Our divisions are active members of relevant industry associations and standards bodies, both in Europe and North America, where they have a positive influence variously as members and officers and technical advisors. They often participate in and chair committees within those associations on technical and other matters of interest or concern to their relevant industry, including standards, specifications and safety. These organisations include the International Magnesium Association, the Chemical Industry Association, the Zircon Industry Association, the Compressed Gas Association, the Metal Powder Producers Association, the British Standards Institute, the Canadian Standards Association, the American Society of Testing and Materials and many others.
Employee Share Schemes
Until our IPO last October, it was unfeasible to offer employee share schemes, but at the end of 2013 we implemented a scheme in our UK subsidiaries and are working to implement similar schemes in other overseas subsidiaries. This will offer as many employees as possible the opportunity to acquire a small holding in the Group’s shares, where possible in a tax-efficient manner.
The knowledge and skills of our people are key competitive advantages, and we endeavour to involve our employees through regular local, divisional and Group communications and training. In 2012 we launched a corporate management development programme aimed at developing junior and middle managers into future leaders. As far as reasonably possible, bonus arrangements are made available to motivate employees towards business targets.
Health and Safety
We want our sites to be safe places to work, and so we closely monitor near-misses, injuries and lost-time accidents (LTAs). We have chosen days lost from LTAs as a key performance indicator.
Customers and Suppliers
While we have multiple sourcing options in almost every area of the Group, our key suppliers are important to us, and we have chosen them for their combination of quality, delivery performance and value for money. We aim to pay them to terms and resolve any issues amicably.
We recognise our customers as the source of our success and that of all of our stakeholders. Our aim is to build and sustain long-term relationships based on mutual cooperation on design and high standards of quality and service. We work closely in collaboration with our customers to find more innovative solutions to their needs for advanced materials and products. Our focus is on demanding applications where our technical know-how and manufacturing expertise combines to deliver a superior product.
Responsible Business Ethics
We expect our employees and associates to apply a high ethical standard in every aspect of business. Read our Code of Ethics. We have recently introduced a corporate whistle-blowing policy to facilitate reporting of failures to maintain these standards.
Our systems are designed to ensure compliance with all laws and regulations wherever we operate and we have a number of Group and local policies to ensure compliance and best practice as appropriate. We actively participate on many regulatory bodies that oversee or regulate industries to which we sell our products. We have undertaken training on the UK Bribery Act, the US Foreign Corrupt Practices Act, both European and US Competition law and other areas related to compliance.
Our business units are encouraged to support local causes, or business-related charities.
The Group made charitable donations in 2013 amounting to $49,000 (2012: $46,000), consisting of a number of small donations to various community, welfare, health, sport and educational charities local to the businesses that make up the Group both in the United Kingdom and elsewhere.
LUXFER GROUP - a global materials technology company.