BELOIT, Wis., Sept. 23,
2020 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC), a
global leader in the engineering and manufacturing of
high-efficiency electric motors and power transmission products,
published its 2020 Sustainability Report. The report reaffirms
Regal's commitment to increasing the benefits its products bring to
its customers and to society, while reducing the impact of its
manufacturing processes on the environment, and meaningfully
contributing to the communities where its associates live and
work.
The report shares progress in areas in which Regal believes it
has a meaningful impact: producing environmentally-friendly
products, lowering the environmental impact of its manufacturing
processes, helping its customers meet their sustainability goals,
creating a workplace culture that realizes the benefits of
diversity & inclusion, and encouraging Regal associates to give
back to the communities in which they live and work.
Highlights from the report include:
- Health & Safety are Top-of-Mind: Health and safety
is always Regal's top priority, but that objective is particularly
resonant amidst the global COVID-19 pandemic. Regal has taken
myriad actions to keep its associates safe, while producing
essential products during the pandemic, and has proudly responded
to requests from several governments to share its
COVID-safety-related best practices.
- Focus on Product & Technology Leadership: The report
highlights many examples of how Regal's innovation and technology
leadership are creating products that help its customers meet goals
for sustainability, employee safety, and an improved end user
experience, while also offering attractive economic value.
- Acknowledging Our ESG Journey: Regal's environmental
sustainability, governance, and social responsibility efforts have
been advancing for years, but there's much more to do. Regal is on
an ESG journey, and in the spirit of continuous improvement, aims
to continue realizing synergies between improving the environment,
helping our customers, supporting Regal associates and their local
communities, and achieving best-in-class outcomes for Regal
shareholders.
- Heightening Transparency: Regal seeks to provide key
stakeholders with increased transparency around progress towards
its ESG objectives, and to make its disclosures more data-centric.
The goal is to measure what's relevant to meeting key environmental
and financial objectives, which are considered synergistic.
This year's report has greatly expanded disclosures versus previous
publications.
- Raising the Bar on Sustainable Manufacturing: Regal is
committed to being a manufacturing leader when it comes to
protecting the environment. Regal sites have annual targets to
lower their environmental impacts, and the Company committed to a
10% reduction in metric tons of non-hazardous waste produced, of
CO2 emitted, and gigajoules of energy consumed by
2025.
- Supporting Communities: Regal recognizes a growing need
for companies to leverage resources and leadership to affect
positive change for the common good. Regal is committed to building
a more diverse, inclusive, and civically-minded workforce, and to
empowering its associates to effect positive change in the broader
community.
The report and downloadable assets are available here.
About the Company
Regal Beloit Corporation (NYSE: RBC) is a global leader in the
engineering and manufacturing of electric motors and controls,
power generation and power transmission products serving customers
throughout the world. We create a better tomorrow by developing and
responsibly producing energy-efficient products and systems.
The Company is comprised of four operating segments: Commercial
Systems, Industrial Systems, Climate Solutions and Power
Transmission Solutions. Regal is headquartered in Beloit, Wisconsin and has manufacturing, sales
and service facilities worldwide. For more information, visit
RegalBeloit.com.
CAUTIONARY STATEMENT
The following is a cautionary statement made under the Private
Securities Litigation Reform Act of 1995: With the exception of
historical facts, the statements contained in this release may be
forward-looking statements. Forward-looking statements represent
our management's judgment regarding future events. In many cases,
you can identify forward-looking statements by terminology such as
"may," "will," "expect," "intend," "estimate," "forecast,"
"anticipate," "believe," "should," "project" or "plan" or the
negative of these terms or other similar words. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties, assumptions and other
factors, some of which are beyond our control, which could cause
actual results to differ materially from those expressed or implied
by such forward-looking statements, including but not limited to:
the continued financial and operational impacts of and
uncertainties relating to the COVID-19 pandemic on us and our
customers and suppliers and the geographies in which we operate;
uncertainties regarding our ability to execute our restructuring
plans within expected costs and timing; actions taken by our
competitors and our ability to effectively compete in the
increasingly competitive global electric motor, drives and
controls, power generation and power transmission industries; our
ability to develop new products based on technological innovation,
such as the Internet of Things, and marketplace acceptance of new
and existing products, including products related to technology not
yet adopted or utilized in certain geographic locations in which we
do business; fluctuations in commodity prices and raw material
costs; our dependence on significant customers; risks associated
with global manufacturing; issues and costs arising from the
integration of acquired companies and businesses and the timing and
impact of purchase accounting adjustments; our overall debt levels
and our ability to repay principal and interest on our outstanding
debt; prolonged declines in one or more markets we serve, such as
heating, ventilation, air conditioning, refrigeration, power
generation, oil and gas, unit material handling or water heating;
economic changes in global markets where we do business, such as
reduced demand for the products we sell, currency exchange rates,
inflation rates, interest rates, recession, government policies,
including policy changes affecting taxation, trade, tariffs,
immigration, customs, border actions and the like, and other
external factors that we cannot control; product liability and
other litigation, or claims by end users, government agencies or
others that our products or our customers' applications failed to
perform as anticipated, particularly in high volume applications or
where such failures are alleged to be the cause of property or
casualty claims; unanticipated liabilities of acquired businesses;
unanticipated adverse effects or liabilities from business exits or
divestitures; unanticipated costs or expenses we may incur related
to product warranty issues; our dependence on key suppliers and the
potential effects of supply disruptions; infringement of our
intellectual property by third parties, challenges to our
intellectual property, and claims of infringement by us of third
party technologies; effects on earnings of any significant
impairment of goodwill or intangible assets; losses from failures,
breaches, attacks or disclosures involving our information
technology infrastructure and data; cyclical downturns affecting
the global market for capital goods; and other risks and
uncertainties including but not limited to those described in "Item
1A-Risk Factors" of the Company's Annual Report on Form 10-K filed
with the U.S. Securities and Exchange Commission on February 26, 2020 and from time to time in other
filed reports. All subsequent written and oral forward-looking
statements attributable to us or to persons acting on our behalf
are expressly qualified in their entirety by the applicable
cautionary statements. The forward-looking statements included in
this release are made only as of their respective dates, and we
undertake no obligation to update these statements to reflect
subsequent events or circumstances.
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SOURCE Regal Beloit Corporation