Nova Introduces New Corporate Social Responsibility Strategy

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Dec 22, 2020, 07:00 ET

REHOVOT, Israel, Dec. 22, 2020 /PRNewswire/ -- Nova (Nasdaq: NVMI) today announced a new corporate social responsibility (CSR) strategy, guided by the Company's values and aimed to continuously enhance the Company's ethical, social and environmental performance by embedding social responsibility into business operations and stakeholder interactions. Nova believes that the implementation of its new CSR strategy will create a safer workplace for its employees and partners, improve Nova's impact on society and position the Company for long-term success.

Nova strives to connect with members of the community in a supportive and uplifting manner, building on its unique culture in which employees feel respected, safe, and empowered. The Company is committed to incorporating social responsibility into its daily operations and business management, while inviting stakeholders into its socially responsible ecosystem and holding them to the highest ethical standards.

The Company's strategy is built on five pillars:

- Diversity: Expanding organizational cultural diversity by recruiting, training and promoting diverse and disadvantaged populations.

- Inclusion: Fostering an inclusive, open minded and accepting environment by creating mechanisms for self-fulfillment while promoting diverse multi-disciplinary teams.

- Community relations: Lifting communities and promoting equality, sense of belonging and self-worth by providing resources and skill-based employee volunteering.

- Ethics: Creating an ethical, safe and motivational workplace for employees, ensuring their health, privacy and security.

- Environment: Building a sustainable future by adhering to a clear environmental policy and standards of transparency.

"In a world heavily impacted by COVID-19, we have a commitment, now more than ever, to shoulder responsibility and lend a hand to those in need. Adopting a clear corporate social responsibility strategy is a natural step in our evolution as a company, acknowledging the positive impact it can bring to people's lives," said Eitan Oppenhaim, President and Chief Executive Officer at Nova. "In the past year, as part of our effort to support the community during the global COVID-19 pandemic, we provided partners with protective personal health supplies, communication equipment to children battling cancer who were unable to receive visitors due to quarantine, and monetary contribution to families, individuals and health organizations. Our offices across the globe supported local causes for education, equality and health, and we will strive to enhance these activities post-pandemic, when other challenges arise."

About Nova: Nova is a leading innovator and key provider of metrology solutions for advanced process control used in semiconductor manufacturing. Nova delivers continuous innovation by providing state-of-the-art high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova's product portfolio, which combines high-precision hardware and cutting-edge software, provides its customers with deep insight into the development and production of the most advanced semiconductor devices. Nova's unique capability to deliver innovative X-ray and Optical solutions enables its customers to improve performance, enhance product yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world. Additional information may be found at https://www.novami.com/.

Nova is traded on NASDAQ & TASE under the symbol NVMI.

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but are not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following: our dependency on three product lines; our dependency on a small number of large customers and small number of suppliers; the highly cyclical and competitive nature of the markets we target and we operate in; our inability to reduce spending during a slowdown in the semiconductor industry; our ability to respond effectively on a timely basis to rapid technological changes; our dependency on PEMs; risks related to exclusivity obligations and non-limited liability that may be included in our commercial agreements and arrangements; our ability to retain our competitive position despite the ongoing consolidation in our industry; risks related to our dependence on our manufacturing facilities; risks related to changes in our order backlog; risks related to efforts to complete and integrate current and/or future acquisitions; risks related to worldwide financial and economic instabilities, including the implications of the ongoing novel coronavirus (COVID-19) pandemic; risks related to our intellectual property; new product offerings from our competitors; unanticipated manufacturing or supply problems; risks related to government programs we participate in; risks related to taxation; changes in customer demand for our products; risks related to currency fluctuations; risks related to technology security threats , including data breaches, cyberattacks and system disruptions, and changes in privacy laws; risks related to acquisitions we may pursue and risks related to our operations in Israel. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2019 filed with the Securities and Exchange Commission on March 12, 2020. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Measuring Instruments Ltd. does not assume any obligation to update the forward-looking information contained in this press release.

SOURCE Nova