October 20, 2008 – San Antonio, TX - Glenn C. Martin III, president of Texas Scenic Company, is pleased to announce the second phase of an ownership change within the company.
“Five years ago, we began a program to transfer ownership of Texas Scenic Company to our strongest asset, our employees. This transition began with the sale of my family's stock to the employee stock ownership plan (ESOP). The next step was for my shares to join my family's,'” says Martin. “Effective October 3, 2008 ownership of my shares of Texas Scenic Company stock were purchased and transferred to our ESOP. This is the second step toward our goal to achieve ownership by our employees of the company. Our company has been managed by an executive management committee for the last five years. They have over 150 years collective experience within our industry and I am leaving with all members of this team in place to ensure continuity in performance and continued growth for the company.”
Martin, who was president of Texas Scenic Company for the last 30 years, states, “For over 70 years, the goals of my grandparents and parents were to establish an environment for growth, success and excellence in our company and our employee's lives. This transition is the next step in fulfilling my family's dreams.” Texas Scenic Company, established in 1936, is a stage equipment contractor and systems integrator. TSC designs, manufactures and installs stage, studio and theatrical equipment for educational, entertainment and broadcast facilities throughout the country.