Lamb Weston Issues FY23 Global Sustainability Report
June 25 2024 - 4:30PM
Business Wire
The company’s fifth annual report includes
results from global sustainability and people initiatives,
consolidating the newly integrated operations in Europe, the Middle
East and Africa for the first time
With a focus on making fries and making strides, Lamb Weston
Holdings, Inc. (NYSE: LW) issued its fifth annual Global
Sustainability Report today, providing updates on the company’s
performance against key sustainability and people initiatives
during its fiscal year 2023.
This is the first global consolidated report for the company,
which has officially integrated its operations in Europe, the
Middle East and Africa following an acquisition in February
2023.
“This global report demonstrates the progress we’re making
around the world – and how we’re elevating the best of what we’re
doing to improve our communities and the planet,” said Mike Smith,
Chief Operating Officer, Lamb Weston. “Our team is focused on
making meaningful changes to build a more resilient business and
secure a long-term future for our people, our planet and Lamb
Weston.”
The report provides critical updates on metrics in three key
areas of focus:
- People: investing in the development and wellbeing of team
members and providing for the communities where the company
operates.
- Food: offering customers and consumers safe, high quality
potato products, made responsibly.
- Planet: reducing environmental impact and conserving natural
resources through regenerative agricultural programs and efficient
manufacturing.
The full report also establishes new long-term sustainability
targets for the global organization and provides a final progress
update on the company’s previously reported 2030 goals. The Global
Sustainability Report is available now at
https://esg.lambweston.com.
About Lamb Weston
Lamb Weston is a leading supplier of frozen potato, sweet
potato, appetizer and vegetable products to restaurants and
retailers around the world. For more than 70 years, Lamb Weston has
led the industry in innovation, introducing inventive products that
simplify back-of-house management for its customers and make things
more delicious for their customers. From the fields where Lamb
Weston potatoes are grown to proactive customer partnerships, Lamb
Weston always strives for more and never settles. Because, when we
look at a potato, we see possibilities. Learn more about us at
lambweston.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. Words such as
“improve,” “focus,” “make,” “build,” “secure,” “invest,” “provide,”
“offer,” “reduce,” “conserve,” and variations of such words and
similar expressions are intended to identify forward-looking
statements. Examples of forward-looking statements include, but are
not limited to, statements regarding: the Company’s plans,
execution, goals, areas of focus and progress. These
forward-looking statements are based on management’s current
expectations and are subject to uncertainties and changes in
circumstances. Readers of this press release should understand that
these statements are not guarantees of performance or results. Many
factors could affect these forward-looking statements and the
Company’s actual financial results and cause them to vary
materially from the expectations contained in the forward-looking
statements, including those set forth in this press release. These
risks and uncertainties include, among other things: the
availability and prices of raw materials and other commodities;
labor shortages and other operational challenges; an uncertain
general economic environment, including inflationary pressures and
recessionary concerns, any of which could adversely impact the
Company’s business, financial condition or results of operations,
including the demand and prices for the Company’s products;
difficulties, disruptions or delays in implementing new technology,
including the Company's new enterprise resource planning system;
risks associated with integrating acquired businesses, including
Lamb-Weston/Meijer v.o.f.; levels of labor and people-related
expenses; the Company’s ability to successfully execute its
long-term value creation strategies; the Company’s ability to
execute on large capital projects, including construction of new
production lines or facilities; the competitive environment and
related conditions in the markets in which the Company operates;
political and economic conditions of the countries in which the
Company conducts business and other factors related to its
international operations; disruptions in the global economy caused
by conflicts such as the war in Ukraine and conflicts in the Middle
East and the possible related heightening of the Company’s other
known risks; impacts on the Company’s business due to health
pandemics or other contagious outbreaks, such as the COVID-19
pandemic, including impacts on demand for its products, increased
costs, disruption of supply, other constraints in the availability
of key commodities and other necessary services or restrictions
imposed by public health authorities or governments; disruption of
the Company’s access to export mechanisms; risks associated with
other possible acquisitions; the Company’s debt levels; changes in
the Company’s relationships with its growers or significant
customers; actions of governments and regulatory factors affecting
the Company’s businesses; the ultimate outcome of litigation or any
product recalls; the Company’s ability to pay regular quarterly
cash dividends and the amounts and timing of any future dividends;
and other risks described in the Company’s reports filed from time
to time with the U.S. Securities and Exchange Commission. The
Company cautions readers not to place undue reliance on any
forward-looking statements included in this press release, which
speak only as of the date of this press release. The Company
undertakes no responsibility for updating these statements, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625424665/en/
Investors: Dexter Congbalay 224-306-1535
Dexter.Congbalay@lambweston.com Media: Shelby Stoolman 208-424-5461
shelby.stoolman@lambweston.com
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