PA Senator Bob Casey Visits NewAge Industries
SOUTHAMPTON, PA – On January 11 th , Pennsylvania Senator Bob Casey visited NewAge Industries in Southampton, PA to experience the culture and hear from the employees about the value of this Employee Owned Company.
Senator Casey participated in a round table discussion moderated by Jeff Johnson, a 28-year team member, who provided an overview of how and why Ken Baker, CEO, arrived at the decision to become employee owned, how the ESOP was implemented, and how it has created growth, stability, and improved benefits for the employees. Individual employee owners then shared their personal stories of how being an employee owned company has positively impacted their lives, contributes to an overall improved work environment and has created a highly effective culture focused on teamwork.
Following a summary of ESOP activity in Pennsylvania and update on legislative efforts by Kevin McPhillips, Executive Director of the Pennsylvania Center for Employee Ownership, Senator Casey was afforded an overview of products NewAge manufactures by Mary Marcus, experienced a graphical timeline of the company history with Jeff Johnson, and given a tour of the recently completed $11 million manufacturing expansion with the assistance of Bob Volk.
“We appreciate Senator Casey giving us the opportunity to tell the ESOP story from the employee perspective” said Johnson, “I believe the Senator came away with a deeper understanding of how effective ESOPs are, and how important it is to educate private owners about ESOPs as a viable exit strategy.”
In business since 1954, NewAge Industries manufactures and fabricates thermoplastic and thermoset tubing and hose. The company offers one of the broadest product lines of tubing, hose, and fittings in the U.S., and its custom extrusion and fabrication services are unrivaled. NewAge Industries maintains an inventory of over ten million feet of tubing and hose and prides itself on same-day shipment of 98% of orders for its core product lines. In 2006, NewAge initiated an ESOP (Employee Stock Ownership Plan) for the benefit of both its employees and customers.
The AdvantaPure® division of NewAge Industries is ISO 9001:2008 certified and specializes in high purity tubing, hose, single use process manifolds and systems, and other molded components for the pharmaceutical, biomedical, food, beverage, and chemical industries. All products are manufactured, stored, and shipped using the cleanest methods possible to ensure unsurpassed product purity. Automated product identification systems, including gamma stable RFID tags and labels, are offered by NewAge’s Verigenics® division.