EDMONTON, AB, Dec. 20,
2023 /CNW/ - K-Bro Linen Inc. ("K-Bro" or the
"Corporation") (TSX: KBL) today released its inaugural
sustainability report ("Sustainability Report") outlining the
Corporation's strategy related to Environmental, Social and
Governance ("ESG") processes and providing a foundational framework
to move forward on future objectives and initiatives.
The Sustainability Report highlights K-Bro's long-term strategy
and focuses on three pillars:
- People: Foster a customer-centric culture, take care of people,
embrace diversity, and ensure K-Bro is a great place to work.
- Partners: Be dependable, exemplify responsible business
practices, support local communities, and anticipate evolving
trends.
- Planet: Operate responsibly, prioritize energy efficiency,
embrace best management practices, and support environmental
stewardship across the supply chain.
"I am pleased to share our inaugural report as the latest step
in our ESG program. This report highlights our continuous efforts
to grow our business sustainably. We intend to publish reports
annually to outline future goals and provide updates on our
initiatives and progress," said Linda
McCurdy, President and Chief Executive Officer at K-Bro.
"Putting people first, being dependable partners and embracing
environmental stewardship have always been part of our culture.
People, Partners, and Planet are terms that are significant to our
team and form the basis of our pillars to help us engage with
stakeholders around sustainability."
"We are proud of our seven-decade history of responsible,
innovative growth. While delivering industry-leading service, we
have embraced our responsibility to society. We prioritize customer
and employee relationships, environmental stewardship, and creating
positive impacts where we do business. We are excited to share our
long-term strategy, as we contribute to progress in global
sustainability efforts."
K-Bro's Sustainability Report is available on its website
at:
https://www.k-brolinen.com/company/sustainability-report/
CORPORATE PROFILE
K-Bro is the largest owner and operator of laundry and linen
processing facilities in Canada.
K-Bro provides a comprehensive range of general linen and operating
room linen processing, management and distribution services to
healthcare institutions, hotels and other commercial
accounts. K-Bro currently operates ten processing facilities
and two distribution centres under three distinctive brands,
including K-Bro Linen Systems Inc., Buanderie HMR and Les
Buanderies Dextraze, in ten Canadian cities: Québec City, Montréal,
Toronto, Regina, Saskatoon, Prince
Albert, Edmonton,
Calgary, Vancouver and Victoria.
Fishers, acquired by K-Bro in 2017, was established in 1900 and
is an operator of laundry and linen processing facilities in
Scotland. Fishers provides linen rental, workwear hire and
cleanroom garment services to the hospitality, healthcare,
manufacturing and pharmaceutical sectors. Fishers' client base
includes major hotel chains and prestigious venues across
Scotland and the North East of
England. The company operates five
sites with facilities in Prestonhall, Perth, Newcastle, Livingston, and Coatbridge.
Additional information regarding the Corporation including
required securities filings are available on our website at
www.k-brolinen.com and on the Canadian Securities Administrators'
website at www.sedar.com; the System for Electronic Document
Analysis and Retrieval ("SEDAR").
K-Bro est le plus important propriétaire et exploitant de
buanderies au Canada. K-Bro
fournit une gamme étendue de services de buanderie aux
établissements de soins de santé, hôtels et autres clients
commerciaux. K-Bro exploite actuellement dix usines et deux centres
de distribution sous trois entités distinctes, incluant K-Bro Linen
Systems Inc., Buanderie HMR et Les Buanderies Dextraze, dans dix
villes canadiennes: Québec, Montréal, Toronto, Regina, Saskatoon, Prince
Albert, Edmonton,
Calgary, Vancouver et Victoria.
Vous pouvez obtenir des renseignements supplémentaires sur la
Société, y compris les documents déposés auprès des autorités de
réglementation, sur notre site Web, au www.k-brolinen.com et sur le
site Web des autorités canadiennes en valeurs mobilières au
www.sedar.com, via le Système électronique de données, d'analyse et
de recherche (« SEDAR »).
FORWARD LOOKING STATEMENTS
This news release contains forward-looking information that
represents internal expectations, estimates or beliefs concerning,
among other things, future activities or future operating results
and various components thereof. The use of any of the words
"anticipate", "continue", "expect", "may", "will", "project",
"should", "believe", and similar expressions suggesting future
outcomes or events are intended to identify forward-looking
information. Statements regarding such forward-looking
information reflect management's current beliefs and are based on
information currently available to management.
These statements are not guarantees of future performance and
are based on management's estimates and assumptions that are
subject to risks and uncertainties, which could cause K-Bro's
actual performance and financial results in future periods to
differ materially from the forward-looking information contained in
this news release. These risks and uncertainties include,
among other things: (i) risks associated with acquisitions,
including (a) the possibility of undisclosed material liabilities,
disputes and contingencies, (b) challenges or delays in
integrating the targets (c) the diversion of management's time and
focus from other business concerns, and (d) the use of resources
that may be needed in other parts of our business; (ii) K-Bro's
competitive environment; (iii) utility costs, minimum wage
legislation and labour costs; (iv) K-Bro's dependence on long-term
contracts with the associated renewal risk and the risks associated
with maintaining short term contracts which are characteristic of
the Villeray business ; (v) increased capital expenditure
requirements, including any upgrades to the Villeray facilities and
increased interest expense associated with drawdowns under K-Bro's
credit facility to satisfy the Villeray purchase price and
anticipated capital expenditures; (vi) reliance on key personnel;
(vii) changing trends in government outsourcing; (viii) changes or
proposed changes to minimum wage laws in Ontario, British Columbia,
Alberta, and the United Kingdom, which could have an adverse effect
on expenses in respect of employees situated in those
jurisdictions. While a portion of such expenses may be passed on to
or be recoverable from customers, there can be no assurances that
that will occur and (viii) the availability and terms of future
financing. Material factors or assumptions that were applied in
drawing a conclusion or making an estimate set out in the
forward-looking information include: (i) volumes and pricing
assumptions; (ii) expected impact of labour cost initiatives; and
(iii) frequency of one-time costs impacting quarterly and annual
financial results; and (iv) the level of capital expenditures.
Although the forward-looking information contained in this news
release is based upon what management believes are reasonable
assumptions, there can be no assurance that actual results will be
consistent with these forward-looking statements. Certain
statements regarding forward-looking information included in this
news release may be considered "financial outlook" for purposes of
applicable securities laws, and such financial outlook may not be
appropriate for purposes other than this news release. Forward
looking information included in this news release includes, without
limitation, the terms and conditions of the Acquisition and the
Amended Credit Facility and the expected revenues, earnings, growth
opportunities following the closing of the Acquisition and
statements with respect to future expectations on margins and
volume growth.
All forward-looking information in this news release is
qualified by these cautionary statements. Forward-looking
information in this news release is presented only as of the date
made. Except as required by law, the Corporation disclaims any
intention or obligation to update or revise any forward-looking
statements to reflect subsequent events or circumstances.
SOURCE K-Bro Linen Inc.