This is the modern slavery and human trafficking statement of Pressure Technologies plc and all its subsidiaries (the “Group”). This statement is made pursuant to s.54(1) of the UK Modern Slavery Act 2015 (the “Act”) and adopted by the companies in the Group as their respective slavery and human trafficking statement. A full list of such companies is held at Pressure Technologies Plc registered office in accordance with the Act.
The Group is committed to preventing acts of modern slavery and human trafficking from occurring within its business and supply chain, and will impose the same high standards on its suppliers. The Group acknowledges its responsibilities in relation to tackling modern slavery and commits to complying with the provisions in the Act.
Structure of the Organisation
The Group comprises four divisions (Precision Machined Components; Engineered Products; Cylinders; Alternative Energy) and is primarily focused in the defence, oil and gas and alternative energy sectors. It employs 247 people worldwide and has business operations in the UK and Europe, North America and Australasia. Additionally it has agents and distributors in these areas and South East Asia, Russia, Africa, South America, the Middle East and India.
The Group has a global annual turnover of £38.4M. More about the nature of the Group’s business can be found at www.pressuretechnologies.com
The Group works with a range of suppliers primarily based in the UK, Europe and North America.
As part of the Group’s commitment to combating modern slavery, it has implemented the following policies:
- Recruitment policy. The Group’s policy includes conducting eligibility to work in the UK checks for all employees to safeguard against human trafficking or individuals being forced to work against their will.
- Whistleblowing policy. This ensures all employees know they can raise concerns about how colleagues are being treated, or practices within the Group’s business or supply chain, without fear of reprisals.
- Ethical principles. These explain the manner in which the Group behaves as an organisation and how it expects its employees and suppliers to act. These principles can be found on the website at www.pressuretechnologies.com/our-responsibility/ethical-principles.
As part of the Group’s efforts to monitor and reduce the risk of slavery and human trafficking occurring within its supply chains, it has the following due diligence procedures.
- The Group builds long standing relationships with both local and international suppliers. The Group makes clear its expectations of business behaviour and requires all suppliers to recognise the standards laid out in its Ethical Principles .
- The Group has systems in place to encourage employees to report concerns.
- It is not practical for the Group to have a direct relationship with all suppliers within the supply chain. The Group will expect every entity to adopt a minimum protocol of ‘one up’ due diligence within the next link of the supply chain.
- The Group periodically visits and audits its principal suppliers.
These procedures are designed to:
- establish and assess areas of potential risk in the Group’s business and supply chains
- monitor potential risk areas in the Group’s business and supply chains
- reduce the risk of slavery and human trafficking occurring in the Group’s business and supply chains
- provide adequate protection for whistleblowers
Risk and Compliance
The Group has begun to evaluate its exposure to the risk of modern slavery occurring in its supply chain.
The Group does not consider that it operates in high risk sectors or locations.
The Group has a zero tolerance approach to slavery and human trafficking in its business and its supply chain and will endeavour to introduce policies and procedures to ensure it both complies with the Act and reduces its exposure to the risk of modern slavery occurring in its supply chain . The Group will not work with any supplier organisation that has been found to have knowingly been involved in slavery or human trafficking.
As part of the Group’s contracting processes it intends to include specific prohibitions against any form of slavery or human trafficking. The Group expects its suppliers to adhere to the same high standards, and take steps to ensure this approach is reflected in their supply chains.
In order to ensure proper understanding of the risks posed by modern slavery in the context of our organisation and supply chain, representatives of Pressure Technologies plc intend to provide training to employees of the Group as appropriate.
Following our review of our actions to prevent slavery or human trafficking from occurring in our business or supply chains, we intend to take the following further steps to tackle slavery and human trafficking.
- Undertake a Group-wide training programme to educate our staff to recognise and report occurrences of modern slavery and human trafficking in our business and supply chains.
- Expand major supplier due diligence to specifically cover slavery and human trafficking and to prevent it occurring in the Group’s business and supply chains.
This statement was approved by the Board of Pressure Technologies Plc on 28 March 2018.