Employee owners get larger stake in NewAge Industries

By Roger Renstrom
Correspondent

Published: January 28, 2013 1:16 pm ET
Updated: January 28, 2013 1:21 pm ET

Related to this story

Topics Mergers & Acquisitions Medical Extrusion Pipe/Profile/Tubing
Companies & Associations

SOUTHAMPTON, PA. -- The employee stock ownership plan at NewAge Industries Inc. of Southampton, Pa., is gaining another 10 percent that will bring the ESOP's ownership of the business to 40 percent.

Ken Baker, majority shareholder, said he will sell the 10-percent stake. The ESOP will purchase the shares through an internal company loan. The ESOP was established in 2006.

With the addition, shares will be available to more team members and provide them retirement savings without out-of-pocket expense.

Recently, NewAge hired Stephen Kuhns as divisional manager for its industrial business.

Baker is CEO of NewAge, which extrudes, fabricates and makes reinforced and unreinforced forms of thermoplastic and thermoset tubing under the AdvantaPure brand. His father, Raymond Baker, established the business in 1954.

NewAge has a geography-oriented distribution relationship with manufacturing partner Colex International Ltd. of Leicestershire, England.


Comments

Employee owners get larger stake in NewAge Industries

By Roger Renstrom
Correspondent

Published: January 28, 2013 1:16 pm ET
Updated: January 28, 2013 1:21 pm ET

Post Your Comments


Back to story


More stories

Image

McClarin doubles in size, reach with Amtech acquisition

April 1, 2015 10:57 am ET

From Washington to Pennsylvania to Alabama, the new McClarin Plastics LLC will be twice as big and provide fiber-reinforced plastic components as...    More

Image

Bloomer Plastics takes Optimum name

April 1, 2015 10:25 am ET

Optimum Plastics is the new name of two film companies that combined their businesses in October.    More

Image

Amcor buys Nampak Flexibles

March 31, 2015 3:31 pm ET

Australian packaging giant Amcor Ltd. has bought South African-based Nampak Holdings Ltd.'s Nampak Flexibles division.    More

Image

Uponor sells plastic pipe machinery business to focus on core units

March 30, 2015 2:13 pm ET

Uponor Corp., the Finland-based maker of plastic pipe systems for plumbing, underfloor heating and cooling and infrastructure, announced March 30...    More

Image

Dow Chemical to merge chlorine operations with Olin

March 27, 2015 12:43 pm ET

Dow Chemical Co. is combining a large part of its chlorine value chain with specialty chemicals and ammunition maker Olin Corp. to create a global mat...    More

Market Reports

Trends in Resin Distribution

The growth of the North American resin distribution market is undeniable - and industry analysts are confident that growth will continue in 2015 and beyond.

This new report analyzes market trends and provides data on historical sales trends for PE (distribution and resellers), PolyOne Distribution figures, U.S. ethylene expansions based on shale gas and natural gas production by category to 2035.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events