Corporate Governance

forlabels sa was founded in 1986 and from the first steps, strived for the strong differentiation through a philosophy that focuses on the customer, business ethics and people trust and their capabilities.

Being aware of its role and responsibilities in the industry and in society, the company has set Corporate Social Responsibility as an integral and key element of its strategic planning and implements policies and procedures for the production of quality and safe products and sustainable development.

Within the framework of Corporate Social Responsibility, forlabels sa is committed to:

• Continuous improvement of the Corporate and Social Responsibility (CSR) strategy.
• Encourage its partners to apply the CSR principles of Corporate and Social Responsibility (CSR).
• Full compliance with the National and International legislation in the sectors in which the Company operates and compliance with other requirements that the Company has accepted.

The forlabels  Corporate and Social Responsibility (CSR) Guidelines, as specified in the company’s Code of Conduct, are the following:

• Business ethics. The company condemns and avoids practices and means that distort fair competition and impede economic and social development. Employees and managers respect the Principles and Rules of Commerce and Competition Law and should not apply practices that violate competition law.
• Integrity. The company applies ethical business practices and implements its activities with transparency and reliability:
  • It is strictly forbidden to accept gifts, donations that may question our integrity or seem to influence our professional decisions.
  • Making sponsorships for public benefit and charitable purposes in order to support social actions.
  • No form of bribery is allowed between employees, business partners or any other professional practice, which could create the impression of inappropriate influence.
  • Zero tolerance for any activity may be related to money laundering or illegal financing.
  • Maintaining a culture of ethical conduct against fraud and corruption during its internal operation and in the context of cooperation with suppliers, in relations with Public Officials.
• Commitment. The company takes responsibility for achieving excellent results, while building long-term relationships with customers, suppliers and partners.
• Technological avant-garde and innovation. The company focuses on technological specialization and invests in Research and Development, cutting-edge technologies, modern equipment and know-how, in order to promote innovative products and services.
• Human Respect. The company is opposed to any form of discrimination in the workplace (e.g. due to race, political beliefs, religion, origin, age, gender, sexual orientation, family obligations, marital status, participation in trade union, political opinion, age or any other situation could create issues of discrimination) in any employment subject (e.g. recruitment, remuneration, access to training, promotion, work termination or retirement).
• Protection of the natural environment. The environmental protection and the full compliance with the existing National and European environmental legislation are core values of forlabels. The Management of the company promotes the environmental awareness and responsibility and takes care of the environmental education and awareness of its employees.

The company actively participates in recycling programs, disposes waste from its processes only to properly licensed management bodies. In addition, it ensures the rational use of natural resources and the minimization of environmental impacts throughout its range of activities.

• Human rights: forlabels  respects and supports internationally recognized human rights. The company, within its sphere of influence, supports and respects the protection of human rights and ensures that any kind of violation or encroachment of them is avoided.
  • Child labor and forced labor.  forlabels is committed not to use child labor below the legal age limit or to support it in any way. At the same time, it opposes forced labor practices and other forms of exploitation.
  • Protection of employees’ privacy. The company complies with the applicable laws regarding working hours, industry data on working hours and holidays while supporting the balance between work and personal life, ensuring the correct distribution of working time and not exceeding the stipulated working hours so that our employees have the required free time for their personal life.
  • Pregnancy and maternity protection. forlabels supports the institution of the family and emphasizes the protection of pregnancy and motherhood. The company complies with current legislation on the protection of pregnant women, as well as motherhood.
  • Non – discrimination / Equal opportunities. forlabels recruits, evaluates and administers in such a way as to avoid discrimination related to race, gender, religion, disability, sexual orientation, nationality, political beliefs, trade union, social or national origin. In addition, diversity at every level in the workplace is encouraged.
• Employee support. The company is close to its employees and in case they face any difficulty, it tries to help from its side in the best possible way.
• Health and safety at work. The company ensures that all employees and business associates employed in its facilities, work in a safe and healthy working environment, in accordance with internationally recognized standards. The company monitors and controls the relevant risks that exist in the work environment and takes all necessary preventive measures against accidents and occupational diseases.
• Working conditions. The working conditions provided of the staff are in full compliance with the requirements of the relevant national legislation, the Conventions of the International Labor Organization.
• Employee’ payments. The company ensures that every employee is paid according to the laws and requirements of the market and the wage is sufficient to meet his basic needs.
• Employee training. The basic principle of the company is that all employees before receiving a job in any position are trained and have sufficient knowledge to perform the task assigned to them. In addition, the company provides the necessary resources for continuous information, training and awareness of staff.
• Respect and Relationships between employees. Employees should treat each other with respect, avoiding behaviors that could harm each other’s dignity. Managers should create and promote a welcoming and supportive work environment where integrity, respect, cooperation, diversity and acceptance are effectively applied.
• Shareholders and investors. The company ensures the reliable and equal information of the Shareholders and Investors about its activity, its operations, its development and its goals.
• Subcontractors / suppliers. The company works with subcontractors and suppliers who share its views on policy, principles and objectives and ensures that all its partners comply with the requirements arising from the systems it implements, through the evaluation process.

The company has implemented a process of selection and evaluation of its suppliers, giving weight to criteria related to quality, safety, environment and corporate social responsibility.

• Customer relations – collaborations. The company acts with integrity and genuine interest in its customers, keeping its promises and commitments, while its relations with its professional partners are characterized by justice. Creating effective partnerships that bring about sustainable and profitable growth, both for the business and for its customers, is of paramount importance for the company.
• Product quality. Ensuring and maintaining a high degree of quality of the provided products, remains inextricably linked to the operation and responsible entrepreneurship of the company. It is a basic commitment of the Management and consequently of all employees, the satisfaction of the customers’ needs, providing them with quality and safe products and services.
• Data Protection – Confidentiality. The protection of personal data is a priority for the company in accordance with the General Regulation for the Protection of Personal Data (2016/679 EU). In all business processes, forlabels guarantees the protection of privacy, in compliance with applicable law.

The Corporate Social Responsibility Policy is applied in all levels and functions of the company and is reviewed whenever deemed necessary.

Schimatari Viotias 01.06.2020                            For the company forlabels sa

The main concern and general objective of our policy is the continuous improvement   of our business performance and the creation of an added value for our customers, making use of the rapid technological developments in the dynamic field of labels and flexible packaging materials.

In particular, the individual objectives of our company with regard to Food Quality and Safety are:

• The continuous improvement of our business performance
• Ensuring the safety of the manufactured products
• The continuous development of our human resources
• The optimization of our customers’ satisfaction

In order to achieve the aforementioned, forlabels has established, implements and constantly improves a Unified System of Food Quality and Safety Administration, which complies with the International Standards ISO 9001:2015 and ISO 22000:2005. The Company’s Board estimates that the System of Food Quality and Safety Administration is an essential means of strengthening its Business position owing to:

• The continuous improvement of the quality of our products and services
• Cost reduction
• Efficient in the organization
• The promotion of innovation
• The better working environment

The framework and mechanism for defining and reviewing our Quality goals and objectives is set in the regular reviews of the System from the Company’s Board.

The continuous improvement of our quality performance and the prevention of non-compliances presuppose the realization and the systematic control of both every individual process and as a whole.

The way we use to monitor the processes demands:

• An explicit designation of responsibilities for both every process and every job position.
• Written documentation (Procedures, Work Instructions, Control Instructions etc), where it is needed.
• Continuous monitoring of the recognized processes.
• Data records which prove the Quality of the services offered.
• The development of programs aiming at achieving the Food Quality and Safety objectives.
• A procedure through which the company is to be learning through the mistakes made, so that they are not to be repeated (Corrective Actions) and to continuously improve its operations, in addition to shaping a framework towards error prevention.
• Systematic investments on modern building infrastructure, machinery and operating systems.
• Specified raw materials and manufactured products standards.
• Ensuring that its suppliers comply with certain food quality and safety specifications.
• Identifying, evaluating and addressing the risks associated with the quality and safety of the manufactured products.

The Company Board has identified the threats and opportunities associated with its proper and effective operation and are committed to:

• Compliance with the regulatory requirements regarding its products.
• Understanding of their customers’ needs and expectations and each and every involved part in general.
• Continuous improvement of the efficiency of the Food Quality and Safety System.
• Immediate response to its customers’ demands and compliance with the commitments and obligations of the company, as these are defined through the relevant contracts.
• Communication of the objectives and goals with the employees and encouragement of the staff for participation and contribution towards continuous improvement.

The Unified Administration System is reviewed at regular intervals regarding both its suitability and effectiveness and is to be amended whenever needed and the personnel is simultaneously to be notified.

forlabels is active in the design, production and sales of labels and flexible packaging materials.

forlabels recognizes the importance of environmental protection as an integral part of the good and socially responsible behavior of a company and is committed to the implementation of Environmental Management System, as part of the Integrated Management System and in accordance with the principles of ISO 14001: 2015 throughout its operation, aiming to minimize the impact of its activities on the environment.

Top Management of the company has identified the threats and opportunities related to its proper, efficient and environmentally friendly operation and is committed to:

• protecting the environment and preventing pollution
• producing and marketing of environmentally friendly products which have been manufactured and operated in accordance with the principles of ecological design
• full compliance with the provisions of the current Greek and European legislation
• being continuously informed on developments and amendments to environmental legislation
• recognize the environmental aspects resulting from the exercise of its activities, identifying those that may have significant environmental impacts and taking all necessary measures to prevent and deter the environmental impacts that may be caused by its environmental aspects
• implementing of a management system for the waste generated from its operation in cooperation with licensed bodies.
• setting environmental targets and implementing programs to achieve them.
• implementing an effective Environmental Management System
• the rational use of natural and energy resources and the use of equipment and means of new, environmentally friendly technology where possible.
• monitoring of the parameters of its operation that may affect the environment, in order to ensure the observance of the permissible emission limits of the current legislation.
• supporting of the participation and the continuous environmental education of all employees, who apply the environmental management system in their daily work

Our goal is to continuously improve the environmental performance and reduce the environmental footprint of our activity.

In order to achieve the above objectives, the Management provides the necessary resources for the smooth, efficient and effective operation of the company and the Management System.

The Environmental Management System, as part of the Integrated Management System, is reviewed at regular intervals for its completeness and effectiveness, it is modified whenever necessary and at the same time it is notified to the staff.

This Policy establishes the basic principles and procedures governing procurement of goods and services, ensuring the efficiency and effectiveness of the available financial resources.

The term “procurement” refers to any expense related to the purchase or supply of: goods, services, raw materials, equipment, rental of cars, real estate, participation in seminars, concluding partnerships with maintenance , storage, cleaning companies, etc ..

Company’s goal is the supplies and collaborations of the company to be carried out in such a way that:

• suppliers and partners selected are fully in compliance with the existing laws and regulations.
• select only the suppliers and partners who are committed to complying with the company’s requirements and who are identified in the Integrated Management System.
• suppliers and partners will be selected after evaluation. Also, they have to provide guarantees for the quality and reliability of their products and services.
• the traceability of the supplied items is adequately ensured, so that the company can at any time determine the exact means used in specific transports.
• the confidentiality of the business and commercial data of the company and the Customers is ensured, including the movement itself, since the transport also includes dangerous goods.
• all suppliers and partners are treated equally in a professional and ethical manner.
• the principle of competition is upheld by avoiding over- dependence on a single supplier.

General principles

forlabels is committed to purchase materials and services only from suppliers which have been approved in accordance with defined criteria that meet the requirements of legislation, food safety and market specifications.

In the context of the operation of the procurement system, the general principles of law, transparency, objectivity and equal treatment must be followed, guided by the legitimate interest of the company. In particular, the following should be ensured:

• Protection of the company’s benefits: expediency of spending, financial terms, fulfillment of specifications, prompt response and partner reliability, guarantees, etc. .
• Identification of specific specifications as they are determined by the units involved to meet their operational needs
• Exclusion or termination of cooperation with suppliers, who use practices through which the acquisition of privileged management is sought.
• It is not allowed to accept gifts from suppliers, except those that have a small value and ceremonial character.
• Avoid developing a personal relationship with suppliers, which can affect the impartiality of the process.
• Compliance with the terms of confidentiality by the executives involved
• Personnel who have personal interests that may conflict with the interests of the company, or have close relatives who have such interests, to refrain from the evaluation and approval procedures of cooperation or occasional transaction, stating in a timely manner the cause of the impediment.

Supplier Selection and Evaluation Procedure – Criteria

The company has defined the criteria and has developed a mechanism for selecting and evaluating suppliers that are documented in SOP-09 SUPPLIER EVALUATION.

Cooperation agreement

If the supplier is selected, and this is required by the type of cooperation or the amount of value of the contracted project, the contract or private contract is prepared, for the conclusion of the cooperation with the supplier. The responsibility of coordination for the preparation of the contract belongs to the FINANCE Department.

During the contract, all stakeholders must monitor the progress of the cooperation and report in a timely manner any deviation from the agreed terms.

Measures to prevent bribery against supplies

forlabels is committed to act without the undue influence of bribery and corruption. Bribery or other illegal direct or indirect gifts or payments are prohibited under the Code of Conduct and this Company Procurement Policy.

The relevant measures taken shall be documented in SOP-09 SUPPLIER EVALUATION.

This document outlines the Policy of Educational Visits in the factory unit of forlabels sa and concerns the reception of groups of visitors that are organized in consultation with the respective coordinator of the group.

Aims of visits

The purpose of the visits is educational and concerns the guided tour of the visitors in the factory unit of forlabels sa and their acquaintance with the practiced activities, labeling, labels and packaging materials, the industry, and the way the company operates.

Target group

The educational visits to the premises of the company are addressed to groups of students of primary and secondary schools and students of higher education and are arranged after consultation with the company.

Time, duration and schedule of the visits

The time, duration and schedule of the visit are determined by the composition and age of the group.

Visits take place from October to April. There are no group visits during the periods when leave is usually taken by the staff (summer season, Easter, Christmas)

Also, there are no visits during the holidays, as well as days when due to other obligations the company deems that it is not able to meet.

Number of visitors

During visits, the number of visitors in factory’s premises must not exceed 24 people per group.

Obligations of accompanying teachers

1. Each group of students who visit the factory must be accompanied by at least two adults (if they are students) members of the school teaching staff or one (1) accompanying member of the teaching staff of the institution (if they are university students).
2. The accompanying teachers are responsible for the timely arrival of the team at the factory and the departure within the agreed time frame.

• Accompanying teachers are responsible for ensuring that students remain quiet and comply with safety rules applicable to all visitors within the factory, as well as for general appropriate student behavior and compliance.

1. Indicatively, accompanying teachers must inform their students in advance (and ensure) that during their visit and stay at the factory premises:

• transportation and consumption of food or drink is not allowed,
• use of mobile phones or other personal electronic devices is not allowed,
• filming or recording is not allowed,
• they must not touch any machine or material used in the factory,
• must comply with the instructions of the factory staff.

1. In case one or more students have any special needs, the accompanying teachers are obliged to inform the Facility Manager in time, to take the necessary measures, whether it is issues of access to the building and its premises, or general security issues and meeting such needs, etc.
2. In the event that the factory deems that the visit of the student group causes any safety/security issue for the staff, the products manufactured or even the visitors themselves or in any way interferes with its smooth operation, it may interrupt the visit and request by the accompanying teachers the immediate departure of the group.

Arranging an educational visit

Interested teachers may send a request for expressions of interest to the company’s e-mail address. The Company communicates with the interested party within three (3) working days for all relevant arrangements.

Submitting an application does not imply confirmation of the visit. This is done after consultation and final confirmation of the Company.

The Company ensures that the right support staff is at guests’ disposal to provide the right kind of guidance during the site visit.

The Company takes care to inform visitors about the safety rules they must follow.