4 unchanged sentences
(collectively with all its subsidiaries referred to in this Annual Report on Form 10-K as “Atkore,” the “Company,” “we,” “us,” and “our”) was incorporated in the State of Delaware on November 4, 2010.
−Removed: As of September 30, 2023, Atkore was the sole stockholder of Atkore International Holdings Inc.
−Removed: (“AIH”), which in turn was the sole stockholder of Atkore International, Inc.
−Removed: On December 28, 2022, AIH merged into AII, with AII being the surviving entity.
−Removed: Accordingly, Atkore is now the sole stockholder of AII.
+Added: As of September 30, 2024, Atkore was the sole stockholder of Atkore International, Inc.
We are a leading manufacturer of Electrical products primarily for the non-residential construction and renovation markets, as well as residential markets, and Safety & Infrastructure products for the construction and industrial markets.
3 unchanged sentences
These solutions are marketed to contractors, original equipment manufacturers (“OEMs”), and end-users.
−Removed: We believe we hold #1 or #2 positions in the United States by net sales in the vast majority of our products.
+Added: We believe we hold #1 or #2 positions in the United States by net sales in a significant number of our products.
The quality of our products, strength of our brands, our scale and national presence provide what we believe to be a unique set of competitive advantages that position us for profitable growth.
23 unchanged sentences
In fiscal 2024, our top ten customers accounted for approximately 40% of net sales.
−Removed: For Fiscal 2023, one customer, Sonepar USA accounted for more than 10% of sales, for fiscal 2022 and 2021, no single customer accounted for more than 10% of sales.
−Removed: Our customers include global electrical distributors (such as Consolidated Electrical Distributors, Inc., Graybar Electric Company, Rexel, Sonepar S.A.
+Added: For Fiscal 2024 and 2023, one customer, Sonepar USA accounted for more than 10% of sales, and for 2022, no single customer accounted for more than 10% of sales.
+Added: Our customers include global electrical distributors (such as CED, Graybar Electric Company, Rexel, Sonepar S.A.
and Wesco International, Inc.), independent electrical distributors including super-regional electrical distributors (such as U.S.
13 unchanged sentences
We use a variety of raw materials in manufacturing our products.
−Removed: Our primary raw materials are steel, copper and polyvinyl chloride (“PVC”) resin.
+Added: Our primary raw materials are steel, copper, polyvinyl chloride (“PVC”) resin and high density polyethylene (“HDPE”) though industry supply interruptions have occurred in the past for limited periods of time.
We believe that sources for these raw materials are well-established, generally available and are in sufficient quantity that we may avoid disruption to our business if we encounter an interruption from one of our existing suppliers.
23 unchanged sentences
Our marketing efforts are focused on key stakeholder audiences including electrical and industrial distributors, contractors, engineers, government entities, and OEM customers.
−Removed: These combined efforts
−Removed: communicate the value proposition of the overall Atkore brand by bringing together complementary solutions in our portfolio while reinforcing the individual value propositions of our leading sub-brands such as Allied Tube & Conduit, AFC Cable Systems, Kaf-Tech, Heritage Plastics, Unistrut, Power-Strut, Cope, US Tray, FRE Composites, United Poly Systems, Calbond and Calpipe.
+Added: These combined efforts communicate the value proposition of the overall Atkore brand by bringing together complementary solutions in our portfolio while reinforcing the individual value propositions of our leading sub-brands such as Allied Tube & Conduit, AFC Cable Systems, Kaf-Tech, Heritage Plastics, Unistrut, Power-Strut, Cope, US Tray, FRE Composites, United Poly Systems, Calbond and Calpipe.
Atkore sales are enabled through external commissioned sales agents and internal sales teams that drive customer acquisition and retention.
7 unchanged sentences
The main competitors in each of these segments are listed below:
−Removed: Zekelman Industries, Inc., Mitsubishi Corporation, Nucor Corporation, Southwire Company, LLC, Dura-Line Corporation, and Encore Wire Corporation plc.
+Added: Zekelman Industries, Inc., Mitsubishi Corporation, Nucor Corporation, Southwire Company, LLC, Dura-Line Corporation, and Prysmian.
Safety & Infrastructure :
2 unchanged sentences
Historically, information technology has not been a significant differentiator for us in our markets, however, we believe that the ease of doing business with us will become increasingly important to our growth and are making significant investments to improve our operations and provide valuable solutions for our customers.
−Removed: Over the past six years, Atkore has made significant investments in technology to improve our business and provide value to our customers.
+Added: Over the past seven years, Atkore has made significant investments in technology to improve our business and provide value to our customers.
Currently, we operate our business using commercially available hardware and software products with well-developed support services.
8 unchanged sentences
Our annual Employee Engagement and Alignment Survey is one of our primary tools to assess our performance as an employer of choice and to measure employee engagement and satisfaction.
−Removed: Atkore operates under a set of core values of Accountability, Teamwork, Integrity, Respect and Excellence and the Atkore Business System, which prioritizes Strategy, People and Processes, the fundamentals of how we Build Better Together.
+Added: Atkore operates under a set of core values, which are Accountability, Teamwork, Integrity, Respect and Excellence and under the Atkore Business System, which prioritizes Strategy, People and Processes, the fundamentals of how we Build Better Together.
Our culture provides employees with opportunities for personal and professional development as well as community engagement, all of which contribute to our Company’s overall success.
−Removed: In addition to many other awards, in 2023, Atkore was recognized as a Great Place to Work-Certified TM company for the third year in a row.
+Added: In addition to many other awards.
+Added: In 2024, Atkore was recognized as a Great Place to Work-Certified TM company for the fourth year in a row.
Employee Base
+Added: We believe our relationship with our employees is good.
As of September 30, 2024, we employed approximately 5,600 full-time equivalent employees of whom approximately 6% are temporary or contract workers.
3 unchanged sentences
From time to time, our collective bargaining agreements expire and come up for re-negotiations.
−Removed: On July 14, 2020, the Company and the United Steelworkers Union, representing approximately 350 employees, reached an agreement on the terms of a new collective bargaining agreement for our largest facility in Harvey, Illinois, which expires in April 2024.
−Removed: We believe our relationship with our employees is good.
−Removed: From time to time, our collective bargaining agreements expire and come up for re-negotiations.
−Removed: Our collective bargaining agreement with the Teamsters for our New Bedford, Massachusetts facility involving a bargaining unit of 194 employees expired in February 2023, and we successfully negotiated a new agreement, which now expires in February 2028.
−Removed: Our Harvey, Illinois Special Metal Processing Facility agreement with the United Steelworkers Union, involving a bargaining unit of 20 employees, expired in November 2022, and we successfully negotiated a new agreement, which now expires in November 2025.
−Removed: Our Unistrut Construction agreement with the Southern Region Carpenters Union, involving a bargaining unit of 27 employees, expired in November 2022, and we successfully negotiated a new agreement, which now expires in November 2025.
−Removed: Our Hebron Ohio facility agreement with the GMPP Alied Worker International Union, involving a bargaining unit of 58 employees, expired in April 2023, and we successfully negotiated a new agreement which now expires in April 2027.
−Removed: Our Harvey, Illinois collective bargaining agreement with the United Steelworkers involving 367 represented employees, is set to expire in April 2024.
−Removed: We believe our relationship with our employees is good.
+Added: Our Harvey, Illinois collective bargaining agreement with the United Steelworkers Union, which represents approximately 367 employees expired in April 2024.
+Added: The United Steelworkers Union employees have continued to work thus far during negotiations, which are ongoing.
Safety, Health and Well-Being
4 unchanged sentences
In 2021, we also introduced updates to our Life Saving Rules, which provide additional guidance on the actions every employee must take to ensure safe practices across our operations.
−Removed: All employees are
−Removed: required to certify compliance with the Life Saving Rules annually.
+Added: All employees are required to certify compliance with the Life Saving Rules annually.
Additionally, our employees are required to receive Atkore Kore Training and Safety Alerts, which cover high-hazard occupational safety concerns and compliance with both internal and external safety and environmental permits.
5 unchanged sentences
Our commitment to Diversity, Equity and Inclusion (“DE&I”) is embedded throughout the company with a range of programs driven by our DE&I Roadmap, which helps us identify and execute specific actions and monitor our progress toward a workplace where all employees feel they belong and are empowered to do their best work.
−Removed: In 2023, we expanded the scope DEI related training offerings, building upon our required unconscious bias training for salaried and hourly employees and reflecting our ambition to embed equity and inclusion across our business.
+Added: In 2023, we expanded the scope DE&I related training offerings, building upon our required unconscious bias training for salaried and hourly employees and reflecting our ambition to embed equity and inclusion across our business.
In 2022, we also expanded our anti-harassment policy to expressly prohibit bullying, in addition to discrimination and all forms of harassment, and all Atkore employees are required to complete anti-harassment training.
−Removed: Our DEI Steering Committee sponsored a number of community events and contributions in 2023, including back-to-school backpack drives for lower social-economic communities, and engagement with a variety of LGBTQIA+ community organizations, including as a sponsor for the Center on Halsted's annual gala and career fair in Chicago, Illinois.
+Added: Our DE&I Steering Committee sponsored a number of community events and contributions in 2024, including back-to-school backpack drives for lower social-economic communities, and engagement with a variety of LGBTQIA+ community organizations, including as a sponsor for the Center on Halsted's annual gala and career fair in Chicago, Illinois.
We regularly evaluate our progress on DE&I across the company.
−Removed: Our longstanding DE&I Steering Committee leads many of our programs and internal efforts, evaluating how we can continue to improve and create a more inclusive culture.
−Removed: Each employee is encouraged to bring their uniqueness to the Company, which unlocks their individual potential and Atkore’s organizational potential.
+Added: During 2023, we expanded our DE&I reach by introducing location Diversity, Equity and Inclusion champions at many of our locations globally.
+Added: These champions provide support by bringing greater awareness of DE&I initiatives at a local level and driving many internal and community-based activities.
+Added: Each of our employees is encouraged to bring their uniqueness to the Company, which unlocks their individual potential and Atkore’s organizational potential.
Talent Development and Retention
−Removed: Our ability to successfully operate, grow and implement key business strategies is dependent upon our ability to attract, develop and retain talented employees at all levels of our Company.
+Added: Our ability to successfully operate, grow and implement key business strategies is dependent upon our ability to attract, develop and retain talented employees at all levels of our organization.
As part of our human capital resource objectives, we support our employees by using strategic workforce planning to forecast future needs, building, and leveraging an inclusive leadership mindset, and applying a robust talent management process, including our onboarding and immersion program and our monthly organizational leadership review cadence.
1 unchanged sentence
In fiscal 2024, approximately 22% of our total positions filled came from internal promotions, highlighting our commitment to developing our employees.
+Added: Our successful ALDP program continues to generate talented leaders.
+Added: This program provides recent graduates with the opportunity to navigate through a robust two-year rotational program, designed to teach and develop key skills while working within various functions of the organization.
The Company rewards employees with competitive compensation and benefits packages, including attractive medical plans, retirement plans, opportunities for annual bonuses and, for eligible employees, long-term incentives and equity-based compensation.
3 unchanged sentences
An aligned employee lives our mission and values, learns our strategic priorities and links their individual goals to those priorities.
−Removed: Our 2023 engagement and alignment survey had an overall participation rate of 81%.
+Added: Our 2024 engagement and alignment survey had an overall
+Added: participation rate of 81%.
In fiscal 2024, 73% of our hourly workforce participated in the survey, compared to 72% of hourly employees in fiscal 2023.
−Removed: The result of the survey showed the following favorable percentages:
−Removed: Engagement 83%;
−Removed: Alignment 87%;
−Removed: and Diversity Equity & Inclusion 84%.
Atkore is committed to supporting human rights and fair labor practices.
−Removed: We will not tolerate human rights abuses of any kind, including human trafficking, child labor or incidents of corruption within our
−Removed: company or supply chain.
+Added: We will not tolerate human rights abuses of any kind, including human trafficking, child labor or incidents of corruption within our company or supply chain.
Employees are encouraged to report any potential violations or concerns, and all reports are promptly and impartially investigated.
21 unchanged sentences
impose liability for the costs of investigating and remediating, and damages resulting from, present and past releases of hazardous substances and protect the health and safety of our employees.
−Removed: We have incurred, and expect to continue to incur, capital expenditures in addition to ordinary course costs to comply with applicable current and future environmental, health and safety laws, such as those governing air emissions and wastewater discharges.
+Added: We have incurred, and expect to continue to incur, capital expenditures in addition to ordinary course costs to comply with applicable current and future environmental, health and safety laws, such as those governing air emissions, wastewater discharges and waste disposal.
In addition, government agencies could impose conditions or other restrictions in our environmental permits which increase our costs.
18 unchanged sentences
A new permit was issued August 5, 2021 that included a less stringent permit limit based on the receiving stream evaluation, which also included a one-year start-up / shake-down period to meet the new zinc limit.
−Removed: We continued to keep the IPEA informed on our progress.
+Added: We continued to keep the IEPA informed on our progress.
The facility achieved intermittent compliance during the one-year start-up / shake-down period and throughout the remainder of 2022, and into 2023.
4 unchanged sentences
For example, we are currently monitoring and passively remediating groundwater contamination at our Wayne, Michigan facility.
−Removed: Future remediation activities may be required to address contamination at or migrating from the Wayne, Michigan site.
+Added: Future investigation and remediation activities may be required to address contamination at or migrating from the Wayne, Michigan site as well as addressing vapor intrusion issues at nearby residences.
We have maintained good working relationships with the State of Michigan Department of Environment, Great Lakes, Energy, the City of Wayne and the residents surrounding our facility.
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.