Compliance with the law and integrity
TTS expects all its employees to know and comply with the laws and other regulations relevant to their working environment. This also includes the current version of the guidelines drawn up internally by TTS.
Fair competition
All employees are obliged to achieve the company's objectives by fair means at all times. They will therefore not enter into any agreements with competitors, customers and/or suppliers that are likely to prevent or restrict competition. Competitive freedom of action must be maintained at all times.
Combating corruption and bribery
Ethical standards are known to employees and are also observed by them in their day-to-day business. In particular, it is prohibited to unlawfully influence third parties in business transactions. Advantages may neither be demanded nor accepted. To ensure this, TTS has drawn up its own guidelines and regularly trains its employees.
Our responsibility for society
The TTS Group is a global company that employs people from different cultures and recognises its social responsibility. The TTS brands operate worldwide and we are aware that we have a social responsibility that we take very seriously. That is why TTS has created a compliance structure that ensures that we adhere to the legal regulations of the respective countries as well as the internal rules and ethical principles of our company. As part of the TTS Group, Festool acts in accordance with the Group's compliance requirements.
Principles of our actions
The brands of the TTS Group are characterised by high quality, innovation and customer proximity. However, behind these achievements there are also values that characterise the actions and decisions of the TTS Group. These values are:
- Premium: We do really good work for our customers
- Innovation: We focus on diversity and dare to try new things together
- Sustainability: we take responsibility for people and the future
These values apply both to internal dealings between managers and employees and to external contact with customers, business partners and authorities. We have created our Code of Conduct for this purpose. We expressly oppose all forms of forced and child labour and expect the same from our customers and business partners. The values and principles we have developed are binding for all employees and form the cornerstone of our daily business dealings and should also serve as guidelines for our business partners. We strive for long-term growth that is orientated towards our corporate values. We act sustainably. Sustainable action requires legally compliant behaviour, which is reflected in our compliance structure.
Compliance structure
Breaches of the rules can have serious consequences for a company and its employees. To avoid these, TTS has introduced a compliance management system that includes measures for prevention, detection and response. Clear guidelines, regular training, confidential compliance counselling and informing managers and employees about relevant compliance issues are key preventative measures. In addition, a reporting system has been set up. Compliance violations can be reported or enquiries made here. All reports are treated confidentially.
Addressing grievances
We are convinced that an open discussion of concerns helps to ensure that misconduct occurs less frequently or is recognised and corrected at an early stage. This is why we value an open climate in which employees can approach their line manager, management or a trusted body with critical issues without hesitation. We investigate all concerns raised fairly and without prejudice and protect whistleblowers, even if the report is not confirmed.
Business partners and other stakeholders can also be whistleblowers and help to uncover irregularities. The reporting channels mentioned are therefore also open to external whistleblowers.
Reporting channels
- E-mail:compliance@tts-company.com
- Telephone: +49 7024-804-20888 (Voicemail)
- Letter: TTS Tooltechnic Systems AG & Co. KG
For the attention of the Compliance Officer (HV-Z)
Confidential
Wertstrasse 20
73240 Wendlingen Germany - Attendance appointment after appointment has been made
Reporting channels for special topics:
Data protection/data breaches: datenschutz@tts-company.com
IT security incidents: it-security@tts-company.com
What happens when a report or complaint is received?
- You submit your report by e-mail, telephone, letter or in person.
- You will receive a confirmation of receipt.
The report will be checked and, if necessary, follow-up questions will be sent to you.
The more information you can provide, the better and faster the matter can be investigated and assessed.
- If sufficient information is available, an investigation will be initiated.
- If the investigation confirms the tip or complaint, measures will be taken according to the results.
- Once the investigation has been completed, you will receive feedback on the results and the measures taken.
Complaints management LkSG
In order to fulfil our obligation to protect human rights and the environment, we have set up a complaints procedure that enables all affected parties to report possible risks or violations in this area. The complaints procedure is primarily aimed at those who suffer from the consequences of human rights or environmental damage associated with our activities. Persons who become aware of such a violation also have the opportunity to inform us of the incident. Complaints in this sense can be directed to the channels already mentioned above.
Transparency report of the TTS Group
Further information on our compliance can be found in the TTS Group's sustainability report.