Relationships and Community

Relationships with customers

The Group’s products are generally bespoke for specific customers and generally have a very long product lifecycle. This naturally requires the Group to build close relationships with its customers. A high percentage of the Group’s annual revenue comes from repeat business from existing customers. Most new product introductions are developed with existing customers and when new customers are gained it is often after a long development period over which a close relationship has developed and a long term relationship is expected.

Particularly in aerospace and energy, the Group builds relationships with the immediate customer for the product and also with the ultimate end user or manufacturer, who is often the party that certifies the product. For example the airframe manufacturer will be an important stakeholder but the customer will usually be a sub assembly manufacturer.

Relationships with suppliers

The Group has an extensive network of suppliers and sub contractors, many of whom are critical to the manufacture of specific parts. The Group has a stable supplier base. It seeks to increase its supplier base by extending the number of suppliers only where there are perceived to be risks of under capacity or resilience in its existing supply chain. Suppliers are generally only removed from the approved list for persistent quality or delivery failures.

Wherever possible, the Group seeks local suppliers to fulfil its requirements. The Group carefully selects its suppliers. As part of building a long term relationship with its critical suppliers, the Group works closely with them to ensure that the quality and delivery standards required by the Group are achieved.

Anti-bribery and corruption policy

The Group seeks to prohibit all forms of bribery and corruption within its business and complies with the requirements of all applicable laws designed to combat bribery and corruption. The Group requires all employees, agents, intermediaries and consultants to conduct themselves in accordance with the Group’s anti-bribery and corruption policy. The Group conducts an annual compliance review and periodically provides training for its staff who have contact with customers and suppliers.

Porvair and the local community

The management of each operation is aware of its role within its local communities. They seek to recruit locally and retain a skilled local workforce and are encouraged to build relationships with local community organisations.

Metals Filtration supports the United Way of Henderson County (UWHC); employees make payroll deductions to donate to the charity and the Group contributes as well. In addition, a number of employees participate in the UWHC Day of Caring, working on projects to repair homes and provide facilities for the disadvantaged in the community.

Metals Filtration has several employees who are active in a mentoring programme, Big Brothers, Big Sisters, in Henderson County, which provides support for the children of single parent families.

The Group is a significant employer in the Caribou area and one of the few businesses in the area to be expanding its workforce. It maintains close relations with the local mayor’s office and has joined programmes to promote local businesses and services in the area.

The Group provided a water filtration system for the Olpalagilagi School in the Maasai Mara in Kenya. The filtration system, which enables the school to filter its tank of spring water, was installed by the pupils of Gresham’s school as part of a school trip.

Human rights

The Group is aware of its requirements to respect human rights in all jurisdictions in which it operates. It pays particular attention to its responsibilities in its operations in China and India. The Group has nothing further to disclose.

Regulatory News

Additional Listing

22 Jun 2017

Trading Update

05 Jun 2017

AGM resolutions

11 Apr 2017

Financial Calendar

Half year 2017 results announcement

27 Jun 2017

Ex-dividend date

27 Jul 2017

Record date for dividend

28 Jul 2017