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PLI Restructuring

A manufacturer in Asheville, Plasticard Locktech International or PLI, has decided to sell the company to its employees.

This morning the company brought all 320 of its employees together for the announcement at UNC-Asheville's Kimmel Arena. 

PLI is converting from a privately owned company, so instead of the founders owning it it will be an employee owned manufacturer. 

PLI will award stock to the workers through an employee stock ownership plan.

Executives say sharing the company's profits with workers has huge benefits. 

PLI is now the world's largest maker of plastic key cards.   

We'll have much more on this story tonight on News 13.


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