Plexus Issues Fiscal 2023 Sustainability Report

/EIN News/ -- NEENAH, WI, June 24, 2024 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) released today its fiscal 2023 Sustainability Report. The report, which is now available on the company’s Sustainability web page, highlights the progress and impact of its sustainable and responsible business practices in strengthening customer partnerships, supporting team member growth and demonstrating a positive environmental and social impact.

Todd Kelsey, President and Chief Executive Officer, commented, “In service to our vision of building a better world, we made significant progress in advancing our sustainable and responsible business practices in fiscal 2023. Driven by the passion of our people, we’re committed to raising the standard of excellence as we design, manufacture and service transformative products in partnership with our customers.”

Highlights from fiscal 2023 include:

• Helping our customers deliver products to the market with lower global warming potential through our unique ability to assess a product’s impact and uncover emissions reduction opportunities across the product lifecycle
• Expanding our technical capabilities as we design, manufacture and service products to be more environmentally sustainable and responsibly produced
• Joining the UN Global Compact, focused on driving action to implement and progress change through alignment to the UN’s Sustainable Development Goals
• Achieving an 8.4% energy intensity reduction across Plexus’ manufacturing sites, the result of operational efficiency improvements, renewable energy transition projects and equipment and system optimization efforts
• Launching two new Employee Resource Groups focused on serving the needs of Veterans and members of the LGBTQIA+ community, supporting team member-driven engagement and social impact activities through our Diversity & Inclusion efforts
• Donating in excess of $1 million globally through the Plexus Community Foundation and supporting nearly 20,000 paid volunteer hours globally

Mr. Kelsey continued, “We’ve always been driven to excel for our customers, team members and communities, and this report demonstrates the multiple pathways in which we can achieve extraordinary outcomes together.”

“The progress we made in fiscal 2023 is a testament to our roots as a service organization and our people, who are at the heart of our strategy,” noted Megan Schleicher, Sr. Director of Sustainability & Social Impact. “I’m incredibly proud of our accomplishments, as we continue to evolve our ways of working in pursuit of building a better world.”

To learn more about Plexus’ efforts around sustainable and responsible business practices, 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 over 20,000 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 ability to realize anticipated savings from restructuring or similar actions, as well as the adequacy of related charges as compared to actual expenses; 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 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, including the results of any challenges with regard to such outcomes; 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, conflict in the Middle East, 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 2023 Form 10-K.