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FARO TECHNOLOGIES, INC.

(FARO)
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FARO Technologies : « Announces Two New Global Sustainability Goals to Advance ESG Efforts

02/25/2021 | 04:42am EDT
Company to Reduce Carbon Footprint 25% by 2025 and Launch STEM Scholarship Program

February 24, 2021, Lake Mary, FL - FARO Technologies, Inc. (NASDAQ: FARO), a global leader for 3D measurement, imaging and realization solutions for 3D Metrology, AEC (Architecture, Engineering & Construction), and Public Safety Analytics, today announced two new strategic goals in support of its Environment, Social & Governance (ESG) efforts.

The first new goal is to reduce the Company carbon emissions 25% by 2025 through aggressive activities that improve environmental performance. The second new goal is to establish middle and high school partnerships to improve curriculum in Science, Technology, Engineering & Mathematics (STEM) -- especially for minorities and females from low-income and disadvantaged areas. Year-one STEM funding will be $50,000 across the US, Canada, Germany, Portugal, the U.K, Singapore, and India.

"FARO is deeply committed to practicing good citizenship and global sustainability and we have a strong history of addressing ESG issues that impact the organization, our customers and the communities we serve around the globe," said Michael Burger, President & CEO. "Whether reducing our carbon footprint, embracing ethical business practices, supporting diversity in our schools or ensuring oversight of our operations and data, corporate responsibility is a business imperative woven throughout the enterprise."

FARO has a diverse global workforce and fosters a culture of trust that provides a safe and secure environment. Established ESG programs and policies drive operational excellence and maintain the highest standards possible for accountability, conduct and governance. The Company also ensures that supply chain partners adhere to these principles and practices, including the sourcing of raw materials, as outlined in the FARO Supplier Code of Conduct policy.


FARO environmental programs include minimizing facility energy consumption, commercial travel, product transportation routes, and employee commute distance as well as recycling paper products, E-waste, and other materials (metals, plastics, rubber, and carbon fiber). Social responsibility programs include corporate giving, employee volunteerism, providing technology to advance academic research and preserve history, and offering diversity-focused internships and career opportunities to students through FARO University and the New Graduates Development Program. Governance programs include ethical and legal standards of behavior that are required of all employees and business partners and maintaining a rigorous cybersecurity infrastructure to protect sensitive employee and customer data.


For more information about FARO, visit: www.faro.com.

This release contains forward-looking statements. For full disclaimer, visit: https://tech.faro.com/forward-looking-statement/

About FARO

For 40 years, FARO has provided industry-leading technology solutions that enable customers to measure their world, and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy. For more information, visit: www.faro.com.

Disclaimer

FARO Technologies Inc. published this content on 24 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2021 09:41:04 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 345 M - -
Net income 2021 -0,26 M - -
Net cash 2021 151 M - -
P/E ratio 2021 582x
Yield 2021 -
Capitalization 1 234 M 1 234 M -
EV / Sales 2021 3,13x
EV / Sales 2022 2,65x
Nbr of Employees 1 364
Free-Float 92,2%
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 67,87 $
Average target price 91,67 $
Spread / Average Target 35,1%
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Managers and Directors
Michael D. Burger President, Chief Executive Officer & Director
Allen Louis Muhich Chief Financial Officer
John Donofrio Independent Chairman
Ann Hewitt Chief Information Officer
Jason Pollock Vice President-Global Operations
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