Permico’s Business Principles
Permico’s Business Principles provide the guidelines within which Permico conducts business, manages employees, and interacts with the community and stakeholders.
Values
The team at Permico shares a set of core values including honesty, integrity, and respect for individuals and our surroundings. We believe in and practice teamwork and professionalism in an open environment that balances the need for good business practices while considering all stakeholders and the environment.
Responsibilities
Permico’s principles recognize five areas of responsibility. Management’s continuous role is to account for each of these areas as new strategies are implemented and ongoing business is conducted.
Shareholders
To protect the investment of shareholders and provide competitive risk adjusted returns compared to other companies in our industry.
Customers
To attract and maintain customers by providing products and services that meet their needs and offer value in terms of price, service, quality, safety, and environmental impact.
Employees
The success of our company is not possible without the commitment of our employees. We pledge to provide all team members with good and safe working conditions as well as competitive compensation and benefits within an environment that facilitates individual growth and development of talent and abilities while providing equal opportunities for advancement.
Business Partners
We believe that our external associates are critical to Permico’s success and we endeavor to establish and maintain mutually beneficial relationships with contractors and suppliers. In our joint ventures we work to promote the adoption and application of our principles, understanding that the alignment of principles is an important factor when deciding to enter into or remain in such relationships.
Community
We conduct our business as a responsible corporate member of society, complying with all regulatory bodies and applicable laws and we give proper regard to the health, safety and security of the environment.
Principles
Economic
Our value proposition is based on long term growth and profitability. We believe that value is achieved by providing superior service and innovative approaches to meet customer needs; operating in a reliable, safe and efficient manner; and making future investments that provide attractive, risk adjusted returns to our investors.
Business Integrity
Permico believes all aspects of our business should be approached with integrity, honesty, and a sense of fair play and we expect all of our team members to conduct themselves accordingly. We believe our approach is also treasured by our business counterparties. All our team members are expected to avoid conflicts of interest.
Health and Safety
A guiding aspect of our principles is the health and safety of all stakeholders. Permico strives to continually improve our health and safety practices. In order to emphasize the importance of this principle, health and safety is an important metric of the success of each of our business units.
Environment
Permico strives to minimize and/or prevent any negative environmental impact which could be caused by our activities by conducting thorough, well thought analyses of our operational practices and by providing continuous training of our employees.
Local Communities
Our desire to be a good corporate citizen extends to local communities through direct investment and cooperation with local agencies that contribute to the general well-being of people living in the areas where we have a presence. Permico will strive to prevent or minimize any potential negative effects of our operations on the surrounding populace and environment.
Compliance
Permico will comply with all local, state and federal laws and regulations that apply to our operations
Principles
Economic
Our value proposition is based on long term growth and profitability. We believe that value is achieved by providing superior service and innovative approaches to meet customer needs; operating in a reliable, safe and efficient manner; and making future investments that provide attractive, risk adjusted returns to our investors.
Business Integrity
Permico believes all aspects of our business should be approached with integrity, honesty, and a sense of fair play and we expect all of our team members to conduct themselves accordingly. We believe our approach is also treasured by our business counterparties. All our team members are expected to avoid conflicts of interest.
Health and Safety
A guiding aspect of our principles is the health and safety of all stakeholders. Permico strives to continually improve our health and safety practices. In order to emphasize the importance of this principle, health and safety is an important metric of the success of each of our business units.
Environment
Permico strives to minimize and/or prevent any negative environmental impact which could be caused by our activities by conducting thorough, well thought analyses of our operational practices and by providing continuous training of our employees.
Local Communities
Our desire to be a good corporate citizen extends to local communities through direct investment and cooperation with local agencies that contribute to the general well-being of people living in the areas where we have a presence. Permico will strive to prevent or minimize any potential negative effects of our operations on the surrounding populace and environment.
Compliance
Permico will comply with all local, state and federal laws and regulations that apply to our operations
Ethics
Anti-Money Laundering / Combatting Terrorist Financing
Money laundering, by definition, is the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. It is Permico’s responsibility to ensure that our funding and business dealings avoid any direct or indirect involvement with any criminally associated funding or criminal activities, including terrorism. As such, Permico expects employees and all related parties to remain vigilant in avoiding engagement in any suspected or confirmed criminal activity or knowingly dealing with criminals or the proceeds of crime. Further, it must be assured that any and all business transactions conducted on behalf of Permico do not involve acquiring, using or holding criminally obtained monetary proceeds or property acquired with the proceeds of crime. With regard to criminal property; facilitation of acquisition, ownership or control or the concealment of the origin or nature of criminal property will not be tolerated. Anyone connected with Permico having any knowledge or suspicion that money laundering is connected to any Permico transaction must promptly report such activity to Permico’s Compliance Team. In order to remain fully compliant with legal requirements, the counterparty suspected of illicit activity should not be alerted to your suspicions or interactions with the Compliance Team. Additionally, no one should falsify, conceal, destroy or dispose of relevant documents.
Anti-Bribery and Corruption
Permico seeks to mitigate risk, build trust, and safeguard our integrity in our business dealings and to maintain and enhance relationships through ethical behavior. As such no employee should ever accept or pay bribes or engage in any known act of corruption. Everyone engaged with Permico must comply with the United States anti-bribery and corruption laws. Further, all Permico employees (and anyone that represents Permico or Permico’s employees) must not offer, facilitate, pay, make, seek or accept personal payments or gifts in return for a business advantage. Any breech of this policy, or a request to do so, must be immediately reported to Permico’s Compliance Team. If a payment is made under duress, it is not necessarily considered a personal facilitation but must, none the less, be reported immediately. Permico believes that our customers, partners, suppliers and sub-contractors must appropriately represent Permico’s ethics and values. An appropriate level of due diligence must be performed prior to engaging in relationships. All suspected bribery and corruption must be explicitly reported to the Permico Compliance Team.
Ethics
Anti-Money Laundering / Combatting Terrorist Financing
Money laundering, by definition, is the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. It is Permico’s responsibility to ensure that our funding and business dealings avoid any direct or indirect involvement with any criminally associated funding or criminal activities, including terrorism. As such, Permico expects employees and all related parties to remain vigilant in avoiding engagement in any suspected or confirmed criminal activity or knowingly dealing with criminals or the proceeds of crime. Further, it must be assured that any and all business transactions conducted on behalf of Permico do not involve acquiring, using or holding criminally obtained monetary proceeds or property acquired with the proceeds of crime. With regard to criminal property; facilitation of acquisition, ownership or control or the concealment of the origin or nature of criminal property will not be tolerated. Anyone connected with Permico having any knowledge or suspicion that money laundering is connected to any Permico transaction must promptly report such activity to Permico’s Compliance Team. In order to remain fully compliant with legal requirements, the counterparty suspected of illicit activity should not be alerted to your suspicions or interactions with the Compliance Team. Additionally, no one should falsify, conceal, destroy or dispose of relevant documents.
Anti-Bribery and Corruption
Permico seeks to mitigate risk, build trust, and safeguard our integrity in our business dealings and to maintain and enhance relationships through ethical behavior. As such no employee should ever accept or pay bribes or engage in any known act of corruption. Everyone engaged with Permico must comply with the United States anti-bribery and corruption laws. Further, all Permico employees (and anyone that represents Permico or Permico’s employees) must not offer, facilitate, pay, make, seek or accept personal payments or gifts in return for a business advantage. Any breech of this policy, or a request to do so, must be immediately reported to Permico’s Compliance Team. If a payment is made under duress, it is not necessarily considered a personal facilitation but must, none the less, be reported immediately. Permico believes that our customers, partners, suppliers and sub-contractors must appropriately represent Permico’s ethics and values. An appropriate level of due diligence must be performed prior to engaging in relationships. All suspected bribery and corruption must be explicitly reported to the Permico Compliance Team.