Chatsworth celebrates business milestone
In 20 years as an employee-owned company, CPI has increased sales 1,000 percent and expanded to eight locations.
On June 27, 2011 Chatsworth Products celebrated its 20th anniversary as an employee-owned company. In a statement about the milestone, the company explained, "Chatsworth Products Inc. began as a result of a buyout from a Fortune 500 company when the original employees came together to purchase the operation, adopting an Employee Stock Ownership Plan (ESOP) in the process. As a result, on June 27, 1991 Chatsworth Products Inc. began new life as a 100-percent employee owned company."
The company added that over the course of its 20 years it has enjoyed 1000-percent sales growth, as well as a significant increase in product offerings and a strong international presence. The company began in a single location and now has offices in Westlake Village and Chatsworth, CA; Georgetown, TX; New Bern, NC; Mexico City, Mexico; Buckinghamshire, England; Pudong, Shanghai, China; and Dubai, United Arab Emirates.