Employee-Owned (ESOP) Company NewAge(R) Industries Continues to Grow & Prosper
Employee ownership works well for plastic tubing manufacturer NewAge Industries. The company adopted its ESOP in 2006 and has continued growing since then. NewAge currently has four employment opportunities, three of which are due to expansion.
Online, August 20, 2012 (Newswire.com) - Despite the condition of the economy in recent years, NewAge Industries, a plastic tubing and molded single use products manufacturer, is expanding. The 58-year-old company credits its transformation into an ESOP (Employee Stock Ownership Plan) corporation as part of the reason for its successes.
"It was easy to see the change in attitudes and morale after the ESOP was established. Being an owner carries a different sense of responsibility, and the employees showed their pride of ownership right away," says Ken Baker, CEO and majority stockholder. "Employees - team members, as we're known here - give more thought to everything they do. We've always been cost conscience and concerned with waste and recycling, but the ESOP brought this to a whole new level. It took one of our core Guiding Principles, 'Spend capital and expense money as if it were your own,' and kicked it up a notch."
Baker attributes company growth in part to the ESOP, noting that when team members are made to feel less like a worker and more like an owner, they look at their careers from a new perspective. "There's a true 'all for one and one for all' approach here," he states. "Employees are well aware that the way they answer the phone, make a product, or package an order affects the company's - and their - bottom line."
NewAge's growth is exhibited by its continual expansion. The company has employment opportunities for four positions, and only one of those is a replacement. Baker notes that "The new jobs are created because of controlled growth. We're very careful when we hire. We look for ethical, hard-working, quality-minded individuals who want to be part of a thriving business. And getting a nice nest egg at retirement certainly doesn't hurt."
For more information on NewAge's ESOP, job opportunities, and success, contact the Fluid Transfer Specialists(R) at NewAge Industries, Inc., 145 James Way, Southampton, PA 18966; phone 800-506-3924 or 215-526-2300; fax 800-837-1856 or 215-526-2190; e-mail: [email protected]; or visit http://www.newageindustries.com/esop.asp or http://www.newageindustries.com/employ.asp.
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NewAge(R), NewAge Industries AdvantaPure(R), Verigenics(TM), and "Fluid Transfer Specialists(R)" are trademarks of NewAge(R) Industries, Inc.
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Tags: employee owned, employee ownership, Employee Stock Ownership Plan, employee stock ownership program, ESOP, plastic hose, Plastic tubing
