Neways
Neways International is a privately held American multi-level marketing organization, which manufactures their own consumable products and has a presence in over 40 countries. Neways is a major employer in Utah County, Utah, where it has its headquarters. The company claims that its products are chemically safer than other brands. Neways claims that most of their products are produced at their primary manufacturing facility in Salem, Utah. Neways employs more than 500 individuals in Utah, and over 1,200 people around the world. They are approaching three-quarters of a billion dollars in annual sales.
Neways was acquired November 8, 2006, by Golden Gate Capital, a private equity firm headquartered in San Francisco, CA.
History
In 1992, Neways was incorporated and launched a line of products dubbed "Health & Wellness" and a line of personal care products. Neways Japan opened a year later. Neways completed its new corporate headquarters in Springville, Utah, in 2003. That same year Neways opened an office in Germany.
Eric Larsen was appointed the CEO of Neways in 2005.
Controversy
In 1993 Neways was forced to recall a weight loss product, as it was found to contain a large dose of the prescription diuretic furosemide 1.
Criminal actions
In 2004 Neways was convicted on criminal charges relating to the distribution of a pharmaceutical product containing human growth hormone (HGH), which is illegal to distribute without a prescription 2.
In 2005 the founders Thomas and Dee Mower were convicted of tax evasion related to personal income taxes after attempting to conceal over $4 million US dollars of income. As part of the scheme Thomas Mower created a fraudulent loan document and made false statements to an IRS special agent 3.
Neways was acquired November 8, 2006, by GGC, a private equity firm headquartered in San Francisco, CA.
Awards
Neways International was honored with the "Outstanding Business-Education Partnership" award at the 2006 Smoot Awards Ceremony May 18th 4.