BELLEFONTE — SilcoTek Corporation, an advanced coating technology and service company based in Bellefonte recently announced that starting Jan. 1, the company is officially an employee- owned business through the creation of an Employee Stock Ownership Plan.
The decision marks an exciting new chapter in SilcoTek’s history, one that puts employees at the very center of its future. By becoming employee-owned, every eligible team member will gain a personal stake in the company’s success, reinforcing SilcoTek’s long-held belief that people are its greatest strength.
Through the ESOP, employees will gradually earn shares in SilcoTek at no cost to them, creating both a meaningful retirement benefit and a sense of pride in ownership. The move also ensures that SilcoTek will remain independent, innovative, and rooted in the values that have guided the company since its founding.
“Our employees have always been the heart of SilcoTek,” said Gary Barone, President and Head Coach. “We’ve always believed in building a company where people feel valued, respected, and empowered. Transitioning to an ESOP takes that belief one step further, by giving our employees a direct stake in the future they’re helping to create.”
“SilcoTek has always felt like a family,” added Donna Lidgett. “Becoming employee-owned makes that bond even stronger. It means that when SilcoTek succeeds, we all succeed.”
For SilcoTek’s original founder, Paul Silvis, an ESOP has always been about building a strong community and empowering employees to create financial freedom.
Silvis led both Restek and now SilcoTek through ESOP transitions stating “many companies transition ownership from the founders by selling the company to outside investors. Rarely are the employees better off and frequently the business is relocated or shut down within ten years. SilcoTek chose to transition ownership to the employees via an ESOP. The vision of the ESOP was to provide a stable ownership structure where good paying jobs will remain in Centre region for many generations. Success will be measured by SilcoTek’s employees’ children and grandchildren working there in the next 50 years.”
SilcoTek Corporation was founded in 2009 to focus solely on developing high performance
chemical vapor deposition coatings for a wide range of industrial markets. SilcoTek’s mission is to provide game-changing coatings to their customers, including global leaders in semiconductor manufacturing, pharmaceuticals, and energy production. SilcoTek holds well over 100 patents and patent applications for its coating technologies and employs 70 people in the Benner Commerce Park.
