Commitment to environmental stewardship,
social impact, and governance excellence continues to drive
progress
NOVI,
Mich., Sept. 17, 2024 /PRNewswire/ --
The Shyft Group, Inc. (NASDAQ: SHYF), the North American
leader in specialty vehicle manufacturing, assembly, and upfit for
the commercial, retail, and service specialty vehicle
markets, today announced the release of its 2024
Sustainability Report, Focusing Forward, Sustainably. The
report outlines strategic efforts in reducing emissions, improving
workplace safety, advancing belonging and inclusion, and assessing
future climate impacts through the company's first physical climate
risk assessment. The full report is available at: Sustainability
Report - The Shyft Group.
"We take great pride in the progress outlined in our 2024
Sustainability Report. Our efforts reflect a comprehensive approach
to sustainability that touches every facet of our
operations—including environmental considerations, the safety of
our workforce, and our commitment to social responsibility," said
Josh Sherbin, Chief Legal,
Administrative, and Compliance Officer. "These milestones reflect
our team's commitment to sustainable growth, and we look forward to
accelerating these initiatives in the years ahead."
The 2024 Sustainability Report builds on previous reports,
highlighting Shyft's progress from fiscal year 2023 into 2024. The
company achieved notable advances across its key sustainability
pillars—environmental stewardship, social responsibility, and
governance excellence—each integral to creating long-term value for
stakeholders, employees, and communities.
Key Highlights of the 2024 Sustainability Report:
- Reduction in Emissions: Scope 2 GHG emissions were
reduced by 15% year-over-year, driven by energy efficiency
improvements.
- Blue Arc EV™ Solutions: Secured an order of 150 Blue
Arc™ EV Trucks from FedEx, supporting the transition to
zero-emission transportation.
- Enhanced Safety Performance: As part of its Mission
Zero safety initiative, Shyft reduced its Total Recordable
Incident Rate by 40% and its Lost Time Case Incident Rate by
75%.
- Climate Risk Disclosure: The company's first physical
climate risk assessment evaluates the potential impacts of climate
change on operations, demonstrating Shyft's proactive
sustainability strategy.
- Social Responsibility: Through its Shyft For Good
program, the company is committed to donating $100,000 to non-profit organizations focused on
health, education, and the environment, reinforcing its role as a
responsible corporate citizen.
About The Shyft Group
The Shyft Group is the North
American leader in specialty vehicle manufacturing, assembly, and
upfit for the commercial, retail, and service specialty vehicle
markets. Our customers include first-to-last mile delivery
companies across vocations, federal, state, and local government
entities; the trades; and utility and infrastructure segments. The
Shyft Group is organized into two core business units: Shyft Fleet
Vehicles and Services™ and Shyft Specialty Vehicles™. Today, its
family of brands include Utilimaster®, Blue Arc™ EV Solutions,
Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Us, Spartan® RV
Chassis, Red Diamond™ Aftermarket Solutions, Builtmore Contract
Manufacturing™, and Independent Truck Upfitters. The Shyft Group
and its go-to-market brands are well known in their respective
industries for quality, durability, and first-to-market innovation.
The Company employs approximately 3,000 employees and contractors
across campuses, and operates facilities in Arizona, California, Florida, Indiana, Iowa, Maine,
Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo,
Mexico. The Company reported sales of $872 million in 2023. Learn more
at TheShyftGroup.com.
Forward Looking Statement
This release contains
information, including our sales and earnings guidance, all other
information provided with respect to our outlook for 2024 and
future periods, and other statements concerning our business,
strategic position, financial projections, financial strength,
future plans, objectives, and the performance of our products and
operations that may constitute "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. We intend the forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements in those
sections. Generally, we have identified such forward-looking
statements by using words such as "believe," "expect," "intend,"
"potential," "future," "may," "will," "should," and similar
expressions or by using future dates in connection with any
discussion of, among other things, the construction or operation of
new or existing facilities, operating performance, trends, events
or developments that we expect or anticipate will occur in the
future, statements relating to volume changes, share of sales and
earnings per share changes, anticipated cost savings, potential
capital and operational cash improvements, changes in supply and
demand conditions and prices for our products, trade duties and
other aspects of trade policy, statements regarding our future
strategies, products and innovations, and statements expressing
general views about future operating results. However, the absence
of these words or similar expressions does not mean that a
statement is not forward-looking. Forward-looking statements are
not historical facts, but instead represent only the Company's
beliefs regarding future events, many of which, by their nature,
are inherently uncertain and outside of the Company's control. It
is possible that the Company's actual results and financial
condition may differ, possibly materially, from the anticipated
results and financial condition indicated in these forward-looking
statements. Management believes that these forward-looking
statements are reasonable as of the time made. However, caution
should be taken not to place undue reliance on any such
forward-looking statements because such statements speak only as of
the date when made. We undertake no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
law. In addition, forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from the Company's historical experience and our present
expectations or projections. In addition, forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from the Company's
historical experience and our present expectations or projections.
These risks and uncertainties include, but are not limited to the
risks and uncertainties described in "Item 1A. Risk Factors" in our
Annual Report on Form 10-K for the year ended December 31, 2023, and those described from time
to time in our future reports filed with the Securities and
Exchange Commission (SEC), which are available
at www.sec.gov or our website. All forward-looking
statements in this release are qualified by this paragraph.
Investors should not place undue reliance on forward-looking
statements as a prediction of actual results. We undertake no
obligation to publicly update or revise any forward-looking
statements in this release, whether as a result of new information,
future events, or otherwise.
CONTACTS
MEDIA
Sydney
Machesky
Director, Corporate Communications
The Shyft Group
Sydney.Machesky@theshyftgroup.com
586.413.4112
INVESTORS
Randy
Wilson
Vice President, Investor Relations and Treasury
Randy.Wilson@theshyftgroup.com
248.727.3755
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SOURCE The Shyft Group, Inc.