PATE ENGINEERS, INC. ANNOUNCES NEW SHAREHOLDERS
PATE ENGINEERS, INC. ANNOUNCES NEW SHAREHOLDERS
HOUSTON, TX - May 6, 2008 - Pate Engineers, Inc. (PATE), in line with the goals established within its 1998 Strategic Plan to transition ownership of the firm to the next generation, has named five new shareholders. PATE's Board of Directors approved a plan to acquire owner Gerry E. Pate's remaining shares over a four-year period (now in its second year). A portion of the stock will be added to PATE's ESOP Trust and a portion will be purchased by Direct Shareholders.
The following staff have been selected by the Board to join the Direct Shareholders of PATE:
* David Balli, P.E. San Antonio
* Michael Fisher, P.E. Austin
* Patricia Frayre, P.E. Houston
* Charles 'Ron' Hallenberger, P.E. San Antonio
* Rod Smith, P.E.
President Debra L. Anglin, P.E., said, "This is a great accomplishment for all of us at PATE and I look forward to our continued success."
PATE is headquartered in Houston, Texas, and has approximately 260 employees inclusive of the offices in Dallas, Austin, Fort Worth, Arlington and San Antonio.
For more information contact: Lisa Ruth (713) 462-3178 Ext.7238, Website: www.pateeng.com
HOUSTON, TX - May 6, 2008 - Pate Engineers, Inc. (PATE), in line with the goals established within its 1998 Strategic Plan to transition ownership of the firm to the next generation, has named five new shareholders. PATE's Board of Directors approved a plan to acquire owner Gerry E. Pate's remaining shares over a four-year period (now in its second year). A portion of the stock will be added to PATE's ESOP Trust and a portion will be purchased by Direct Shareholders.
The following staff have been selected by the Board to join the Direct Shareholders of PATE:
* David Balli, P.E. San Antonio
* Michael Fisher, P.E. Austin
* Patricia Frayre, P.E. Houston
* Charles 'Ron' Hallenberger, P.E. San Antonio
* Rod Smith, P.E.
President Debra L. Anglin, P.E., said, "This is a great accomplishment for all of us at PATE and I look forward to our continued success."
PATE is headquartered in Houston, Texas, and has approximately 260 employees inclusive of the offices in Dallas, Austin, Fort Worth, Arlington and San Antonio.
For more information contact: Lisa Ruth (713) 462-3178 Ext.7238, Website: www.pateeng.com
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