Metals technology industry leaders announce their participation in Anti-Corruption Collective Action Initiative
The Collective Action Initiative for the Metals Technology Industry (MTI) brings together the three leading companies in the metals technology industry Danieli & C. Officine Meccaniche SpA, Primetals Technologies Limited and SMS GmbH.
The International Centre for Collective Action (ICCA) at the Basel Institute has accompanied the MTI since its inception in 2013, and has been working with the group to improve and develop their anti-corruption programs. The ICCA acts as the chair and facilitator to the MTI group and supports this important step.
Leading providers for the metals technology industry sign memorandum of understanding (MoU) for Anti-Corruption Collective Action Initiative
Danieli & C. Meccaniche SpA, Primetals Technologies Limited and SMS group join in AntiCorruption Collective Action Initiative.
The Collective Action Initiative for the Metals Technology Industry (MTI) 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 recognised 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 (ICCA) at the Basel Institute on Governance, a Swiss-based not-for-profit competency centre.
The MTI companies have signed a Memorandum of Understanding (MoU) setting out the companies’ anticorruption 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.
* In the early stages of this initiative, Primetals Technologies was represented by Siemens VAI Metals Technologies, its legal predecessor before the establishment of the Joint Venture named Primetals Technologies Limited by Mitsubishi Heavy Industries (MHI) and Siemens in January 2015.
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