Modern Slavery Policy Statement 2018
This statement is published in accordance with the Modern Slavery Act 2015.
Trifast plc continue to operate a zero-tolerance approach to slavery and human trafficking. We remain committed to eradicating any and all forms of slavery or human trafficking in line with the Modern Slavery Act 2015. We expect the same from our suppliers and will work with them to help raise awareness and prevent slavery and human trafficking. We enjoy long term and productive relationships with many of our suppliers which carry high levels of trust and confidence in all our efforts to work against modern slavery and human trafficking.
We are a global engineering, manufacturer and distributor of industrial fastenings and Cat C products. We have 31TR locations, of which 8 are high volume production manufacturing sites producing over 33% of the product sold and distributed to over 60 countries. We supply in excess of 60 billion components annually to over 5,000 companies globally across a wide range of industries, including automotive, electronics, domestic appliances and telecoms.
All Group employees commit to the values of our organisation. These values include:
These values are instilled throughout our policies and practices, as well as being demonstrated through our employees’ actions - including our supply chain activities. We procure a range of materials and products from different parts of the world. As an example of our supply chain activities, for our automotive components, prior to engaging with a new supplier we complete supplier and sub-contractor audits. These audits are reviewed and re-assessed regularly to ensure compliance with our standards.
Review / Updates from 2017
Our planned actions included:
- Continued training on the Modern Slavery Act for our employees engaged in work with our supply chain. This training requirement is ongoing.
- Awareness training for all employees on modern slavery and how to act in the event of suspecting modern slavery practices. This is planned to be included in our new global induction programme in the coming year.
- Supplier declarations – covering 80% of our suppliers by value. Status – complete.
- Annual internal audits have been updated to include checks on modern slavery and declarations are made by each of our Entity Directors that they are compliant with the Act. This is an annual declaration and will continue to be requested and monitored.
- An independent whistleblowing hotline was launched in all locations which allows our employees to report any concerns in their native language. Status – complete.
Throughout 2017/18 we have embedded our approach to modern slavery and human trafficking into our Group companies and have worked with our suppliers to ensure a united approach. We will continue to review our methods to enforce our zero-tolerance approach to modern slavery and human trafficking.
Over the remainder of 2018 and into next year, we will be working across the Group to continue to maintain and strengthen our approach to modern slavery and human trafficking. Our goal remains for all of our employees to understand and, where possible, prevent modern slavery and human trafficking. Proposed actions include:
- The continued monitoring of our own practices and those of our supply chain to further embed and reinforce awareness of modern slavery.
- The maintenance of our schedule of audits and ensuring they are undertaken against the latest standards.
- The publication of our Trifast Code of Conduct which will be accessible to all and reinforce the principles for all to follow.
- The translation of our training documents into local languages to ensure greater reach and understanding.
- Modern Slavery and human trafficking risks now form part of our Group Risk Analysis.
- Extending the supplier and sub-contractor audits to suppliers outside of our automotive component suppliers.
This statement has been approved by the Main Board of Trifast plc who will review and update it annually.
This statement is made pursuant of section 54(1) of the Act and constitutes our modern slavery and human trafficking statement for the financial year ending 31 March 2018.
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