ELKHART, Ind., January 10, 2022 / PRNewswire / – For more than 40 years, THOR Industries has used responsible and sustainable business practices to make it easier and more enjoyable for families to connect with and with nature. Today, THOR Industries, Inc. (NYSE: THO), the world’s largest RV maker, released its fourth annual sustainability report detailing the industry-leading company’s sustainability efforts for fiscal 2021 overall from its global family of operating companies.
“We are proud of our sustainability journey, which is an integral and continuing part of our culture,” said Bob martin, President and CEO of THOR. “We are proactively addressing environmental, social and governance risks, and we believe that these continued sustainability efforts will have a very positive impact on our business, our consumers, our team members, our partners and the communities in which we live, work and play. “
As a global leader in the growing RV industry, THOR believes that using sustainable business practices will encourage others in the industry to do the same. THOR takes its responsibility to promote a clean and safe environment through responsible and sustainable business practices very seriously. In fiscal 2021, THOR took important steps on its sustainability journey to pave the way for the industry.
- THOR has taken bold steps to achieve a 50% reduction in Tier 1 and Tier 2 greenhouse gas emissions, the midpoint of its goal of net carbon neutrality by 2050, as part of the THOR program june 2020 commitment to “commercial ambition for 1.5 ° C”.
- Erwin Hymer Group, a THOR company, became a carbon neutral manufacturer in fiscal 2021, a milestone and a first for the RV industry.
- THOR has reached an important culmination in its sustainability journey by voluntarily completing the Carbon Disclosure Project (CDP) Carbon & Climate Questionnaire in March 2021, which the Company will complete each year.
- THOR’s board of directors has renamed its Governance and Nomination Committee to the Environmental, Social and Governance and Nomination Committee, as a testament to his care and commitment to sustainability.
- The company strengthened its commitment to diversity, equity and inclusion by hiring a Chief People and Inclusion Consultant to develop a DCI framework and benchmark initiatives, implement new recruitment strategies and retention, create an inclusive culture, and build partnerships that serve diverse communities through THOR’s Inclusion Committee. .
- THOR has appointed its first Director of Innovation to develop the company’s vision for the evolution of advanced technologies and the optimization of innovation. THOR believes its focus on innovation will help reduce the company’s carbon footprint and meet its sustainability goals across the THOR family of companies, globally.
- The company has partnered with and supported over 60 nonprofit organizations in the THOR family of companies, as well as the National Forest Foundation as one of the foundation’s most significant corporate sponsors.
- THOR founded the Together Outdoors Coalition, in partnership with Outdoor Recreation Roundtable (ORR). The coalition’s mandate is to work to make the outdoors a more diverse, inclusive and inviting place through education, equity and action through the joint strengths of outdoor economy organizations.
“Our global sustainability agenda underscores our deep commitment to improving the lives of our team members and clients, fostering sustainable communities and promoting a clean and safe environment,” added Todd woelfer, COO of THOR. “The products our companies make inspire people to travel, connect with family and friends, and develop a lasting appreciation of nature, and our sustainability efforts are beneficial to our business, our customers, the industry and the long-term environment. “
THOR is the sole owner of operating companies which, combined, represent the largest manufacturer of recreational vehicles in the world. For more information about the Company and its products, please visit: https://www.thorindustries.com/.
This press release includes certain statements that are “forward-looking” statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, section 27A of the Securities Act of 1933, as amended, and section 21E of the Act. Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management’s current expectations and beliefs regarding future and anticipated developments and their effects on THOR, and inherently involve uncertainties and risks. These forward-looking statements are not guarantees of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors that could lead to significantly different results include, among others: the extent and impact of the continuing COVID-19 pandemic, as well as responses to contain the spread of the virus, or its variants, by various government entities or other actors, which may adversely affect demand from retail customers, our independent resellers, our supply chain, workforce, production or other aspects of our business; the ability to rapidly increase or decrease production in response to rapid changes in demand while managing costs and market share; the effect of fluctuations in the prices of raw materials and raw materials, and / or constraints in the supply of raw materials, raw materials or chassis; dependence on a small group of suppliers for certain components used in production; the level and extent of warranty and recall claims incurred; the ability of our suppliers to financially bear any defect in their products; legislative, regulatory and fiscal and / or policy developments, including their potential impact on our resellers and their retail customers or on our suppliers; the costs of complying with government regulations; public perception and costs related to environmental, social and governance issues; legal and compliance issues, including those that may arise in connection with recently concluded transactions; declining consumer confidence and the level of discretionary consumer spending; fluctuations in interest rates and their potential impact on the economy in general and, in particular, on our resellers and consumers; the impact of exchange rate fluctuations; restrictive lending practices that could negatively impact our independent resellers and / or retail consumers; management changes; the success of new and existing products and services; the ability to maintain strong brands and develop innovative products that meet consumer demands; the ability to efficiently use existing production facilities; changes in consumer preferences; risks associated with acquisitions, including: the pace and successful closing of an acquisition, its integration and financial impact, the level of achievement of expected operational synergies from the acquisitions, the potential for unknown or underestimated liabilities related to the acquisitions , the potential loss of existing customers from acquisitions and our ability to retain key management personnel of acquired companies; a shortage of production personnel and increased labor costs to attract production personnel in times of high demand; loss or reduction of sales to key dealers; interruption of the delivery of units to dealers; increased freight and transport costs; asset impairment charges; competetion; the impact of potential losses under repurchase agreements; the potential impact of the strength of the US dollar on international demand for US dollar denominated products; the economic, commercial and general political conditions in the various countries in which our products are manufactured and / or sold; the impact of changing emissions and other regulations related to climate change in the various jurisdictions in which our products are manufactured, used and / or sold; changes in 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 affect our access to future financing and the cost of debt.
These and other risks and uncertainties are discussed in more detail in our Quarterly Report on Form 10-Q for the quarter ended. October 31, 2021 and in section 1A of our annual report on Form 10-K for the year ended July 31, 2021.
We disclaim any obligation or commitment to release any update or revision to any forward-looking statement contained in this press release or to reflect any change in our expectations after the date hereof or any change in the events, conditions or circumstances about which a statement is made. based, unless required by law.
Marc Trinske, Vice President of Investor Relations
SOURCE THOR Industries, Inc.