EXTON, Pa., March 19, 2018 (GLOBE NEWSWIRE) — OmegaFlex®, a global leader in metal hose design and manufacturing, has announced the company is distributing one-time $1,000 discretionary incentive payments to all of its nationwide employees as part of the new Federal tax law changes. Payments will be made to all employees in operations and manufacturing, as well as office staff. This excludes executive and sales team members who receive incentives through other plans. The bonuses will be distributed in the first quarter of 2018.
Kevin Hoben, OmegaFlex CEO, stated, “Corporate tax reform has not only been good for our economy—it’s good for employees nationwide, including those at OmegaFlex. Our employees are the lifeblood of our business, and we’re honored to be able to distribute these bonuses to reward their efforts.” Hoben continues, “Through the hard work, passion and ingenuity of each employee, OmegaFlex has thrived for more than 40 years. Our teams are always giving their all to the company, so we wanted to give back to them in gratitude for their commitment.”
OmegaFlex is one of dozens of national companies to offer employees monetary incentives as a direct result of government’s recent tax reform which lowered the corporate tax rate from 35% to 21%. Of the benefit, Hoben added, “At OmegaFlex, our employees are like family to us. Being able to pass along company savings to them is the right thing to do and a privilege.”
Established in 1975, OmegaFlex, Inc. is the pre-eminent international producer of flexible metallic piping products. With more than 200 patents registered worldwide, OmegaFlex® supplies proprietary products for a broad number of applications and markets, which include primary steel production, semi-conductor, medical, pharmaceutical, petrochemical, residential, residential and commercial construction, and power generation. In January, OmegaFlex unveiled its newest product, MediTrac®, the world’s first bendable, corrugated medical gas tubing for healthcare use. OmegaFlex®, MediTrac®, TracPipe® CounterStrike® and AutoFlare® are registered trademarks of OmegaFlex, Inc. All rights reserved. For more information, visit www.OmegaFlex.com.