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Code of Conduct

Strong connections – that is what Valk Welding aspires. This ambition extends beyond our innovative products, systems and services. It also applies to our people, our customers, our suppliers and other partners. We invest in relationships, provide a safe working environment, treat workers with respect, and work in an environmentally sound way. Strong connections also flourish by doing business responsibly, honestly and with integrity. We give trust and space to thrive and become healthy and successful partners.

Our ‘Strong Connection DNA’ drives our norms and values in doing business and this code of conduct articulates them. It is our firm belief and expectation that our employees, suppliers and partners act in accordance with this code.

Applicability

This code of conduct applies to all our employees, as well as other internal and external stakeholders with whom we conduct business. Our new employees are shared and trained the code of conduct during their onboarding. Training is done as part of a “Strong connection lunch” in which employees are informed.

Environment

At Valk Welding, we believe protecting the environment is a shared responsibility—and essential to securing the future of our industry and planet. We are committed to reducing waste, extending the durability of our solutions, and improving efficiency through the use of advanced technologies. By working closely with suppliers and embracing innovation, we aim to lower greenhouse gas emissions across the full product life cycle. Every employee plays a part in meeting our environmental commitments.

Openness

Valk Welding promotes openness and transparency, as well as continuous dialogue with its stakeholders, including customers and other business partners, shareholders, personnel, authorities, local communities and the media.

Valk Welding strives to be honest and accurate when communicating with its stakeholders, and Valk Welding employees shall make their statements in accordance with this principle.

Fair employment practices

Valk Welding promotes an inclusive working environment, without any forms of discrimination based on race, ethnic or national origin, colour, gender, family status, sexual orientation, disability, age or political beliefs, or other characteristics protected by law. Valk Welding fosters equal opportunity and employees are selected and treated on the basis of their abilities and merits.

Valk Welding does not accept any form of discrimination, harassment or bullying from its employees. This is also taken into account when recruiting.

Occupational health and safety

Valk Welding endeavours to create hazard-free workplaces for its employees, contractors, and others working in various locations by applying high standards of occupational health and safety. Valk Welding strives to assure the safety of its products and solutions through its continuous improvement and product development cycles.

Each employee is responsible for complying with the safety instructions, for using personal protection equipment when required, and for reporting on any shortcomings regarding safety instructions or protection measures.

Human rights & Working conditions policy – declaration against child labour and modern slavery

Valk Welding supports and respects the protection of human rights as defined in the United Nation's Universal Declaration on Human Rights. No employee is allowed to take any action that violates these human rights principles, either directly or indirectly.

Valk Welding supports basic labour rights as defined by the International Labour Organization. In this respect, Valk Welding upholds the freedom of association and the effective recognition of the right to collective bargaining. In the case that these rights are restricted by local law, Valk Welding endeavours to offer its employees alternative means to present their views. Valk Welding does not accept any form of forced or compulsory labour, or the use of child labour. We clearly declare that we prohibit and distantiate from any form of child labour. As well, we clearly declare we prohibit and distantiate from any form of slavery or modern slavery.

Working hours

Working hours must comply with national laws and collective agreements. Working hours, excluding agreed overtime, shall be defined by contract, and shall not exceed 40 hours per week.

Compliance with laws and business ethics

All business and other activities of Valk Welding shall be carried out strictly in compliance with all applicable laws, and under the principles of good corporate citizenship in each country where such activities take place.

Each employee is expected to comply with the requirements of those laws and regulations that apply to Valk Welding operations and to his/her job, and with the Valk Welding principles of good corporate citizenship.

Conflicts of interest

Valk Welding expects full loyalty from its employees. Employees must avoid situations where their personal interests may conflict with those of Valk Welding. This means, for instance, that employees are not allowed to accept gifts or entertainment from a stakeholder, except for a gift or entertainment of a minor value given on an occasional basis, providing it does not create a conflict of interest situation.

Anti-corruption

Valk Welding or any of its employees may not, directly or indirectly, promise, offer, pay, solicit, or accept bribes or kickbacks of any kind, including money, benefits, services or anything of value. Such payments and favours may be considered bribery, which violates local legislation and internationally recognized principles for combating corruption and bribery.

Anti-fraud

Valk Welding does not tolerate fraudulent behaviour or activities, such as embezzlement, fraud or theft. Such violations will lead to immediate termination of employment and are subject to criminal sanctions.

Relationship with authorities and local communities

Valk Welding maintains constructive co-operation with authorities and regulatory bodies, at both local and international levels. Valk Welding seeks to play a role in serving the needs of the local communities whenever possible.

Innovation and protection of proprietary information

Valk Welding supports and encourages innovation by its employees in all areas of its activities.

Valk Welding’s intellectual property is one of its most valuable assets and the patents, trademarks, copyrights, trade secrets, and other proprietary information of Valk Welding must be protected. At the same time, each Valk Welding employee must respect the intellectual property rights of others.

Accuracy of financial information

Valk Welding is committed to full legal and ethical compliance in all financial reporting. We ensure that our accounting records accurately reflect our business operations and meet all regulatory standards.

Data protection

Valk Welding stores its data on premises and ensures a good management and protection for all data and software codes.

Competition and fair dealing

Competition laws aim to protect consumers and businesses against unfair business practices. Each employee shall comply with those laws. Actions such as participation in cartels, abuse of a dominant position in the market place, or the exchange of price or other commercial information between competitors, are prohibited. Valk Welding employees should be sensitive to competition concerns when attending occasions where competitors, or potential competitors, can be present.

Export controls

Valk Welding offers services all over the world. It is our responsibility to observe all national and international laws that apply to our global business operations.

Reporting violations

Any Valk Welding employee becoming aware of a potential violation of this code must contact his or her superior, trust person or board member at Valk Welding. Valk Welding will investigate all reported matters with discretion and due care. Valk Welding shall not take any adverse actions, as a result of such reporting, against any employee reporting in good faith what he or she believes to be a violation of this code.

Resolution of conflicts

It is part of our culture to take an extra step and look for solutions when a conflict arises. Strong Connections help to understand each other and resolve issues adequately together. This way of doing business has always been successful and is what we always will aspire. In this way, violations of this code by any other party are usually prevented or otherwise resolved amicably.

Implementation

Valk Welding takes an active approach to the application of this code and promotes its implementation through the effective communication of its contents to its employees. Living this code is for an important part also in the DNA and culture of the company and its people.

Suppliers and business partners are an important and integral part of the total value chain of the products and services of Valk Welding. They are expected to conduct their businesses in compliance with the same ethical standards and business practices as Valk Welding – resulting in Strong Connections.

In the case that questions arise regarding the interpretation of, or compliance with, this code, don’t hesitate to contact a member of the Valk Welding Board of Directors.

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