ELKHART, Ind., Oct. 29, 2020 /PRNewswire/ -- For 40 years,
THOR has utilized responsible and sustainable business practices to
make it easier and more enjoyable for families to connect with
nature, and one another. Today, THOR Industries, Inc. (NYSE: THO),
the world's largest recreational vehicle manufacturer, issued their
FY2020 sustainability report, formalizing a comprehensive, global
approach to sustainability.
"We're excited to continue our sustainability journey, which is
an integral part of our culture," shared Bob Martin, THOR President and CEO. "Our
commitment to sustainability reflects our ongoing effort to
understand and address environmental, social and governance risk by
being more proactive, resilient and adaptive. We believe these
ongoing sustainability efforts will have a very positive impact on
our business, consumers, team members, partners and the
communities in which we live, work and play."
As the global leader in the growing RV industry, THOR takes its
responsibility to promote a clean and safe environment through
responsible and sustainable business practices very seriously. THOR
believes that by pushing to do more with sustainable business
practices, it will encourage others in the industry to do the same.
THOR took significant steps in its sustainability journey in FY2020
to lead the way for the industry.
Specifically, THOR:
- Signed the UN Global Compact Business Ambition for 1.5°C
Commitment, pledging net-zero greenhouse gas (GHG) emissions by
2050.
- Announced an interim target of 50% reduction in GHG emissions
by 2030.
- Set a waste management target of 50% reduction in solid waste
to landfills by 2030.
- Signed the CEO Action for Diversity & Inclusion
Pledge™ to reinforce THOR's commitment to creating a
more inclusive workplace.
- Created a new senior management role to lead the Company's
sustainability efforts. Chris
Workman was named VP of Global Supply Management and
Sustainability.
- Established processes to collect and measure climate-related
risks of GHG emissions, water usage and waste management.
"Our sustainability program highlights our deep-rooted
commitment to better the lives of our team members and customers,
foster the viability of communities, and promote a clean and safe
environment," continued Martin. "THOR products inspire people to
travel, build connections with family and friends, and develop a
lasting appreciation for nature, and our sustainability efforts are
beneficial for our Company, our customers, the industry and the
environment over the long term."
THOR's FY2020 Sustainability Report may be viewed on the
Company's website at:
www.thorindustries.com/sustainability-report
ABOUT THOR INDUSTRIES
THOR is the sole owner of
operating subsidiaries that, combined, represent the world's
largest manufacturer of RVs. For more information, please visit:
https://www.thorindustries.com/.
FORWARD-LOOKING STATEMENTS
This release includes
certain statements that are "forward-looking" statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements are made based on management's
current expectations and beliefs regarding future and anticipated
developments and their effects upon Thor, and inherently involve
uncertainties and risks. These forward-looking statements are not a
guarantee of future performance. We cannot assure you that actual
results will not differ materially from our expectations. Factors
which could cause materially different results include, among
others: the extent and impact from the continuation of the
coronavirus pandemic, along with the responses to contain the
spread of the virus by various governmental entities or other
actors, which may have negative effects on retail customer demand,
our independent dealers, our supply chain, or our production and
which may have a negative impact on our consolidated results of
operations, financial position, cash flows and liquidity; the
ability to ramp production up or down quickly in response to rapid
changes in demand while also managing costs and market share; the
effect of raw material and commodity price fluctuations, and/or raw
material, commodity or chassis supply restrictions; the impact of
tariffs on material or other input costs; the level and magnitude
of warranty claims incurred; legislative, regulatory and tax law
and/or policy developments including their potential impact on our
dealers and their retail customers or on our suppliers; the costs
of compliance with governmental regulation; legal and compliance
issues including those that may arise in conjunction with recently
completed transactions; lower consumer confidence and the level of
discretionary consumer spending; interest rate fluctuations and
their potential impact on the general economy and specifically on
our dealers and consumers; the impact of exchange rate
fluctuations; restrictive lending practices which could negatively
impact our independent dealers and/or retail consumers; management
changes; the success of new and existing products and services; the
ability to efficiently utilize existing production facilities;
changes in consumer preferences; the risks associated with
acquisitions, including: the pace and successful closing of an
acquisition, the integration and financial impact thereof, the
level of achievement of anticipated operating synergies from
acquisitions, the potential for unknown or understated liabilities
related to acquisitions, the potential loss of existing customers
of acquisitions, and our ability to retain key management personnel
of acquired companies; a shortage of necessary personnel for
production and increasing labor costs to attract production
personnel in times of high demand; the loss or reduction of sales
to key dealers; disruption of the delivery of units to dealers;
increasing costs for freight and transportation; asset impairment
charges; cost structure changes; competition; the impact of
potential losses under repurchase or financed receivable
agreements; the potential impact of the strength of the U.S. dollar
on international demand for products priced in U.S. dollars;
general economic, market and political conditions in the various
countries in which our products are produced and/or sold; the
impact of changing emissions and other regulatory standards in the
various jurisdictions in which our products are produced and/or
sold; changes to our investment and capital allocation strategies
or other facets of our strategic plan; and changes in market
liquidity conditions, credit ratings and other factors that may
impact our access to future funding and the cost of debt.
These and other risks and uncertainties are discussed more fully
in Item 1A of our Annual Report on Form 10-K for the year ended
July 31, 2020.
We disclaim any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained in
this release or to reflect any change in our expectations after the
date hereof or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
Contact: Tyler Deur,
tdeur@lambert.com
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SOURCE THOR Industries, Inc.