In January 2006, NewAge Industries’ owners signed paperwork that sold 30% of the plastic tubing manufacturer to its employees. 15 years later, NewAge is 100% employee owned. The company’s ESOP – Employee Stock Ownership Plan – rewards long term employees at retirement and has allowed several to retire earlier than originally planned.
The ESOP encourages employees’ commitment to NewAge Industries; employees know and understand how their actions and work ethic affect not only their customers but their coworkers, their families and their futures.
That commitment was tested in 2020 like no year before and involved team leaders and team members from Sales, Engineering, Marketing and other departments assisting in Manufacturing and with other critical tasks. Since the plan’s inception in 2006, the privately-held company’s share price has appreciated 975%.
Courtesy of NewAge® Industries.
