California Transparency in Supply Chains Act
The California Transparency in Supply Chains Act of 2010 requires certain companies doing business in California to make disclosures regarding their efforts to eradicate slavery and human trafficking from their supply chains. As stated in Astec Industries Inc.'s "Core Values", "Code of Business Conduct and Ethics", and "Conflict Minerals Policy", Astec promotes honesty and integrity in all aspects of business and have the utmost respect for all individuals. We expect our suppliers to promote environments of respect for all individuals worldwide and to operate in a manner that imposes honor and integrity in all aspects of business. Astec's supply chain management and code of business conduct address each of the Act's five areas of focus:
- Verification: Astec verifies its supply chain through the supplier onboarding and contracting process and under our Conflict Minerals program. As part of those programs, Astec's suppliers are expected to respect all individuals and promote the core values of dignity and honor in their operations. This includes zero tolerance for human trafficking and illegal labor practices in the supply chain.
- Audits: Astec monitors its suppliers for adherence to our Core Values and Code of Business Conduct and Ethics. We reserve the right to perform audits of suppliers to evaluate any risks in the supply chain in violation of Astec's policies, including activities related to human trafficking or illegal labor practices.
- Certification: As part of Astec's contracting process, suppliers must agree to comply with all governing laws and regulations. This of course includes all prohibitions against forced, involuntary, or child labor, and any form of human trafficking.
- Accountability: Only suppliers who comply with the expectations detailed in Astec's Core Values, Code of Business Conduct and Ethics, Conflict Minerals Policy, and contract terms and conditions will be permitted to supply materials or services to Astec. If non-compliance with these standards (including human trafficking and slavery prohibitions) is found and verified, such suppliers will be removed from Astec's supply chain.