Code of Business Conduct

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The multi-industy Algol Group has been active in international trade since 1894. We supply products and solutions for industry and healthcare. The Algol Group has a global network of partners and is present in eleven different countries. 

The values of the Algol group are accountability, collaboration and development. The values affect and define the way we conduct our business on a day-to-day basis. This Code of Business Conduct support and strengthen our operations in accordance with our values. In addition to the specific standards mentioned in this Code, we conduct all our business in a manner that is characterised by compliance with and respect for laws and regulations, contracts and other undertakings, as well as sound and fair business practices.

Algol strives to build long-term relations with customers, suppliers and other business partners based on the principles of mutual trust and confidence. We keep our business partners informed of the contents of this Code. We expect them to conduct their own business in a manner that does not conflict with this Code. Where necessary, we undertake reasonable investigations in order to verify such compliance. At the same time, we show respect for and recognition of the justified compliance requirements of our business partners.

1. Legality

We comply with all applicable laws and other legislation, regulations and general and specificobligations,agreements, guidelines and good businesspractices in all our operations. We keep accurate documents and records of our activities in order to ensure full regulatory and financial accountability.

2. Labour Conditions and Human Rights

We adhere to the UN Declaration of Human Rights, which include inter alia freedom of opinion and religion, equality and the prohibition of discrimination. We do not tolerate forced labour or child labour. As an employer, we comply with the International Labour Organization's Declaration on Fundamental Principles and Rights at Work. We respect the freedom of association and the right of collective bargaining of our employees. We treat our employees fairly and ensure that they are not subjected to any form of harassment, discriminationor abuse.

3. Health and Safety in the work environment

We provide a safe and healthy workplace for our employees. We comply with all laws and regulations relating to health and safety. We apply appropriate procedures and controls in order to implement our goal to have zero work-related accidents or incidents.

We actively look for ways to further improve our working conditions and working environment and to maintain the health of our employees. We are also committed to the safety of our environment. We store, transport and handle our products in a safe manner. We endeavour to prevent the unsafe use of any products or services provided by us.

4. Environment

We comply with all laws and regulations relating to protection of the environment. We minimise the environmental impact of our operations and to use natural resources efficiently. To that end, we arecommitted to continuously improving our internal procedures, policies and guidelines. We adhere, where applicable, to relevant environmental programmes, commitments and regulations.

A separate environmental policy of the Algol group has been put in place, and we make sure that our employees are aware of that policy and its implications on their work.

5. Anti-corruption and bribery prevention

We do not engage in any form of illegal corruption, bribery or extortion, whether in relation to public authorities and officials, in relation to our business partners or in relation to any third parties. No Algolemployee will, whether on his or her own behalf or onbehalf of any Algol entity, accept or offer any director indirect benefits that are or may be intended to promote illegal, inappropriate or improper business or personal gain. All Algol employees will avoid situations where their personal interests may conflict with those of Algol or its stakeholders. We will not under any circumstances become involved in any form of money laundering.

6. Fair Competition

We comply with all applicable, national and international, laws and regulations relating to fair competition and antitrust. We do not engage in activities that might restrain or distort fair competition. Our conduct in relation to our competitors is characterised by fairness, integrity and honesty.

7. Data protection

We recognise that the information received by us from our employees, customers, suppliers and other business partners may be of confidential, proprietary, privileged or otherwise sensitive nature. We take appropriate steps in order to protect all such information and to prevent any improper disclosure or misuse thereof.

8. Monitoring, Enforcement and Development of the Code

Adherence to the standards mentioned in this Code is continuously monitored and enforced by all levels of management within the Algol group. It is also considered an integral part of the everyday work of each employee, regardless of his or her position. Our internal processes, including internal audits, are designed to facilitate the compliance with this Code as well as the detection and rectification of any irregularities or deviations. Both as a group and as individuals, we continuously set goals and targets for ourselves in order to achieve sustainable development in the way we conduct our business.

October 2016

Print the document: Code of Business Conduct (pdf)