Modern slavery act transparency statement
The Perstorp Group is a trusted world industrial leader in specialty chemistry. Our culture of performance builds on more than 135 years of experience and represents a complete chain of solutions in organic chemistry, process technology and application development.
As the global leader in high growth niches, such as powder and UV cured coatings, plasticizers, synthetic lubricants and grain preservation, we are committed to develop products providing essential properties to enhance the quality, performance and profitability of our customers’ products and processes. As we look to the future, we strive for the development of smarter and safer products and sustainable processes that reduce environmental impact and create real value in end-products.
Perstorp has approximately 1,350 employees. Perstorp's head offices are located in Malmö, Sweden. Through its subsidiaries chemicals are produced in Sweden, the Unites States, China, Italy, Germany and the Netherlands. Sales in 2019 amounted to more than SEK 11.9 billion.
Our supply chain includes suppliers of goods and services which are required for our operations and as raw material to the products we produce. Suppliers are in general contracted at Group level, but each site also has local suppliers for some supplies of goods and services.
The trust of customers and other stakeholders is what our business success is built upon. That trust depends on us taking responsibility for our own operations as well as addressing any adverse impacts along our value chain. Modern slavery in all its forms, including servitude, forced labor and compulsive labor and human trafficking is completely unacceptable. We as a Group are committed to prevent occurrences of modern slavery, in any of our own businesses and in our supply chain. We operate according to our Code of Conduct which is based on our core values of care, reliability, responsibility and focused innovation. All our employees are required to read and acknowledge our Code of Conduct. In 2018 we updated our Travel Policy specifically to address the issues of human trafficking. The policy now clearly stipulates that there is a zero tolerance level regarding sexual services or other activities that may be linked to human trafficking, in conjunction with business travel.
We also request from our suppliers and business partners that they conduct their business in a lawful and ethical manner. This includes helping us prevent modern slavery in all its forms.
Our suppliers of large spend, and those considered of high risk in terms of their geographical presence, are assessed in our supplier evaluation system. They are then also required to acknowledge our Vendor Policy, which includes requirements related to amongst others, forced labor and child labor.
Our Vendor Policy also requires of suppliers to assure that they are working to ensure that Perstorp’s production and products are free of conflict minerals originating from the Democratic Republic of Congo or adjoining countries in accordance with the US Securities Exchange Commission Rule of Conflict Minerals issued on August 22, 2012 and any updates thereof.
We have not identified any occurrences of modern slavery or human trafficking in our own businesses or in our supply chain during 2018. To further mitigate any risks of such occurrences we will intensify our focus on the suppliers’ compliance with our policies, through more specific social audits in the coming years.
This statement has been approved by the Board of Directors of Perstorp Holding AB (publ) on June 28 2018, and was updated on April 22, 2020.