Recognized for its commitment to the environment, labor and human rights, ethics and sustainable procurement
FOREST LAKE, Minn., April 4, 2023 /PRNewswire/ -- Velosity, an industry leader in state-of-the-art, custom contract manufacturing and injection molding for the medical device market for more than 50 years, today announced it has been awarded the EcoVadis bronze certification for its commitment to environmental, social and governance (ESG). Velosity represents the entire family of brands and the full range of services offered under one umbrella, which includes Teamvantage, MMD Medical, Custom Mold & Design, CMD Precision Manufacturing Group, and Paradigme Engineering.
"ESG is an important aspect of our business model, and we will continue to build on the solid foundation we already have established," said Dave Hemink, CEO of Velosity. "Working through EcoVadis' rigorous assessments to understand where we currently stand in our sustainability efforts and benchmark against other organizations helps us identify where we're excelling and where we want to focus on growing. Receiving this bronze certification is the first step in our journey, providing assurance to current and future customers that Velosity values their ESG expectations, and together we can make a positive impact on the world."
EcoVadis is the world's most trusted provider of business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains. Its mission is to provide reliable, globally recognized sustainability ratings and insights that help companies reduce risk, drive improvement and accelerate positive impact on our planet and society.
Awards are given to companies that partake in the EcoVadis sustainability scorecard, which consists of a series of questions and requires proven documentation that measure seven management indicators across 21 sustainability criteria, in four themes: environment, labor and human rights, ethics, and sustainable procurement. This bronze certification indicates Velosity ranked in the top 50% of companies that took this assessment. Some of the strengths Velosity is recognized for include having an environmental policy in place on air pollution, water, energy consumption and greenhouse gases, and materials, chemicals and waste. Velosity recovers and uses input materials and ensures the safe disposal of hazardous substances. Velosity is also recognized for its labor and human rights policies, providing equitable compensation, family friendly programs and a safe and comfortable work environment.
Velosity is dedicated to benchmarking its efforts and driving improvements in the way it does business. Velosity plans on improving the organization's sustainability score by building on its strong foundation and completing the EcoVadis annual sustainability scorecard for the next two years.
Velosity serves highly regulated markets with complex, highly specialized products. This bronze certification is yet another indicator that sets Velosity apart as the provider of choice in their industry.
About Velosity
Velosity, the new parent company name for Teamvantage, MMD Medical, Custom Mold & Design, CMD Precision Manufacturing Group, and Paradigme Engineering, is an industry leader in fully integrated custom contract manufacturing, solving medical device original equipment manufacturer (OEM) customers' toughest challenges by providing strong problem-solving capabilities to help customers achieve repeatable solutions with a long-standing track record of success. With expertise in state-of-the-art custom contract manufacturing, injection molding, precision machining and tooling, Velosity provides nimble, end-to-end solutions for medical device OEMs that help bring medical devices to market faster and on budget by reducing risks through extensive knowledge and capabilities. For more information, visit www.velosity.com.
Media Contact:
Amy Moon
[email protected]
(952) 564-5733
SOURCE Velosity
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