Discussions on Employee Ownership and Its Benefits Held
Southampton, PA —Plastic tubing manufacturer NewAge Industries was honored to host Senator Bob Casey on Friday, January 11. Senator Casey visited to experience the culture of this employee-owned company and to hear about the value of employee ownership directly from its employee-owners.
Senator Casey participated in a round table discussion moderated by Jeff Johnson, a 28-year team member, who gave an overview of how and why Ken Baker, NewAge’s CEO, arrived at the decision to become employee owned. Johnson explained how the ESOP (Employee Stock Ownership Plan) was implemented and the direct impact on growth, stability, and improved benefits for all team members.
Individual employee-owners then shared their personal stories of how being part of an employee-owned company has positively affected their lives. Several noted that the ESOP contributes to an overall improved work environment and creates a highly-effective culture focused on teamwork.
Following a summary of ESOP activity in Pennsylvania and an update on legislative efforts by Kevin McPhillips, Executive Director of the Pennsylvania Center for Employee Ownership, Senator Casey was offered an overview of the products NewAge manufactures by Mary Marcus, NewAge’s Executive Director of Quality. The Senator toured the company’s headquarters, including a recently-completed $11 million manufacturing expansion, with Johnson, Marcus and Robert Volk, Executive Director of Operations at NewAge.
“We appreciate Senator Casey giving us the opportunity to tell our ESOP story from the employee perspective,” said Johnson. “We believe the Senator came away with a deeper understanding of the effectiveness of ESOPs and how important it is to educate private-sector owners about ESOPs as a viable exit strategy.”
For more information on NewAge Industries AdvantaPure’s ESOP, visit https://www.advantapure.com or contact an emplyee-owner at 145 James Way, Southampton, PA 18966; phone 888-755-4370 or 215-526-2151; fax 888-258-4293 or 215-526-2167; e-mail: info@www.advantapure.com.
About NewAge Industries and AdvantaPure The AdvantaPure division of NewAge Industries is ISO 9001:2015 certified and specializes in high purity tubing, hose, Single-Use process tubing manifolds, BioClosure® container closure systems, and other molded components for the pharmaceutical, biopharm, biomedical, food, beverage and chemical industries. Products are manufactured, stored and shipped using methods that ensure product purity.
In business since 1954, NewAge Industries manufactures plastic and rubber tubing in reinforced and unreinforced styles. NewAge Industries maintains a large inventory of tubing and fittings for its core product lines, provides custom extrusion and fabrication capabilities, and services customers worldwide. Automated product identification systems, including gamma-stable RFID tags and labels, are offered by NewAge’s Verigenics® division. In 2006, NewAge initiated an ESOP (Employee Stock Ownership Plan) for the benefit of both its employees and customers.
