Chris and Betty Schafer founded the company in 1986 as a home-based business in Adair, Iowa producing lottery ticket dispensers to the newly emerging lottery industry. As the lottery business grew, so did our business and the products to serve this expanding market. The company was incorporated in 1987.
In 1999, the Company began offering custom, rotational molding manufacturing services to further diversify its operations. Also this year, the Company created an Employee Stock Ownership and Savings Plan.
On November 1, 2003, the Company completed a major restructuring consisting of a parent company (ORI) and three wholly-owned subsidiaries.
- Schafer Systems Inc
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- The Plastic Professionals
- Schafer Solutions
In April 2010, Schafer Solutions was launched as a comprehensive resource for the development, manufacturing and delivery of custom plastic solutions. Schafer Solutions’ unique products can be designed for point of purchase, OEM, food and beverage applications, as well as any situation or need that requires quality, turn-key results.
EMPLOYEE STOCK OWNERSHIP PLAN (ESOP)
An ESOP is an employee benefit plan which makes the employees of the company owners of stock in their company. The ESOP is a powerful structure to financially reward and motivate employees to maintain a high level of commitment to their jobs and each other. As such, the ESOP provides an environment which encourages all employee-owners to positively influence the company’s long term performance and value.
At ORI, our culture is one of trust, integrity and driven towards the long term success of our company. Since ownership provides employees with a direct stake in the future value of the company, we are continuously driven to improve and help each other to provide a workplace that is enjoyable and rewarding.
To learn more about ESOP’s, visit the following websites: