New Way® Air Bearings Ranks No. 4,758 on the 2008 Inc. 5,000 With Three-Year Sales Growth of 47.9%
Aston, Pennsylvania, USA, September 2, 2008 – Inc. Magazine has ranked New Way® Air Bearings No. 4,758 on its second annual ranking of the 5000 fastest-growing private companies in the country. The list is the most comprehensive look at the most important segment of the domestic marketplace – America’s independent-minded entrepreneurs. Taken as a whole, these companies represent the backbone of the U.S. economy.
New Way Air Bearings, the world’s largest independent air bearing manufacturer, achieved the No. 4,758 ranking on this year’s Inc. 5,000 list, with revenue growth of 47.9% from 2004 through 2007.
“To make the Inc. 5000 list for the second straight year is quite an honor,” said New Way president Nick Hackett. “We’re especially pleased because we were able to show continued strong growth even as the semiconductor market underperformed in 2007. With semiconductor’s return to strength, and our diversification into other markets, New Way is well-positioned for future growth.”
The 5000 companies that made the list reported aggregate revenue of $185 billion. Most important, the 2008 Inc. 5000 companies were engines of job growth, having created more than 826,033 jobs since those companies were founded.
“Our ranking on the Inc. 5000 certainly reflects the job growth we’ve experienced here at New Way,” agreed New Way human resources director Jennifer DeWhitt. “From 2004 through 2007, the company increased its workforce by 73.8%. And we’re still growing swiftly in 2008. We continue to seek out experienced engineering and machining professionals.”
In just its second year, the Inc. 5000 provides the deepest look ever into the private companies that drive the American economy.
“Our second annual Inc. 5000 continues the most ambitious project in business journalism,” said Inc. 5000 Project Manager Jim Melloan. “The Inc. 5000 gives an unrivalled portrait of young, underreported companies across all industries doing fascinating things with cutting-edge business models, as well as older companies that are still showing impressive growth.”
Founded in 1994, New Way Air Bearings’ growth accelerated with the 2005 launch of new products engineered to meet the needs of Flat Panel Display (FPD) manufacturers globally.
“To make the Inc. 5,000 list again is exceptional,” said New Way chairman and chief technology officer Drew Devitt. “It’s a testament to our consistency, to the innovation of our air bearing technology, and to our manufacturing strength right here in the Philadelphia area. It also means we’re selling a lot of product, here in the States and around the world…especially in the Far East.”
Complete results of the Inc. 5000, including company profiles and a list of the fastest-growing companies that can be sorted by industry and region, can be found at http://www.inc5000.com/. The list features a profile for each company, almost all of them written as a result of Inc. interviews with management. In addition, the list is searchable according to numerous criteria, including industry, city, state, region, and year founded.
The profile of New Way Air Bearings can be found at www.inc.com/inc5000/2008/company-profile.html?id=200847580.
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About Inc. 500|Inc. 5000 Conference
Each year, Inc. magazine and Inc.com celebrate the remarkable achievements of today’s entrepreneurial superstars – the privately held small businesses that drive our economy. The Inc. 500|Inc. 5000 Conference brings together members of the Inc. 5000 community-both a new class of Inc. 5000 honorees and the list’s alumni-for three days of powerful networking, inspired learning, and momentous celebration. For the first time ever, this powerful networking event is open to all. Please join us September 18-20, 2008 at the Gaylord National Resort and Convention Center in Washington, D.C. For more information or to register, visit this link or call us at 877-211-0489.
About New Way Air Bearings
New Way® Air Bearings, Inc. is the market leader in the design and manufacture of modular air bearings and is the recognized provider of porous media air bearing solutions. Founded in 1994, New Way is located in Aston, Pennsylvania, USA, just fifteen minutes from Philadelphia International Airport.
New Way was named to Inc. Magazine‘s list of the 5,000 fastest-growing, private companies in America in 2007 and now also in 2008. In November of 2007, The Greater Philadelphia Chamber of Commerce named New Way recipient of its Technological Excellence of the Year Award for 2008.
Visit New Way Air Bearings at stg.newwayairbearings.com. This web site includes specifications for the company’s full product range, design and installation guides, mounting hardware, air specifications, technical support, and a full range of accessories.