Mount Vernon Washington has allowed it to expand its services and focus on things like fostering a motivated, younger workforce and updating its older operational models with newer technology. However, the most important development for the company has to be the creation of its Employee Stock Ownership Plan (ESOP) at the end of 2020. A little over 3 years later, the company’s leadership maintains a clear vision for growth that involves identifying new market opportunities while emphasizing open communication with employees by sharing financial information and outlining the ESOP’s benefits. Industrial Resources has done a fantastic job of retaining skilled tradespeople, and it has now turned its sights on continuous improvement through investments in higher-quality training, support, and operational standards. When these elements come together, it results in satisfied customers, a reputation for excellence in the industry, and a positive work environment where employees understand the direct impact of their work on the company’s success. IRI BEFORE THE ESOP TRANSITION In its early years, Industrial Resources primarily worked on oil refineries in the Northwest. With time, the company diversified into commercial fishing vessels, particularly those that process fish at sea, producing pallets of frozen fish by the time they reach the dock. The shift from refineries to fishing was driven by the competitive, seasonal nature of the refinery business and the growing opportunities in the fishing sector. This transition proved fruitful, establishing Industrial Resources as a key player in supporting the Alaskan fishing fleet. So, the company’s largest division remains the support of the Alaskan fishing fleet, which involves services including maintenance and repair. Industrial Resources’ expansion into commercial Northline Seafoods barge “Hannah” 129 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 06 INDUSTRIAL RESOURCES, INC.
RkJQdWJsaXNoZXIy MTI5MjAx