
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