Corporate Citizenship and our Environmental Practices
We are committed to practicing the highest level of environmental stewardship, thereby minimizing the impact of our manufacturing operations on the environment. Following are examples of our commitment to the environment.
- Due to its superior strength and customizable steel placement options, reinforcing concrete structures or elements with welded wire reinforcement typically requires substantially fewer tons of steel as compared to traditional reinforcing methods. Consequently, environmental impact is mitigated through more efficient allocation of resources.
- Our principal raw material is carbon steel wire rod which is produced from recycled steel scrap thereby avoiding traditional iron ore mining and pelletizing, coke production and blast furnace operations, each of which has the potential for substantial negative environmental consequences. Likewise, since our principal raw material is made from recycled steel scrap, we do not use any conflict materials.
- We make extensive use of recycling opportunities to dispose of scrap and other byproducts generated by our manufacturing processes. We recycle 100% of our metal waste and over 500,000 gallons of spent hydrochloric acid each year to various beneficial reuse applications.
- We have cooperated with several utility-company initiatives to reduce our energy consumption and to assist local utilities in efficiently managing their load by agreeing to reduce our energy use during times of high demand.
Corporate Citizenship and Our People
We believe that our ability to be successful depends on attracting and retaining a diverse base of individuals with appropriate talents. Following are examples of our commitment to corporate citizenship and our people.
We emphasize safety in all aspects of our operations, and we are proud that our rate of recordable injuries is well below the average for our industry. We continually strive to improve our safety record, and we incorporate safety metrics into incentive programs.
- We proactively engage in several outreach programs in our communities to provide employment opportunities to diverse sources of talent that may otherwise be overlooked including military veterans, formerly incarcerated individuals, and participants in high school and community college technical programs.
- We seek to attract and retain the best associates by striving to a create a positive, welcoming, and respectful workplace that promotes equal opportunity and equal treatment for all associates.
- We emphasize the importance of ethics and integrity throughout the company.
Corporate Citizenship and our Governance Practices
Our corporate decision making is focused on creating value for shareholders. To achieve this objective, we utilize returns-based metrics supported by a contemporary governance structure. Following are examples of our commitment to corporate governance.
- Our compensation combines a measure of return on invested capital and time-based equity as we believe these two measurements are closely correlated with shareholder value principles and act as a powerful incentive to employees to think and act like owners.
- We take a long-term view of our business and invest strategically in both growth opportunities and operational improvements to ensure we maintain our market leadership position.
- Our corporate governance philosophy is based on an independent Board of Directors with diverse backgrounds and experiences who conduct their oversight of management and the company based on widely accepted governance structures and procedures.