BUSINESS CODE OF CONDUCT

 

Integrity, compliance with the law and responsibility towards people and the environment are the guiding principles for LTH Castings Group Corporate Governance.

 

This Business Code of Conduct represents the commitment of LTH Castings Group to fundamental standards that make LTH Castings Group a good place to work. People are LTH Castings Group most vital asset. The individual and collective contributions of LTH Castings Group people at all levels are essential to the success of the company. In recognition of this, LTH Castings Group has developed policies and practices designed to assure that our employees enjoy the protections afforded by the concepts set forth in this Code.

 

LTH Castings Group is committed to fair and just working conditions around the world, and regards the conventions and recommendations of national and international, organizations such as the “United Nations Global Compact” and the “UN Guiding Principles on Business and Human Rights”, as being important guidelines. We therefore expect our business partners to comply with the following principles.

 

Legal Compliance

  • to comply with all applicable national laws and regulations, industry minimum standards, ILO and UN Conventions, international law and any other relevant statutory requirements, whichever requirements are more stringent

 

Respect for the Basic Human Rights

  • no discrimination or harassment on the basis of skin colour, race, nationality, social or ethnical background, health status or disability, sexual orientation, political or religious beliefs, as well as gender and age
  • to respect human dignity, privacy and personal rights of everyone
  • fair treatment of employees free from sexual harassment, corporal punishment or torture, mental abuse, forced and compulsory labour as well as threats of such treatments

 

Prohibition of Child Labour

  • to employ no workers that have not reached the minimum age according to the ILO Convention, the conventions of the UN and national laws

 

Remuneration and Working Time

  • to ensure that wages and benefits are detailed clearly and regularly for employees; wages paid for regular working hours, overtime hours and overtime differentials shall meet or exceed legal minimums and/or industry standards; illegal or unauthorized deductions from wages shall not be made
  • to comply with the respective national laws and agreements on working time; overtime hours are to be worked solely on a voluntary basis; when overtime work is needed in order to meet short-time business demand and the LTH Castings Group activity is party to collective bargaining agreement freely negotiated with workers organizations representing a significant portion of its workforce, the company may require such overtime work in accordance with such agreements; any such agreement must comply with the requirements above

 

Freedom of Association and Collective Bargaining

  • to recognize the right of free association of employees in accordance with the applicable national law and to neither favour nor discriminate against members of employee organizations or trade unions
  • to recognise the right to collective bargaining and to act in a spirit of good faith

 

Health and Safety of Employees

  • to assume responsibility for the health and safety of its employees, to provide training for employees in health and safety issues and to eliminate or minimize the risk of accidents or occupational diseases

 

Prohibition of Bribery, Extortion and other form of Corruption

  • no unlawful offering, granting, demanding or accepting of benefits or advantages to or from business partners; especially no benefits to LTH Castings Group employees and their relatives, with the exception of (promotional) gift articles of minor value and appropriate hospitality expenditures

 

Fair Competition and Prohibition of Cartels

  • to adhere to the regulations of competition and antitrust law and to obey the principle of fair competition

 

Environmental Protection

  • to act in accordance with the applicable statutory and international standards and laws regarding environmental protection, to conserve resources, to minimize the environmental impact and to continuously improve environmental protection

 

Data Protection

  • to act in accordance with the applicable statutory regulations regarding data privacy and to handle confidential information responsibly

 

Business Partners and Suppliers

  • to make reasonable efforts to promote compliance with this LTH Castings Group Code of Conduct among its business partners