Sustainability is an integral part of our operations and it is based on the company’s values, strategy and operating methods. We comply with the laws and regulations of the countries where we have operations and with our common, Group-wide operating principles and policies in daily management and operations as well as in cooperating with all stakeholders. Our operations are based on Componenta’s common values: openness, honesty and respect.
All Componenta production units have third-party certified quality and environmental management systems. The production units in the Högfors and Pori foundries in Finland also have a certified OHSAS 18001 occupational health and safety system.
In the long term, economic responsibility for Componenta means safeguarding competitive business operations and profitability, and increasing shareholder value. The restructuring procedures currently underway in Finland and Sweden will make it possible to put business operations back on a healthy footing and to develop them in future, but there is still uncertainty concerning the success of the restructuring proceedings and going concern.
Social responsibility is based on Componenta’s human resources policy, management principles and values. We respect the rights of our employees, and international human rights and equal rights treaties provide the fundamental principles for Componenta’s business culture. We do not condone any form of bribery or discrimination under any circumstances. Our approach to suppliers also involves a focus on environmental and safety requirements, social responsibility and ethical principles. We do not pay bribes or make any other illegal payments.
Componenta’s environmental responsibility includes minimising the environmental impacts of cast components and their production throughout the supply chain, from raw material to finished casting products. Componenta is also a significant recycler of raw materials and waste. The life cycle environmental impact of a product can be influenced starting from component engineering and the choice of materials.
Most of the raw material used for cast components is recycled metal. In 2016, recycled steel accounted for 52% of the steel used at the Group’s iron foundries. In 2016, 91% of the waste generated in production processes was directed to be reused. The high quality of our products and operations also means minimising the environmental impact of our production and maximising cost-efficiency. The better the quality we produce, the lower the number of rejected castings and the smaller the consumption of raw material, energy and resources.