The MAG Group has consolidated, longstanding relationships with most of its suppliers, especially those that make up the supply chain, which is integrated through supply insourcing processes and provides products and services with the necessary certification and qualifications required by the industry.
Contractual terms are based on the principles of integrity, fairness and agreed growth strategies.
In order to treat their suppliers consistently, with a few necessary local differences, the group companies have prepared:
- procedures and operating instructions to ensure that supplier vetting processes and/or the periodic review of suppliers are carried out properly and on an arm’s length basis;
- general contractual terms applicable for specific categories of supplies, which are subject to specific approval and referenced in purchase orders.
To help share with suppliers the values underpinning the group’s business model and to ensure compliance not only with laws but also with the principles of transparency and integrity, MAG has informed all its suppliers of its Code of conduct, which it has published on its website and references in each purchase order that it issues.
The table below breaks down group purchases by current expenses and investments of recent years (amounts in thousands of Euros or percentages):
|Materials, components and purchased semi-finished products||48.866||51,3||37.606||54,5%||31.709||50,6%||36.791||53,0%||44.033||53,5%|
There were no significant disputes with suppliers at the reporting date.