Ethics and Compliance

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Code of Ethics

woman with a safety helmet

The Vallourec Code of Ethics defines Vallourec’s values (integrity and transparency, high standards and professionalism, performance and responsiveness, respect for people and collective commitment) and principles for action (fighting corruption, protecting Vallourec’s assets, establishing a relationship of trust with customers and suppliers, respecting employees, and living in the community) with regard to its employees, customers, suppliers, and stakeholders.

 

In 2016, an amended version of the Code of Ethics was adopted and deployed within the group in order to strengthen Vallourec’s commitments with regard to the fight against corruption and compliance with competition laws while maintaining Vallourec’s values and principles for action.

Ethic

Much like the principles for action and the code of conduct that stem from them, these values demonstrate our commitment to conduct our business activities in an ethical manner and in accordance with the applicable laws and regulations."

Edouard Guinotte Président du Conseil d’Administration & Directeur-Général

“Vallourec is a leader in premium tubular solutions primarily for the energy markets as well as for other industrial applications.  

We are proud of this position: it demonstrates our partners’ confidence in our ability to provide premium products and services in accordance with our values of integrity, transparency, high standards and professionalism, respect for people, collective commitment, and performance and responsiveness. 

Much like the principles for action and the code of conduct that stem from them, these values demonstrate our commitment to conduct our business activities in an ethical manner and in accordance with the applicable laws and regulations. 

Since the adoption of our Code of Ethics in 2009, we have made every effort to strengthen our internal Code of Conduct—specifically with regard to the fight against corruption and respect for free competition—with the consistent aim of achieving operational excellence at all levels. As a result, every employee is required to strictly observe these rules, since Vallourec does not tolerate any violation of them.” 

Vallourec values

Vallourec is based on strong values.

The Vallourec Code of Ethics is not a regulatory document for these values, but rather it defines the principles that guide Vallourec’s business activities in accordance with these values.

 

happy worker at his workplace

Integrity and transparency

Integrity has to be the foundation of all of Vallourec’s decisions and practices. In internal relationships, transparency—the source of trust among all Vallourec employees—requires a clear, objective, rapid flow of information. 

High standards and professionalism

High standards and professionalism are the basis of Vallourec’s success on a globalized market that requires a higher level of performance with each passing day. Its ambition to achieve sustainable growth is founded on these values. 

Performance and responsiveness

Customer satisfaction for both internal and external customers is the key to Vallourec’s long-term success. It is based on the constant innovation, quality, and performance of Vallourec products and services. It requires responsiveness to the evolution of the markets. Vallourec’s ability to adapt is one of its strengths. Its competitiveness and the longevity of its relationships with its customers are founded on this ability.

Respect for people

Respect for people, their dignity, their diversity, and the variety of their cultures is at the heart of the commitment made by Vallourec teams. It makes everyone’s life richer and contributes to everyone’s performance. Respect starts with safety, which is Vallourec’s top priority.

Collective commitment

All Vallourec employees collectively contribute to its development. This shared objective is based on solidarity, loyalty, an ability to listen attentively, a sense of responsibility, and teamwork.

Anti-Corruption Code of Conduct

woman at her workplace illustrating ethical code of conduct

The Vallourec Anti-Corruption Code of Conduct reinforces Vallourec’s commitment to its fight against corruption. Addressed to Vallourec employees as well as all of its partners, it specifies and describes behaviors that can be characteristic of acts of corruption or influence peddling using practical, concrete, and clear examples. It also indicates the proper way to behave if confronted with actions or situations that could mark acts of corruption or influence peddling.

ETHIC Certification Intelligence

In 2018, Vallourec’s anti-corruption program was certified by ETHIC Intelligence, an internationally renowned, independent certification agency. This certification indicates that the program is capable of preventing, detecting, and reducing the risk of corruption

Vallourec: United Nations Global Compact partner

Vallourec has been a United Nations Global Compact partner since 2010. It has committed to promote and uphold the 10 fundamental principles of the United Nations Global Compact, which concern human rights, working conditions, the environment, and the fight against corruption. 

The authorities at Global Compact France have considered Vallourec to be at the “Advanced” level since 2016. This means that, worldwide, Vallourec belongs to the 10% of companies that are the most advanced with regard to compliance with Global Compact principles, including the principle on corruption prevention

Vallourec Integrity Line

In 2018, the group set up Vallourec Integrity Line, an alert system—accessible online 24/7 and available in eight languages—that enables actions or behaviors that conflict with the values and principles set forth in the Vallourec Code of Ethics to be reported from anywhere in the world. Vallourec Integrity Line can be accessed by not only Vallourec employees and intermittent and external partners but also customers, suppliers, service providers, and other external stakeholders.