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Code of conduct

MagComp AB enjoys invaluable reputation of credibility based on a history of always acting reliable, with integrity and in compliance with applicable laws and regulations. The company’s values and commitment to sustainable development are, and will always be, reflected, promoted and implemented in policies, decisions and actions.

MagComp supports and complies with the ten Principles of the UN Global Compact, see www.unglobalcompact.org .

Scope of Application

MagComp´s Code of Conduct has been established to underline the principles by which the company conducts its relations with employees, business partners and other stakeholders. It applies to all members of the organization. Further, MagComp expects all business partners (suppliers, dealers, consultants, etc.) to implement the same principles.

Business Principle

In every country in which we operate, MagComp shall accept the laws and regulations of that country. In situations where the law does not give guidance, MagComp applies its own standards based on its documented “Core values” and culture. In cases of conflict between mandatory law and the principles contained in this code, the law shall prevail.

Relations with Business Partners

MagComp’s dealings with its business partners are characterized by fairness.

MagComp shall not offer customers, potential customers, governments, agencies of governments, or any representatives of such entities, any rewards or benefits in violation of either applicable laws or reasonable and generally accepted business practices.

MagComp employees must not accept payments, gifts, or other kinds of reimbursement from a third party that could affect or appear to affect their objectivity in their business decisions.

Accounting and Reporting

All financial transactions by MagComp must be reported in accordance with generally accepted accounting practices, and accounting records must show the nature of all transactions in a correct and non-misleading manner. MagComp shall provide disclosure that is open, truthful, relevant, comprehensible and timely.

Employees and managers at all levels in MagComp shall conduct their private and other external activities and financial interests in a manner that does not conflict or appear to conflict with the interests of MagComp. Should a conflict of interest arise, it must be reported immediately by the person subject to the conflict to his/her immediate supervisor.

Political Involvement

MagComp observes neutrality with regard to political parties and candidates. Neither the names nor the assets of the MagComp Company shall be used to promote the interests of political parties or candidates.

Environmental Principles

MagComp processes are designed in such a way that energy and raw materials are used efficiently, and waste and residual products are minimized over the products’ life cycles.

Precautionary Principle

MagComp supports the precautionary principle by avoiding materials and methods posing environmental and health risks when suitable alternatives are available.

Human Rights and Workplace Practices

Within its sphere of influence, MagComp supports and respects the protection of internationally proclaimed human rights and ensures that it is not complicit in human rights abuses.

Non-Discrimination

MagComp hires and treats its employees in a manner that is not discriminating e.g. with regard to sex, transgender identity or expression, race, ethnicity, colour, religion or other beliefs, age, disability, sexual orientation, nationality, HIV/AIDS status, political opinion, union-affiliation or social origin. Diversity in the workplace at all levels is encouraged.

Labor

No form of forced, compulsory or child labor is tolerated in MagComp. The minimum employment age is the age of completion of compulsory school. Freedom of association and the right to collective bargaining and agreements shall be respected in all MagComp operations.

Health and safety

Good health and a safe working environment are fundamental conditions for our employees to perform well in their workplaces. Employees at MagComp will make efforts to identify and prevent risks for illness and accidents. It is also fundamental to work for good leadership and a good working organisation in the workplace.

Responsibility of Managers and Employees

It is the responsibility of managers at MagComp to communicate and demonstrate the content as well as the spirit of this document within their organizations and to encourage employees to reveal behavior that may be noncompliant with these principles. Explicit or implicit approval of questionable actions will not be tolerated.

Reports of violations of this code may be done anonymously and confidentially to info@magcomp.se. Persons reporting violations in good faith will not be subject to reprisal.

This Code of Conduct will be promptly and consistently enforced. Failure to comply with its provisions can result in disciplinary action.

This Code of Conduct has been approved by the Board of Directors of MagComp and is a part of the Management System of MagComp. Furthermore, it is a part of the education for all newly employed.