CANTON,
Ohio, April 10, 2024 /PRNewswire/ -- Metallus
(NYSE: MTUS), formerly known as TimkenSteel, a leader in
high-quality specialty metals, manufactured components and supply
chain solutions, today announces its membership in the Global Steel
Climate Council (GSCC), reaffirming its commitment to
sustainable steel production practices. This partnership
underscores Metallus' dedication to environmental stewardship and
marks another significant milestone in the company's sustainability
journey.
The Global Steel Climate Council serves as a vital platform for
industry leaders to collaborate, share best practices and drive
collective action toward reducing greenhouse gas emissions across
the steel value chain. By joining this alliance, Metallus seeks to
contribute to the global efforts aimed at combatting climate change
and fostering a more sustainable future.
"We are proud to join forces with the Global Steel Climate
Council in our united pursuit of sustainable steel production. Our
membership underscores our firm commitment to environmental
responsibility and reaffirms our dedication to driving positive
change within the industry," stated Mike Williams, Metallus' president and chief
executive officer.
As part of its commitment to transparency and accountability,
Metallus has also released its 2023 Sustainability Update. The
update, available at www.metallus.com/sustainability, outlines the
company's progress, initiatives and achievements in advancing
sustainability across its operations.
Key highlights from Metallus' 2023 Sustainability Update
include:
- Health and Safety Investments: Metallus invested over
$10 million in safety training and
equipment upgrades, including the deployment of artificial
intelligence (AI) technology, reinforcing its commitment to
providing employees with a workplace and culture where safety is
embedded in daily practices.
- Advancing the Circular Economy: The company continues to
prioritize sustainable manufacturing practices through efficient
use of resources and recycling initiatives, which minimizes waste
and extends the lifecycle of materials.
- Commitment to Ethical Practices: Through responsible
environmental management practices and extension of sustainability
projects through the value chain, Metallus demonstrates its
consciousness of stakeholders' and customers' priorities.
- Community Engagement: Metallus continues to support local
organizations through monetary donations and employee volunteer
work, and connects with community members to foster dialogue,
address concerns and promote sustainable development
initiatives.
Metallus remains steadfast in its commitment to sustainability
and looks forward to collaborating with industry peers,
stakeholders and policymakers to drive meaningful impact and create
a more sustainable future for generations to come.
ABOUT METALLUS INC.
Metallus (NYSE: MTUS) manufactures
high-performance specialty metals from recycled scrap metal in
Canton, OH, serving demanding
applications in industrial, automotive, aerospace & defense and
energy end-markets. The company is a premier U.S. producer of alloy
steel bars (up to 16 inches in diameter), seamless mechanical
tubing and manufactured components. In the business of making
high-quality steel for more than 100 years, Metallus' proven
expertise contributes to the performance of our customers'
products. The company employs approximately 1,840 people and had
sales of $1.4 billion in 2023. For
more information, please visit us at www.metallus.com.
FORWARD-LOOKING STATEMENTS
This news release
includes "forward-looking" statements within the meaning of the
federal securities laws. You can generally identify the company's
forward-looking statements by words such as "will," "anticipate,"
"aspire," "believe," "could," "estimate," "expect," "forecast,"
"outlook," "intend," "may," "plan," "possible," "potential,"
"predict," "project," "seek," "target," "should," "would,"
"strategy," or "strategic direction" or other similar words,
phrases or expressions that convey the uncertainty of future events
or outcomes. The company cautions readers that actual results may
differ materially from those expressed or implied in
forward-looking statements made by or on behalf of the company due
to a variety of factors, such as: (1) with respect to the company's
ability to achieve its sustainability goals, including its 2030
environmental goals, the ability to meet such goals within the
expected timeframe, changes in laws, regulations, prevailing
standards or public policy, the alignment of the scientific
community on measurement and reporting approaches, the complexity
of commodity supply chains and the evolution of and adoption of new
technology, including traceability practices, tools and processes;
(2) climate-related risks, including environmental and
severe weather caused by climate changes, and legislative and
regulatory initiatives addressing global climate change or other
environmental concerns; (3) with respect to the continuous bloom
reheat furnace investment, whether the funding awarded to support
this investment is received on the anticipated timetable, whether
the company is able to successfully complete the installation and
commissioning of the new assets on the targeted budget and
timetable, and whether the anticipated increase in throughput is
achieved; (4) the effects of fluctuations in customer demand on
sales, product mix and prices in the industries in which the
company operates, including the ability of the company to respond
to rapid changes in customer demand including but not limited to
changes in customer operating schedules due to supply chain
constraints or unplanned work stoppages, the ability of customers
to obtain financing to purchase the company's products or equipment
that contains its products, the effects of customer bankruptcies or
liquidations, the impact of changes in industrial business cycles,
and whether conditions of fair trade exist in U.S. markets; (5)
changes in operating costs, including the effect of changes in the
company's manufacturing processes, changes in costs associated with
varying levels of operations and manufacturing capacity,
availability of raw materials and energy, the company's ability to
mitigate the impact of fluctuations in raw materials and energy
costs and the effectiveness of its surcharge mechanism, changes in
the expected costs associated with product warranty claims, changes
resulting from inventory management, cost reduction initiatives and
different levels of customer demands, the effects of unplanned work
stoppages, availability of skilled labor and changes in the cost of
labor and benefits; (6) the success of the company's operating
plans, announced programs, initiatives and capital investments, the
consistency to meet demand levels following unplanned downtime, and
the company's ability to maintain appropriate relations with the
union that represents its associates in certain locations in order
to avoid disruptions of business; (7) whether the company is able
to successfully implement actions designed to improve profitability
on anticipated terms and timetables and whether the company is able
to fully realize the expected benefits of such actions; (8) the
company's pension obligations and investment performance; (9)
availability of property insurance coverage at commercially
reasonable rates or insufficient insurance coverage to cover claims
or damages; (10) the availability of financing and interest rates,
which affect the company's cost of funds and/or ability to raise
capital; (11) the effects of the conditional conversion feature of
the convertible notes due December 1,
2025, which, if triggered, entitles holders to convert the
notes at any time during specified periods at their option and
therefore could result in potential dilution if the holder elects
to convert and the company elects to satisfy a portion or all of
the conversion obligation by delivering common shares instead of
cash; (12) the impacts from any repurchases of our common shares,
including the timing and amount of any repurchases; (13)
competitive factors, including changes in market penetration,
increasing price competition by existing or new foreign and
domestic competitors, the introduction of new products by existing
and new competitors, and new technology that may impact the way the
company's products are sold or distributed; (14) deterioration in
global economic conditions, or in economic conditions in any of the
geographic regions in which the company conducts business,
including additional adverse effects from global economic slowdown,
terrorism or hostilities, including political risks associated with
the potential instability of governments and legal systems in
countries in which the company or its customers conduct business,
and changes in currency valuations; (15) the impact of global
conflicts on the economy, sourcing of raw materials, and
commodity prices; (16) unanticipated litigation, claims or
assessments, including claims or problems related to intellectual
property, product liability or warranty, employment matters,
regulatory compliance and environmental issues and taxes, among
other matters; (17) cyber-related risks, including information
technology system failures, interruptions and security breaches;
and (18) the potential impact of pandemics, epidemics, widespread
illness or other health issues. Further, this news release
represents our current policy and intent and is not intended to
create legal rights or obligations. Certain standards of
measurement and performance contained in this news release are
developing and based on assumptions, and no assurance can be given
that any plan, objective, initiative, projection, goal, mission,
commitment, expectation or prospect set forth in this news release
can or will be achieved. Inclusion of information in this news
release is not an indication that the subject or information is
material to our business or operating results.
Additional risks relating to the company's business, the
industries in which the company operates, or the company's common
shares may be described from time to time in the company's filings
with the SEC. All of these risk factors are difficult to predict,
are subject to material uncertainties that may affect actual
results and may be beyond the company's control. Readers are
cautioned that it is not possible to predict or identify all of the
risks, uncertainties and other factors that may affect future
results and that the above list should not be considered to be a
complete list. Except as required by the federal securities laws,
the company undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
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SOURCE Metallus Inc.