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.
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.