We are pleased to announce that as of October 31st, 2020, our three sister companies Inland Tarp & Cover, Inc; ITC Services, Inc; and Inland Tarp & Liner, LLC, have been put into a holding company and sold 90% to an Employee Stock Ownership Plan (ESOP) as an additional retirement plan for employees, and 10% to a charitable trust supporting various 501c3 charities with 10% of the profits year after year.
Our founder, Glen Knopp, recognized that the ESOP was the best way to continue to provide our customers with the quality and service they deserve, our ability to stay involved with our communities, and preserve our unique company culture. The ESOP will benefit the employees who have faithfully served our customers for many years through the annual distributions of stock from the ESOP.
Glen Knopp said, “We have always said how we do business is more important than the business we do. We care about our employees, our customer and vendor partnerships, and the communities we live in. This ESOP preserves the direction and purpose of the company while integrating employee ownership into the company’s culture.”
Glen will continue to serve as Board Chair and Chief Visionary Officer. Freddie Prado will continue as General Manager of ITC Services, and Carl Poteete, a 30-year veteran of high growth companies will continue as Chief Executive Officer.
The businesses will continue to operate as they have in the past with the same core values, high quality standards, timely delivery, excellent customer service, and competitive pricing, yet now with a new owner, the employees.
About Inland Tarp Companies:
Founded 40 years ago, Inland Tarp & Cover, headquartered in Moses Lake, WA grew primarily from the manufacture, sale and installation of agriculture covers. Along the way, covers and tie-down designs were pioneered and perfected including the Inland Tarp & Liner Performer®, Bull Flex®, and Super CinchT. By 2005, Inland Tarp & Liner ventured into the oil and gas industries becoming a recognized leader in geomembrane fabrication and anti-slip geotextile surfaces with the Inland Tarp & Liner 40X and 40XGL (both trademarked) product lines in 2014. More recently in 2020, Inland Tarp & Liner rolled out the ITL Reinforced Concrete Roll®, a disruptive new technology reinventing concrete for erosion control, channel, and pond lining.
Today, ITC Services, Inc. rents, installs, and sells hay tarps and covers for agricultural and industrial purposes out of nine locations in four states, primarily throughout the western United States. Learn more at: inlandtarpandcover.com.
Inland Tarp & Liner, LLC, fabricates premium customizable or standard sized hay tarps, grain pile covers, athletic covers, marine covers, along with environmental and energy market liners and products. With fabrication facilities in Moses Lake, WA, Fostoria, OH and Odessa, TX, Inland Tarp & Liner ships worldwide. Learn more at inlandtarp.com