OMAHA, Neb.--(BUSINESS WIRE)--Valmont® Industries, Inc. (NYSE: VMI), a global leader that provides vital infrastructure and advances agricultural productivity while driving innovation through technology, today released its 2023 Sustainability Report, the company’s eighth report since 2015.
Since its founding in 1946, Valmont has been innovating, engineering, and manufacturing sustainable solutions for some of the world’s biggest challenges. The company serves the two global markets of Infrastructure and Agriculture by providing innovative solutions that create long-term value for all stakeholders, essentially unlocking value for customers by helping their business to thrive while advancing their own sustainability goals. The 2023 Sustainability Report highlights several case studies, which demonstrate: 1) the economically and environmentally sustainable solutions that are designed to meet the growing demands within these markets and 2) the significant strides Valmont is taking in reaching its own 2025 sustainability goals.
“Continuous improvement is one of our core values at Valmont and is solidly demonstrated in our sustainability journey,” said Stephen G. Kaniewski, President and Chief Executive Officer. “Valmont has significantly reduced its manufacturing facilities’ environmental footprint in the past five years, reducing energy and normalized emissions by 43% and combustion fuel mobile source emissions by 27%. In that same period, revenues at Valmont increased by nearly $1.6 billion dollars. We’re proud to report approximately 90% of our total net sales support various ESG principles. Our keen focus on ESG improves the bottom line, creates a competitive advantage in the market, affords us the opportunity to attract and retain the best and brightest talent, and drives excellence across our businesses.”
Valmont has ESG engagement and oversight at all levels of the organization, including a dedicated ESG Committee on the Board (established in 2021), a diverse CEO-led cross-functional ESG task force, and active Green Teams who monitor energy and resource use at every manufacturing facility.
Highlights of the 2023 Sustainability Report include:
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Recommitment to 2025 environmental goals against a 2018 baseline
- 10% Reduction in Scope I/II Carbon Intensity
- 12% Additional Reduction in Normalized Global Electrical Usage
- 19% Reduction in Scope I Mobile Source Combustion Fuel Carbon Emissions
- 100% of global manufacturing facilities to adopt low-flow water fixtures for nonproduction areas
- Expanded our solar footprint across the globe including solar arrays in Minto, Australia, Indapur Taluka, India, Uberaba, Brazil and Bristol, Indiana
- Spotlight on the success of the Company’s Champion Green Teams – including awarding the annual Sustainability Award to Acacia Ridge in Queensland, Australia, for their dramatic improvements in key sustainability and employee engagement metrics
- Employee engagement pulse survey results – 85% of our global workforce responded favorably when asked questions about pride in Valmont and engagement
- Case studies highlighting product innovation, solar expansion, and sustainable infrastructure across our businesses
Valmont will host a dedicated conference call later this year to discuss its Sustainability Report and ESG Priorities, including a Q&A session for attendees. Details regarding the date and timing of this call will be announced in the future.
About Valmont Industries, Inc.
For over 75 years, Valmont has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.® at valmont.com.
Concerning Forward-Looking Statements
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management’s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, the continuing and developing effects of the pandemic including the effects of the outbreak on the general economy and the specific economic effects on the Company’s business and that of its customers and suppliers, risk factors described from time to time in Valmont’s reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, geopolitical risks, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.
