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Leading metals technology companies ink MoU for Anti Corruption Collective Action Initiative

Steel News - Published on Fri, 30 Sep 2016

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The Collective Action Initiative for the Metals Technology Industry brings together the three leading companies in the metals technology industry Danieli & C Officine Meccaniche SpA, Primetals Technologies Limited and SMS GmbH. Anti-corruption Collective Action is increasingly being recognized as a means to bring together companies and other stakeholders to address various forms of corruption risk.

The MTI Initiative member companies recognise that corruption is detrimental to the business environment and has negative social and economic impacts in the communities and countries where it occurs. This initiative reflects their shared commitment and policies against bribery and all forms of corruption, as set out in their respective Codes of Conduct and related internal policies and controls.

The MTI Collective Action Initiative provides a forum for the exchange of anti-corruption compliance best practices and related developments in the metals technology industry among its members to collaborate further in the development of joint anti-corruption initiatives in countries in which they operate.

Representatives from the senior management of these companies have been meeting regularly since mid 2013 to address anti-corruption compliance within their business sector. All the meetings have been facilitated by the International Centre for Collective Action at the Basel Institute on Governance, a Swiss based not for profit competency centre.
The MTI companies have signed a Memorandum of Understanding setting out the companies’ anti- corruption commitments and proposed actions to promote their anti-corruption principles. This MoU is complementary to and reflective of, key elements of their respective anti-corruption compliance programmes. The companies are committed to continue working together to ensure that their compliance programmes reflect best practices and fully reflect the undertakings set out in the Memorandum of Understanding. These commitments will continue to be the focus of further work by the companies and the meetings will continue to be facilitated by the ICCA in future.

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Posted By : Rabi Wangkhem on Fri, 30 Sep 2016
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