Company: Newberry Tanks and Equipment, West Memphis, AR
Nomination Submitted by: Mayfield Consulting
Company Description: For more than 90 years, Newberry Tanks and Equipment has been manufacturing quality aboveground and underground steel tanks for the American Supply Chain and every branch of the U.S. military. The “Think Tank” of Oil and Petroleum storage, Newberry Tanks is intent on innovation: offering tanks on demand, dedicated customer service, turnkey solutions, and the fastest delivery in the country.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Metals & Mining - Medium
 Nomination Title: Newberry Tanks
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2022, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 200 words used.
Newberry Tanks and Equipment, headquartered in West Memphis, AR, has manufactured aboveground and underground steel tanks for the American supply chain and the U.S. military for nearly 100 years. Focusing on quality manufacturing, efficient delivery and customer satisfaction, Newberry excels as a premier tank fabricator for the petroleum and gas industry. Blowing past competitors in a contracting industry, Newberry stuck to its dedication to constant innovation, resulting in steady growth in revenue, productivity and workforce, exceptional customer satisfaction, and the fastest delivery times in the U.S.
On the heels of growing the company’s physical footprint by moving to a larger manufacturing facility, Newberry utilized the additional space to increase tank production by 17% in 2023, boosting sales from new and existing customers by providing faster delivery: Newberry also expanded its tank equipment business, providing innovative solutions that saved customers time and money.
That combination of increased production, faster delivery, and expanded component sales translated to 16% revenue growth in 2023, following a jump of 36% in 2022, a spectacular feat given the metal tank manufacturing industry is projected to decrease at a CAGR of 1.3% with a decline of 6.4% in 2023 alone. IBISWorld February 2023
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2022 that you wish to bring to the judges' attention (up to 250 words):
Total 249 words used.
- Expanded tank-related component sales 194%
- Went from top 10 distributor of Balcrank products regionally to number 1 nationwide
- Produced 62% more rectangular tanks in 2023
- Added strategic new hire
- Implemented “kitting” program
- Expanded Entrepreneurial Operating System to all staff
- Grew workforce 33% since 2021
Newberry managed to buck its industry’s projected downturn by landing new and growing existing customers. Committed to on-time delivery and providing customers what they need, Newberry expanded distribution partnerships for tank-related components. This non-manufacturing business got a boost from a strategic new sales hire knowledgeable in kitting - a process new to the tank industry. Utilizing kitting for a national tire retailer, Newberry packaged necessary components with the tank, eliminating third party suppliers, simplifying distribution, and reducing the customer’s costs–ensuring the tank and components arrive together at the construction site, so installation doesn’t delay schedule. Newberry’s distribution to the tire chain exploded between 2022-2023, with sales skyrocketing from $458,000 to $2.9 million.
Additionally, Newberry invested in its own by extending its EOS from senior management to the entire staff, directly impacting employee productivity.
“It pushes you to be more creative,” one employee explained. “Finding a new way to get a new customer or pushing a new product that we don't sell as much.”
That paid off for the company. While overall US tank industry revenue declined an average 1.3% annually in the last five years, Newberry managed to grow its revenue by a double-digit percentage two years in a row.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 236 words used.
Newberry celebrated robust revenue growth by expanding its manufacturing capacity and tank equipment sales. It further set itself apart by focusing on customer service and investing in its employees by extending its unique EOS program, inspiring staff to go above and beyond.
Take the “dynamic duo” sales team of V and T. With T’s sales acumen and Vince’s technical expertise, the two brought in a large chunk of new business and expanded existing accounts. They learn from each other and proactively train fellow sales representatives to offer new, innovative ideas to customers. One sales team member noted, “There's a level of comfort and trust when your salesperson is so knowledgeable about your process. Vince speaks the customer's language. The customers pick up on that and are more willing to work with us because they realize we understand what they're trying to accomplish and how we can help them do that.”
That customer-first mentality is part of the fabric of Newberry. After boasting 100% customer satisfaction in a 2021 survey, Newberry continues to earn exceptional Net Promoter Score (NPS) ratings from customers on a consistent basis. Customers praise top-notch communication, ease of doing business, dependability, and follow-through.
Coupled with its increased physical capabilities, Newberry’s commitment to its people and building relationships lets them soar above the competition. According to Newberry’s VP Sales/Marketing, “From a company perspective, we're all in charge of customer service.”
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 252 words used.
While revenue for the metal tank industry is expected to decrease over the next five years and in fact dropped more than 6% in 2023 alone, Newberry Tanks saw record growth, jumping 16% in 2023 after a whopping 36% increase in revenue the year before. Newberry continues to innovate by increasing production from a new larger manufacturing facility, expanding its tank components business, and committing to employee development by extending its EOS beyond senior management to the greater staff. That dedication has given Newberry outstanding customer service responses year after year, which has attracted new clients and extended relationships with existing customers, resulting in steady revenue growth.
Customers praised top-notch communication, ease of doing business, dependability, and follow-through. www.newberrytanks.com
“They’re always willing to find different aspects that can increase our business.” – Mavis Case Study
“Newberry has always delivered. They’re the one vendor that I never have to worry about.” – Mavis Case Study
“Quick response and attention to needs.” - Poultry company
“Patience with our ever-changing scope and tank design.” - Chemical company
“Awesome customer service, delivery date and pricing.” - Petroleum equipment company
“Always reply and respond very quickly…always on time, drivers are very good to work with.” - Fuel contractor
“Great people to deal with and timely delivery of products.” – RBM Case Study
“Whenever I need a product (it has) been in stock…if they don’t have it, they’ll find a way to get it.” – Mavis Case Study
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