PMC's operations affect, and are affected by, its surrounding world environmentally, socially and economically. The objective is to deliver products and services that facilitate customers offering their end-customers energy and environmentally efficient solutions, with little negative impact.
Simultaneously, PMC endeavors to take a big responsibility for its employees and its supply chain. Eventually, PMC's sustainability work is expected to improve the company's prospects of achieving its financial goals.
Keeping pace with the Group's geographical development and the wishes of OEM customers, the standards applying to the development, evaluation and control of PMC's supplier base are increasing. The company's supplier development is built on the values stated in PMC's Code of Conduct and builds on an honest and open dialogue with suppliers. The objective is to ensure the highest possible standards of business ethics at all levels of the procurement process. PMC's requirements and expectations of suppliers are conveyed in regular evaluations, often in tandem with visits to suppliers' plants.
The Group will reinforce its activities in supplier development through a centralized organization that will be responsible for work on Group-wide suppliers. Continuous follow-ups and the execution of remedial measures are expected to pay off in the short term, because those suppliers that do not satisfy standards and expectations will be exchanged.
PMC puts a high emphasis on environmental considerations when developing new products, systems solutions and manufacturing methods. The single most important environmental issue at the Group's production facilities is energy consumption. More efficient energy consumption is included as a component of the rationalization work of Lean and similar concepts ongoing in the Group. Most Group companies apply ISO 14001 environmental management systems.
Many of PMC's customers are Nordic companies with global operations. To be able to deliver to their international production units, in recent years, PMC has started up production closer to these customers in Poland, India and China. Networks of local suppliers are built up around these production units. One effect is a reduced need for transportation and shorter lead-times for product development.
From a sustainability perspective, a significant part of the impact made by PMC arises from products used by customers or the customer's customer. In recent years, PMC has developed a series of new solutions, which for example, save oil, reduce energy consumption, increase safety or improve the working environment. Another positive environmental effect is that many PMC products are used in environmentally friendly applications like wind power, hydropower and the food industry.
Working environment and health
PMC conducts active and systematic health and safety work. Its objective is to create a physically, psychologically and socially healthy and stimulating workplace for everyone, where injuries at work and work-related ill health are prevented. Individual companies are responsible for the working environment and health, based on the Group-wide Health and Safety Policy.