LEXINGTON, Ky., Sept. 8, 2020 /PRNewswire/ -- Tempur Sealy
International, Inc. (NYSE: TPX, "Company" or "Tempur Sealy") today
announced multiple initiatives to further reduce its global
environmental footprint. The Company has committed to sourcing 100%
renewable electricity for its U.S. and European Tempur-Pedic and
Sealy manufacturing operations beginning this year. Tempur Sealy
will source the renewable energy certificates ("RECs") from wind
farms across the U.S. and will be the largest bedding manufacturer
in the world to purchase RECs sufficient to power the vast majority
of its operations.
Additionally, Tempur Sealy provided an update on its investment
in solar power technology for its largest mattress manufacturing
operation located in Albuquerque, New
Mexico. While the 2020 completion date has been negatively
impacted by COVID-19, Tempur Sealy remains committed to this
initiative and now expects to complete the installation of the
solar panel technology in the first half of 2021. The solar panels
are expected to generate enough renewable energy to power all of
Tempur Sealy's Albuquerque
mattress assembly lines.
Finally, Tempur Sealy announced that it is committed to
achieving zero landfill waste for its U.S. and European
manufacturing operations by the end of 2022. Currently, over 90% of
process by-products, packaging and other materials from Tempur
Sealy U.S. and European operations are recycled or used in energy
generation. This zero-landfill initiative will increase that amount
to 100%.
Tempur Sealy Chairman and CEO Scott
Thompson commented, "We are thrilled to announce our
expanded sustainability initiatives. The actions we are taking to
drive increased renewable energy usage and reduce our waste across
our global organization are furthering our long-term commitment of
reducing our environmental footprint. I am proud our teams remain
committed to ensuring we are improving the environment while we
simultaneously manage vast efforts around rapid business growth in
a changing world."
Forward-Looking Statements
This press release contains statements that may be characterized
as "forward-looking," within the meaning of the federal securities
laws. Such statements might include information concerning one or
more of the Company's plans, objectives, goals, strategies, and
other information that is not historical information. When used in
this release, the word "expects," "plans" and variations of such
words or similar expressions are intended to identify
forward-looking statements. Any forward-looking statements
contained herein are based upon current expectations and beliefs
and various assumptions. There can be no assurance that the Company
will realize these expectations or that these beliefs will prove
correct.
Numerous factors, many of which are beyond the Company's
control, could cause actual results to differ materially from any
that may be expressed herein as forward-looking statements. These
risk factors include the impact of the macroeconomic environment in
both the U.S. and internationally on the Company's business
segments and expectations regarding growth of the mattress
industry; risks associated with the duration, scope and severity of
COVID-19 and its effects on the Company's business and operations;
a temporary or prolonged shutdown of manufacturing facilities;
uncertainties arising from global events, natural disasters or
pandemics; the effects of strategic investments on the Company's
operations, including efforts to expand its global market share;
the continued availability of renewable energy certificates;
regulatory changes affecting the recycling industry or affecting
the waste to energy industry; disruptions in recycling and reuse
infrastructure; factors affecting the reliability and dependability
of the technology supporting the Company's sustainability efforts;
general economic, financial and industry conditions, particularly
conditions relating to liquidity and financial performance;
financial distress among the Company's business partners, customers
and competitors, and financial solvency and related problems
experienced by other market participants, any of which may be
amplified by the effects of COVID-19.
Other potential risk factors include the risk factors discussed
under the heading "Risk Factors" in Part I, ITEM 1A of the
Company's Annual Report on Form 10-K for the year ended
December 31, 2019 and in Part II, ITEM 1A of the Company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. There may be other factors that
may cause the Company's actual results to differ materially from
the forward-looking statements. The Company undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date on which such statement is
made.
About the Company
Tempur Sealy International, Inc. (NYSE: TPX) is the world's
largest bedding manufacturer. Tempur Sealy International, Inc.
develops, manufactures, and markets mattresses, foundations,
pillows and other products. The Company's products are sold
worldwide through third party retailers, its own stores, and
online. The Company's brand portfolio includes many highly
recognized brands in the industry, including Tempur®,
Tempur-Pedic®, Sealy® featuring Posturepedic® Technology, and
Stearns & Foster®. World headquarters for Tempur Sealy
International is in Lexington, KY.
For more information, visit http://www.tempursealy.com or
call 800-805-3635.
Investor Relations Contact
Aubrey Moore
Investor Relations
Tempur Sealy International, Inc.
800-805-3635
Investor.relations@tempursealy.com
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SOURCE Tempur Sealy International, Inc.