Tenova has become a member of the Metals Technology Industry Anti-Corruption Collective Action Initiative.
The Metals Technology Industry (MTI) Anti-Corruption Collective Action Initiative has recently expanded its membership. Tenova S.p.A. has joined the three founding members of the Initiative: Danieli & C Meccaniche S.p.A., Primetals Technologies Limited and SMS GmbH - in their anti-corruption Collective Action efforts. Tenova S.p.A. is a leading mechanical engineering company for the steel and non-ferrous metals processing industry headquartered in Castellanza, Italy.
The MTI Collective Action Initiative provides a forum for the members to develop anti-corruption compliance best practices to ensure fair competition in the metals technology industry in the countries in which they operate. The Collective Action Initiative is facilitated by the International Centre for Collective Action ICCA, a Swiss-based non-profit anti-corruption competency centre within the Basel Institute on Governance.
Senior management representatives of the three founding members have been meeting regularly under supervision of the ICCA since 2013 to address anti-corruption compliance in their business sector. The Member companies signed a Memorandum of Understanding (MoU) setting out their anti-corruption commitments and proposed actions to promote their anti-corruption principles.
The founding members went public with their Initiative in September 2016.
Following media reports of the MTI Collective Action, Tenova contacted the ICCA to learn more about the Initiative and to request whether it could become a member. “All companies in the metals industry face similar corruption risks around the world. We immediately saw the benefits of joining forces with other industry leaders in harmonising our anti-corruption management approach,” said Andrea Lovato, CEO of Tenova S.p.A. Tenova S.p.A. presented its company to the MTI members, who ratified its addition to the Initiative in July 2017.
“We are pleased to see this development within the MTI Initiative,” said Gemma Aiolfi, Head of Compliance, Corporate Governance, and Collective Action at the ICCA. “New companies bring new perspectives, encouraging all Initiative members to continuously improve their anti-corruption compliance systems.”