Leaving behind quite the Coates legacy, Anne Coates retired from American Plastic Molding Corporation at the end of 2018. Her late husband, Floyd Coates, founded the business in 1971, and after his passing, Anne took on his role as President of the company.
Before Anne started at American Plastic she owned and operated Christian bookstores in Southern Illinois. Anne began her career with American Plastic in 1994, and has served as both Vice President and President of the now employee-owned company (ESOP). ESOP is an employee stock ownership plan. American Plastic employees each own shares in the company through their employment. If an employee were to leave, the shares are then redeemed by the company.
“I did the ESOP structure because I thought it was the best path for the company to have a long and healthy future,” said Coates and considers the ESOP structure, and the employee ownership culture, as one of her greatest accomplishments at American Plastic.
“It’s a wealth building plan,” added Coates. “I want my employee owners of American Plastic to have a chance to grow, develop, and have satisfaction in their jobs. It’s always been my dream that every employee goes home feeling good about their day.”
American Plastic Molding Company has approximately 120 employees, each who now have their own shares in the company.
“American Plastic has always been about helping people and its employees,” said Coates. “We make good products for our customers, and we are molding our customers’ future and manufacturing their success. When we do that for our customers, we do that for ourselves as well.”
Coates’ retirement is effective at the end of 2018, but she has no worries about the future of the company. In fact, she has already witnessed her employees growing and developing and taking satisfaction in their jobs.
“There are new leaders already in place, and they are doing a great job,” said Coates. “There are new training opportunities happening through Vincennes University at the Mid-America Science Park for the Regional Manufacturing Alliance and our employees are blossoming. The training provided through this partnership, and Vincennes University are just fabulous!”
As Coates retires from the company to start the next chapter in her life, she still wants American Plastic to be seen as a great place to work for her husband’s legacy.
“I like for people to see their work as a privilege,” said Coates. “American Plastic has been able to give people another chance in life, and that seems to be continuing.”