Ethics and compliance

The Group is committed to conducting its business with integrity and in compliance with the laws and regulations in the jurisdictions in which it operates.

The Group is committed to conducting its business with integrity. High standards of professional and ethical conduct are expected throughout its operations acting in compliance with the laws and regulations in jurisdictions in which the Group operates.

Employees and persons acting on behalf of the Group are expected to implement the Group’s policies and procedures such that the legitimate interests of the Group are advanced, having regard to the Group’s values and standards. All employees are expected to engage in ethical conduct.

As part of the work of the Audit and Risk Committee, Group policies are regularly reviewed to ensure these remain appropriate and effective.  These policies include anti-bribery, supplier code of conduct and the prevention of the facilitation of tax evasion.

Code of conduct

These policies are clearly communicated to all staff and training programmes in these areas, in some cases provided by external providers, continued during the year with key members of staff from each Division completing relevant modules.

Product integrity

The Group seeks to be honest and fair in its relationships with customers and suppliers and to source and supply goods and services in an efficient manner, in accordance with specifications, without compromising quality and performance. Each Division is responsible for negotiating the terms and conditions of trade with suppliers. In doing so each Division is expected to maintain high standards of integrity in all business dealings with suppliers and is encouraged to use the services of those suppliers whose values and standards are equivalent to Tyman’s quality management standards. Operating units are encouraged to gain and maintain accreditation to specific standards required by the markets they serve, with quality and production accreditations gained throughout the operations.

Tyman's divisions

Modern slavery

The Group is committed to respecting human rights across all its operations and aims to work at the highest international standards in addition to local requirements. The Group fully supports the Modern Slavery Act 2015 and seeks to ensure that the Group's activities and and those in its supply chains do not infringe on, or encourage, any human rights abuses. 

The Group manufactures products, primarily in North America and Western Europe, distributing and selling products to markets globally. A proportion of the Group's products are sourced from third party suppliers, primarily in China, nd to a lesser extent in India and Taiwan. Over 50 formal audits of these suppliers, including those sourced from the recent acquisition of Zoo in the UK, were completed in 2019.  No significant issues of concern were identified in relation to employment conditions or modern slavery.

During the year, training for all relevant staff (such as those involved in supply chain management, recuitment and procurement) and a programme of supplier audits, including site visits, were completed.

Sourcing teams across the Group are responsible for the ethical sourcing of all products used in the production of finished goods and the verification of controls in place across the supply chain.  Where possible, we seek to re-engineer products, reworking them to reduce the materials used, or to take advantage of improved production methods, using more environmentally sound materials.

Modern Slavery Statement

Whistleblowing

The Group operates a confidential whistleblowing telephone helpline, which is available for all employees and any external person associated with providing goods or services to any of the Divisions.  Calls are received by the Group Company Secretary and each call is fully investigated, by an appropriate person, independent of the claim being made. These claims are reported to the Board, which is kept apprised of all actions being taken and the final outcomes. Management is always grateful to receive these reports, which provide an additional insight into the operations at these locations and investigates them fully. Each claim is fully resolved, with the necessary actions taken.

Stakeholders

Engagement with all stakeholders is important and ensures there is a sound basis upon which the business is conducted. Each Division has a relationship management programme with its customers and suppliers which provides the appropriate forum for open and transparent discussions.