Smyth Companies announced today that it made final gainsharing distributions to its employees based on 2008 profitability. Smyth established a formal gainsharing plan more than 20 years ago that shares with employees the profits they help create. As a result of increased profitability in 2008, total gainsharing was approximately $635,000 for 2008, up from $228,000 in 2007. Initial 2008 gainsharing distributions to employees were made in December 2008, and the final distribution was made this month.
Smyth is one of the largest label producers in the US. In addition to package labels and point-of-purchase displays, Smyth produces in-pack and on-pack promotional labels and application equipment. The company has headquarters in St. Paul, MN, USA, and operates six production facilities located in Minnesota, Virginia, and Colorado. Smyth employs approximately 360 people.