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

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

Deal puts Convergence Packaging under Comar's umbrella

October 24, 2014 2:00 pm ET

Convergence Packaging Holdings LLC, itself a product of mergers, now is joining together with Comar LLC.    More

Image

Akro-Plastic buying German subsidiary from Metabolix

October 24, 2014 3:32 pm ET

Akro-Plastic GmbH, a Niederzissen, Germany-based plastic compounder, has purchased the assets of Metabolix Inc.'s subsidiary in Germany.    More

Image

Gerresheimer opens first development center in China

October 24, 2014 1:34 pm ET

Medical molder Gerresheimer AG has launched a development center for medical plastic systems in Dongguan, China.    More

Image

Investment firm buys Ontario cap molder

October 23, 2014 2:01 pm ET

A company whose varied interests include food and refrigerated transportation businesses is now moving into plastic caps.    More

Image

Geist Plastics changes name to Lincoln Plastics

October 23, 2014 12:31 pm ET

Custom profile extruder Geist Plastics Inc. is changing its name to Lincoln Plastics, the company announced Oct. 23.    More

Market Reports

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 million dollar 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

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

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

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

More Events