Business services provider Cintas Corporation (CTAS) recently pledged its support to control unwarranted textile waste by collaborating with a Cincinnati-based non-profit organization, Know Hope. The strategic tie-up that aims to benefit underprivileged residents of third-world countries is also part of the Corporate Social Responsibility (:CSR) initiatives of Cintas.
According to data by the U.S. Environmental Protection Agency (:EPA), about 21 billion pounds of post-consumer textile waste is squandered annually in landfills. In order to curb such wastage, Cintas has decided to donate leftover material from its uniform production process to Know Hope. This will be utilized by the non-profit organization to produce reusable burlap bags sold by the charity. Funds generated from the sale of such bags will be used for providing basic products and services to families in Mexico, Africa, Haiti and Guatemala.
In 2013, Know Hope had produced approximately 4,300 bags and 2,500 smaller accessories to raise funds. A steady supply of textile from Cintas will enable Know Hope to generate more funds for its first Orphan Adoption Grant through Show Hope. Thus, the partnership is viewed as a win-win deal for both Cintas and Know Hope.
Based in Cincinnati, OH, Cintas provides specialized services to businesses of all types throughout North America. The company designs, manufactures, implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products and first aid and safety products for diversified businesses.
During the recession, Cintas had undertaken initiatives to enhance its operations by evaluating sales force productivity, optimizing routes and streamlining labor overhead. The company returned to year-over-year rental organic revenue growth in mid-2010 and has continued on the growth trajectory since then. This further enables the company to maintain its commitment to both sustainability and CSR initiatives.
Cintas presently has a Zacks Rank #3 (Hold). Other companies in the industry that warrant a look include Green Dot Corporation (GDOT), Xoom Corporation (XOOM) and Nielsen N.V. (NLSN), each carrying a Zacks Rank #2 (Buy).
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