NEENAH, WI, June 29, 2023 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) released today its inaugural Sustainability Report. The report, which is now available on the company’s Sustainability web page, highlights the impact from Plexus’ long-standing commitment to Environmental, Social and Governance (ESG).
Todd Kelsey, Chief Executive Officer commented, “ESG is integral to Plexus’ culture and our strategy, and essential to realizing our vision to help create the products that build a better world. The long-term positive impact of our efforts are transformative for our team, our customers, our communities and our business. We’re proud to share our commitment to being a leader in ESG as we celebrate the collective impact of our global team members’ efforts.”
Highlights from fiscal 2022 in the report include:
- Deploying a suite of sustainability-oriented product lifecycle solutions to accelerate the global shift to a circular economy, with the aim to lessen the environmental impact of customers’ products and supply chains and to optimize shared value creation
- Achieving an 11.9% energy intensity reduction across Plexus’ manufacturing sites, resulting from operational efficiency improvements, renewable energy transition projects, materials reductions and other activities to eliminate waste and carbon emissions
- Launching a third Employee Resource Group (ERG), with two additional ERGs being launched in fiscal 2023 in support of team member-driven diversity and inclusion efforts
- Donating in excess of $1 million globally through the Plexus Charitable Foundation
- Completing a third party materiality assessment to assess stakeholder needs and develop strategic priorities
- Enhancing the organization’s cyber-incident preparedness and response plan
For fiscal 2023, Plexus has in excess of 40 active ESG projects underway, including equipment optimization and energy transition investments, measuring its waste-to-landfill in order to set quantifiable future reduction goals and expanding community engagement by enhancing its global paid volunteer time off program through alignment with its charitable matching program.
Megan Schleicher, Sr. Director of ESG noted, “Our inaugural Sustainability Report emphasizes the continuous opportunity we have to innovate and operate differently in order to combat the social and environmental impacts of climate change, adopt more resilient and responsible business practices, positively impact our communities and partner with our customers on their sustainability goals. We’re excited about our journey as we aid in accelerating the shift to a more sustainable and equitable economy.”
To learn more about Plexus’ ESG actions and progress please visit Plexus' Sustainability web page.
Investor and Media Contact
Shawn Harrison
+1.920.969.6325
shawn.harrison@plexus.com
About Plexus
Since 1979, Plexus has been partnering with companies to create the products that build a better world. We are a team of nearly 25,000 individuals who are dedicated to providing Design and Development, Supply Chain Solutions, New Product Introduction, Manufacturing and Sustaining Services. Plexus is a global leader that specializes in serving customers in industries with highly complex products and demanding regulatory environments. Plexus delivers customer service excellence to leading companies by providing innovative, comprehensive solutions throughout a product’s lifecycle. For more information about Plexus, visit our website at www.plexus.com.
Safe Harbor and Fair Disclosure Statement
The statements contained in this press release that are guidance or which are not historical facts (such as statements in the future tense and statements including believe, expect, intend, plan, anticipate, goal, target and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the effect of inflationary pressures on our costs of production, profitability, and on the economic outlook of our markets; the effects of shortages and delays in obtaining components as a result of economic cycles, natural disasters or otherwise; the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the ability to realize anticipated savings from restructuring or similar actions, as well as the adequacy of related charges as compared to actual expenses; the lack of visibility of future orders, particularly in view of changing economic conditions; the economic performance of the industries, sectors and customers we serve; the outcome of litigation and regulatory investigations and proceedings; the effects of tariffs, trade disputes, trade agreements and other trade protection measures; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers, maintain our current customer base and deliver product on a timely basis; the risks of concentration of work for certain customers; the particular risks relative to new or recent customers, programs or services, which risks include customer and other delays, start-up costs, potential inability to execute, the establishment of appropriate terms of agreements, and the lack of a track record of order volume and timing; the effects of start-up costs of new programs and facilities or the costs associated with the closure or consolidation of facilities; possible unexpected costs and operating disruption in transitioning programs, including transitions between Company facilities; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the fact that customer orders may not lead to long-term relationships; our ability to manage successfully and execute a complex business model characterized by high product mix and demanding quality, regulatory, and other requirements; the risks associated with excess and obsolete inventory, including the risk that inventory purchased on behalf of our customers may not be consumed or otherwise paid for by the customer, resulting in an inventory write-off; risks related to information technology systems and data security; increasing regulatory and compliance requirements; any tax law changes and related foreign jurisdiction tax developments; current or potential future barriers to the repatriation of funds that are currently held outside of the United States as a result of actions taken by other countries or otherwise; the potential effects of jurisdictional results on our taxes, tax rates, and our ability to use deferred tax assets and net operating losses; the weakness of areas of the global economy; the effect of changes in the pricing and margins of products; raw materials and component cost fluctuations; the potential effect of fluctuations in the value of the currencies in which we transact business; the effects of changes in economic conditions, political conditions and tax matters in the United States and in the other countries in which we do business; the potential effect of other world or local events or other events outside our control (such as the conflict between Russia and Ukraine, escalating tensions between China and Taiwan or China and the United States, changes in energy prices, terrorism, global health epidemics and weather events); the impact of increased competition; an inability to successfully manage human capital; changes in financial accounting standards; and other risks detailed herein and in our other Securities and Exchange Commission filings, particularly in Risk Factors contained in our fiscal 2022 Form 10-K.
