Latham Group, Inc. Releases Inaugural Environmental, Social and Governance Report
LATHAM, N.Y., July 06, 2022 (GLOBE NEWSWIRE) -- Latham Group, Inc. (“Latham” or “the Company”) (Nasdaq: SWIM), the largest designer, manufacturer and marketer of in-ground residential swimming pools in North America, Australia and New Zealand, today announced the release of its inaugural Environmental, Social and Governance (“ESG”) Report.
“At Latham, we are driven by a desire to make a positive impact on and do right by our planet, our people and our communities,” said Scott Rajeski, President and Chief Executive Officer of Latham. “In 2021, we sharpened our focus on ESG by identifying priority environmental, social and governance topics to further weave into the fabric of our strategy. This work has culminated into the launch of our inaugural ESG report, which is just the first step in our efforts to set clear goals, measure progress and increase transparency of Latham’s environmental impacts, social outcomes and business practices. We are excited about our accomplishments to-date and look forward to continuing to make progress on our ESG strategy and ultimately deliver on our mission to lead the way towards a more sustainable future for our industry.”
Latham’s inaugural ESG report is part of the Company’s effort to demonstrate its commitment to its ESG ambitions. The Company appointed independent consultants to assess its ESG performance, benchmark its efforts against its competitors and support in establishing a comprehensive strategy to manage ESG risks and opportunities effectively. Latham’s ESG strategy references globally recognized reporting frameworks, including the Sustainability Accounting Standards Board (“SASB”) and Global Reporting Initiative (“GRI”) reporting standards. The result was a materiality matrix that identifies high and medium priority topics to help steer Latham’s ESG efforts going forward. Latham’s 2021 ESG Report can be found on the investor relations section of its website at https://ir.lathampool.com/.
About Latham Group, Inc.
Latham Group, Inc., headquartered in Latham, NY, is the largest designer, manufacturer and marketer of in-ground residential swimming pools in North America, Australia and New Zealand. Latham has a coast-to-coast operations platform consisting of over 2,000 employees across over 30 facilities.
Some of the statements contained in this press release and any related discussion are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are generally identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: secular shifts in consumer demand for swimming pools and spending on outdoor living spaces; slow pace of material conversion from concrete pools to fiberglass pools in the pool industry; general economic conditions and uncertainties affecting markets in which we operate and economic volatility that could adversely impact the Company’s business, including the COVID-19 pandemic; the impact of the war between the Russian Federation and Ukraine, including the impact of sanctions imposed by Western governments; changes in access to consumer credit or increases in interest rates impacting consumers’ ability to finance their purchases of pools; the impact of weather on the Company’s business; the Company’s ability to attract new customers and retain existing customers; the Company’s ability to sustain further growth and to manage it effectively; the ability of the Company’s suppliers to continue to deliver the quantity or quality of materials sufficient to meet the Company’s needs to manufacture the Company’s products and other risks, uncertainties and factors described under the section titled “Risk Factors” in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings made with the U.S. Securities and Exchange Commission (the “SEC”) by the Company, as well as other filings that the Company will make, or has made, with the SEC. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Nicole Briguet & Lauren Grama
Edelman for Latham