NewAge Industries Featured in Report Highlighting Innovative Employers

October 17, 2013

Home News NewAge Industries Featured in Report Highlighting Innovative Employers

ESCA is proud to share that NewAge Industries, an employee-owned company and ESCA member, was among the companies recognized as an innovative employer in a new report by The Hitachi Foundation, an independent philanthropic organization.

The report highlights companies that are “Doing Well and Doing Good”.  It specifically features companies that place emphasis on employee training, advancement, retention and satisfaction. Practices the reports says, boost morale, productivity and prosperity and give the employers a competitive edge.

CEO Ken Baker shared his thoughts on the honor saying, it is the company’s “deep investment in employee development and our incentive pay structures are key to fostering great team behavior.”

NewAge Industries’ commitment to employee-ownership has not only benefited employee-owners, but also the financial standing of the company as a whole. The company has set and regularly broken its annual revenue records over the past eight years, and worker retention far exceeds industry standards.

A study by Alex Brill, a fellow at the American Enterprise Institute, shows that employee-owned companies demonstrate higher productivity and increased economic resilience despite economic fluctuations than the general private sector specifically because of the unique benefits of the business model.

ESCA congratulates NewAge Industries and thanks The Hitatchi Foundation for recognizing this remarkable company.

In business since 1954, NewAge Industries manufactures plastic and rubber tubing in both reinforced and unreinforced styles. The company offers an overall product quality rating of 99.8%, provides custom extrusion and fabrication capabilities, and services customers worldwide. NewAge Industries maintains a large inventory and prides itself on same-day shipment of 99% 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.

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