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Vallourec Emphasizes Zero Tolerance Policy on Illegal Practices, Upholding Transparency and Ethics
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Lisbon, Portugal - Global steel company Vallourec has reiterated its commitment to upholding the highest standards of ethics and integrity, emphasizing a zero-tolerance policy towards illegal practices that harm public administration.
Strengthening Code of Ethics
To reinforce its Code of Ethics, Vallourec has outlined several principles that are considered illegal and will not be tolerated. These include:
- Frustrating or defrauding public bidding procedures
- Preventing or disrupting public tenders
- Manipulating economic-financial balances in contracts with the public administration
Compliance Program
The company has also established a robust Compliance Program, which includes:
- Regular inspections and investigations by public agencies
- An environment of cooperation and transparency for the proper completion of said procedures
Measures to Prevent Conflicts of Interest
Vallourec has implemented measures to prevent conflicts of interest among its employees, ensuring that personal interests do not compromise the interests of the Group companies. The company’s Privacy Program also ensures the protection of personal data in accordance with Brazilian laws and international standards.
Promoting a Culture of Integrity
To promote a culture of integrity, Vallourec engages its media channels widely and effectively to disseminate its Code of Ethics and Integrity Line to all stakeholders, including:
- Employees
- Partners
- Customers
- Suppliers
- Neighboring communities
The company provides regular training on corporate integrity practices, highlighting the importance of complying with:
- Environmental legislation
- Fair competition legislation
- Anti-corruption legislation
Vallourec Integrity Line
Vallourec has established a 24/7 external hotline, the Vallourec Integrity Line, available to all stakeholders. This hotline allows them to report any action or behavior contrary to the company’s values, such as:
- Discrimination
- Corruption
- Harassment
- Unfair practices
The hotline is hosted on a secure platform, managed by an independent company, and guarantees confidentiality and anonymity for claimants.
Encouraging Transparency and Accountability
Vallourec encourages employees, partners, customers, suppliers, service providers, and neighboring communities to report any concerns or suspicions of illegal activities to the Integrity Line. The company is committed to treating all records with total confidentiality and contributing to a safer and healthier environment.
Source: Vallourec Legal Department - Rev/2022