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Compliance

The voestalpine Group has continually expanded its compliance activities since it went public in 1995. In the interest of all stakeholders, such as shareholders and employees, these activities are aimed at protecting the company from enormous financial damages and a considerable loss of reputation.

An example are the regular training courses in antitrust law that have been held since 2002. A major step was the introduction of a Code of Conduct that went into effect in 2009. All Group managers were required to ensure that their areas were in compliance with legal and company standards. An e-learning program on antitrust law alone was completed by more than 4,500 people who also took the final exam.

Strong internal and external signal

In 2011, voestalpine again intensified compliance activities. A Group-wide compliance organization was set up and employees underwent extensive training in external and internal rules of conduct. The main focus was on protecting free competition (antitrust law) and corruption prevention. Group guidelines were issued that included regulations on dealings with business brokers and advisors, acceptance and giving of gifts, and sponsoring.

„We have set down perfectly clear, high standards that show our customers, suppliers and shareholders, that voestalpine Group employees are reliable, fair, open partners,“

CEO Wolfgang Eder

Group-wide compliance structure

voestalpine views compliance as all-encompassing. The compliance organization set up by voestalpine stipulates that there be a Compliance Officer at the Group level and in each Division. The Compliance Officers acts as the internal contact for all matters and questions related to “Rules of business conduct”. There are now two ways to report suspected compliance breaches. They can be reported to the usual contacts, e.g. a superior, Managing Director, HR department, legal department, and works council or they can be entered in a new web-based whistleblower hotline. The whistleblower hotline also allows anonymous reporting of breaches.

„Compliance is much more than just acting in accordance with legal principles. It is an expression of a culture – a culture that values tolerance in our dealings with one another on the one hand and that runs according to clear, transparent rules on the other hand. It should cause us to measure our own conduct against our company's values and principles and against human behavior in general,“

CEO Wolfgang Eder

About voestalpine The voestalpine Group is a steel-based technology and capital goods group that operates worldwide. With its top-quality products, the Group is one of the leading partners to the automotive and consumer goods industries in Europe and to the oil and gas industries worldwide.
Facts
50 Countries on all 5 continents
500 Group companies and locations
48,100 Employees worldwide
Earnings FY 2013/14
11.2 Billion Revenue
1.4 Billion EBITDA
  • voestalpine Share - Last Price:   30.88 € (-0.02 € / -0.06 %)      24.10.2014 16:14 MEZ Wiener Börse (ATX 2,155.58+)
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