*extrusions* eNewsletter article - 10 years as an ESOP
NewAge Industries Plastic Tubing and Hose Fluid Transfer Specialists


eNEWSLETTER ARTICLE

97.7% product quality

Why NewAge?

ESOP - Employee Owned For Your Benefit

Plastic Tubing and Hose Literature

extrusions NewAge Industries eNewsletter logo
Issue Number 41 FEBRUARY 2016
team members10 Years as an ESOP

2016 marks a milestone in the history of NewAge Industries: our tenth anniversary as an ESOP (Employee Stock Ownership Plan) company.

So, why would the owners of a successful company that was 52 years old (in 2006) decide to sell part of it to its employees?

Because ownership has a direct correlation to building a corporate culture focused on attributes like loyalty, customer service and quality manufacturing. We team members understand how our day-to-day actions can and will impact the company and, ultimately, our retirement. We all have a stake in the success or failure of NewAge. And that makes everyone much more conscious of how important it is to do our jobs exceedingly well.

When Ken Baker, CEO, was asked if he had ever thought NewAge would be in its current position as an ESOP, he said, "Absolutely. Back in 1985 I told one of our employees that if he worked hard, we would take care of him. At that time I didn't know it would be in the form of an ESOP, but that employee just retired and will be receiving a substantial amount of money, all thanks to the ESOP."

John Stover, former Director of Product Management, started with the company in August of 1978 and retired December 31, 2015. Stover noted that Baker followed through on his vision for the company and has gifted not only NewAge's employees but their families as well.

"It's another layer of security for my family," said Stover. "The owners of this company took a bold step…letting their employees become owners and sharing in the profits and success of the company."

Because team members are owners, many of us have a different perspective on the business and our employment.

"Before NewAge, I had no idea what an ESOP was," stated ten-year team member Joel DeVine, Quality Control Inspector. "I look at our business differently now. I'm more critical and focused on the customer's needs and the quality of products, since they have a direct effect on my career and potential retirement. As an owner I want to make sure that we continue to exceed the customer's expectations."

When the ESOP was initiated in 2006, Baker sold thirty percent of NewAge Industries to its employees at no cost to us. Another ten percent was purchased by the ESOP a few years later, and this year, Baker will sell another nine percent, bringing the employees' ownership total to forty-nine percent. Baker's goal is for NewAge to eventually become 100% employee-owned.

"That's down the road a bit," he said, "but we'll get there."

back to top arrow BACK TO TOP


BACK TO eNEWSLETTER MAIN PAGE

 
NewAge offers Tubing and Hose in a wide variety of materials
PVC
Polyurethane
Silicone
TPR
Nylon
PTFE, FEP, PFA
Polyethylene
Polypropylene
Viton®
Hytrel®
Latex

eNEWSLETTER

subscribe to our enewsletter

Our eNewsletter is called extrusions and it's filled with information related to tubing, hose, and fittings. You can check out the latest and past issues here:

eNEWSLETTER
ARCHIVE

NewAge Industries' AdvantaPure products are manufactured to meet the strict sanitary requirements of the Pharmaceutical, Biomedical, Cosmetic, and Food Industries. Platinum-cured silicone tubing and silicone hose are manufactured in our state-of-the-art clean room and are ideal for applications that require cleanliness, non-toxicity, and resistance to extreme temperature variations. AdvantaPure also provides stainless-steel overbraided and rubber-covered fluoropolymer hose, sanitary fittings, and complete hose assemblies.

SPECIAL REDUCED PRICING
While Supplies Last

We are offering special discounts on select tubing, hose, & fittings products. These reduced prices are good while supplies last.

CLEARANCE
TUBING, HOSE & FITTINGS


| Home | Products | About Us | Reference Tools | Contact Us | Request for Quote |
| News | Tradeshow Schedule | Employment Opportunities | Community Service | Why NewAge? |


Legal Notices & Trademarks | Privacy Policy | Terms & Conditions of Sale 2000 - 2017 NewAge Industries, Inc.

   facebook   linkedin   twitter   google plus

We are your "Fluid Transfer Specialists®"
Contact Us For Experienced Technical Support:
Phone: 800-506-3924 or 215-526-2300
Fax: 800-837-1856 or 215-526-2190
E-mail:
esales@newageindustries.com

NewAge® Industries, Inc., 145 James Way, Southampton, PA 18966-3817