Corporate Compliance

Fairness comes first!

Everywhere in the world more and more cases of corruption scandals, forbidden agreements or cartels are being reported. In this environment it is high time to set an example. "We deal with all business partners honestly, legally and fairly, in the past, present and future"; this is the clear position of partners, supervisory board and executive board of the PFISTERER Group.

According to World Bank estimates, every year world-wide over 1000 billion US dollars are paid as bribes. One could almost gain the impression that in many industries or countries it is no longer possible to do business without bribery. Corruption is an ill-defined phenomenon. The boundaries between legal and legitimate, or illegal and illegitimate, payments are not clear. On the global scale especially, it is also the case that the ways of handling «benefits» differ in different cultures.

«Honest, legal, fair»

This principle is manifest in the PFISTERER Corporate Compliance Programme. With the help of a code of behaviour and guidelines for conduct in the area of benefits and the award of commissions, it is intended to lay down binding rules for the conduct of all managers and other staff of the PFISTERER Group. The PFISTERER Corporate Compliance Programme documents the position of the PFISTERER Group and also constitutes a message to all business partners. The PFISTERER Group makes it possible for its employees and all its business partners always to behave honestly, legally and fairly, without having to fear adverse consequences as a result. Obviously the requirement to comply with the code of behaviour and the associated guidelines assumes a detailed information programme. Therefore all staff of the PFISTERER Group are to be given training in the application of the Corporate Compliance Programme. But PFISTERER does not only wish to set an example internally; therefore all business partners, customers, suppliers and especially the marketing partners are being briefed accordingly. It is the fundamental philosophy of the PFISTERER Group to win orders by outstanding performance, and in particular by innovation, quality, flexibility and customer proximity ... and not by bribery. Fairness comes first!

The 10 principles of the
PFISTERER Corporate Compliance Management

  1. PFISTERER achieves competitive advantages exclusively through its entrepreneurial activity.
  2. All forms of corruption and forbidden agreements are strictly rejected.
  3. It is forbidden to accept or offer advantages or benefits which could improperly influence decisions, whether directly or indirectly.
  4. Local laws and regulations currently in force must be complied with strictly.
  5. In the case of foreign business transactions, the standards of the respective receiving countries and also regulations applicable internationally (e.g. restrictions on trade) are also to be observed.
  6. Commissions and fees paid to consultants, representatives or agents must be reasonable in relation to the services provided.
  7. Any mixing of private and business interests can lead to conflicts of interest and is therefore absolutely rejected.
  8. Every PFISTERER employee is obliged to protect the company’s property and that of its business partners against damage, loss or misuse, by handling such property with due care and attention.
  9. PFISTERER intellectual property, in particular trade and commercial secrets, is to be handled confidentially.
  10. PFISTERER on principle takes no part in political activities, whether directly or indirectly.
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