At NewAge Industries, succession breeds success
Article Abstract:
NewAge Industries, a Willow Grove, PA-based manufacturer of plastic and rubber tubing, and test instruments, has proven that succession in a family business can succeed. After NewAge founder and Chairman Raymond Baker handed over the company to his son, Ken, the company's yearly sales have increased to over $22 million from $7.5 million in 1986. NewAge also expanded by acquired Colex International Ltd., an English company that produces products similar to NewAge's and has annual sales of approximately $6 million. NewAge currently has production plants in Warminster, PA, and Willow Grove. The company was recently recognized by the Small Business Development Center and the Wharton's Family-Controlled Corporation Program as one of the Family Businesses of the Year.
Comment:
Proves that succession in a family business can succeed, w/ the co able to grow to $22 mil in annual sales
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Tracking down the fakes
Article Abstract:
Nocopi Technologies Inc. of West Conshohocken, PA, is a maker of anticounterfeiting products making efforts to become profitable after losing money for the last five years. The company has seen its profits remain flat for several years, while tied to licensing deals with larger manufacturers, until summer 1998. Nocopi, for more than 16 years, has been selling invisible inks and anticounterfeiting products to firms hoping to reduce their losses due to fraud, with about 70% of its $3-million annual revenue raised by supplying pharmaceuticals, clothing and perfume makers. Nocopi president and CEO Richard Check said he restructured the firm to enable it to exert more control over its sales and attempt to enhance profit margins.
Comment:
Is a maker of anticounterfeiting products making efforts to become profitable after losing money for the last five years
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Harsh realities lie ahead for MetroRail
Article Abstract:
The Southeastern Pennsylvania Transportation Authority's plan to build the MetroRail commuter rail service has some support but it may not be enough to procure federal funding for the immense project.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2001
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