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Basel, September 29, 2016

Leading providers for the metals technology industry sign memorandum of understanding (MoU) for Anti-Corruption Collective Action Initiative

Danieli & C. Meccaniche SpA, Primetals Technologies Limited and SMS group join in Anti-Corruption Collective Action Initiative

The Collective Action Initiative for the Metals Technology Industry (MTI) brings together the three leading companies in the metals technology industry Danieli & C. Officine Meccaniche SpA, Primetals Technologies Limited*) and SMS GmbH. Anti-corruption Collective Action is increasingly being recognised as a means to bring together companies and other stakeholders to address various forms of corruption risk.

The MTI Initiative member companies recognise that corruption is detrimental to the business environment and has negative social and economic impacts in the communities and countries where it occurs. This initiative reflects their shared commitment and policies against bribery and all forms of corruption, as set out in their respective Codes of Conduct and related internal policies and controls.

The MTI Collective Action Initiative provides a forum for the exchange of anti-corruption compliance best practices and related developments in the metals technology industry among its members to collaborate further in the development of joint anti-corruption initiatives in countries in which they operate.

Representatives from the senior management of these companies have been meeting regularly since mid-2013 to address anti-corruption compliance within their business sector. All the meetings have been facilitated by the International Centre for Collective Action (ICCA) at the Basel Institute on Governance, a Swiss-based not-for-profit competency centre.

The MTI companies have signed a Memorandum of Understanding (MoU) setting out the companies' anti-corruption commitments and proposed actions to promote their anti-corruption principles. This MoU is complementary to, and reflective of, key elements of their respective anti-corruption compliance programmes. The companies are committed to continue working together to ensure that their compliance programmes reflect best practices and fully reflect the undertakings set out in the Memorandum of Understanding. These commitments will continue to be the focus of further work by the companies and the meetings will continue to be facilitated by the ICCA in future.

For further information on Collective Action in general and this initiative in particular please contact:

Basel Institute on Governance

International Centre for Collective Action (ICCA)

Ms Gemma Aiolfi, Head of Collective Action and Compliance:

Gemma.aiolfi@baselgovernance.org

*) In the early stages of this initiative, Primetals Technologies was represented by Siemens VAI Metals Technologies, its legal predecessor before the establishment of the Joint Venture named Primetals Technologies Limited by Mitsubishi Heavy Industries (MHI) and Siemens in January 2015.

Contact for journalists from the MTI companies:

Danieli & C Officine Meccaniche SpA

Gianluca Buoro, Compliance Manager

investors@danieli.it

Tel.: (+39) 0432 195 7562

Primetals Technologies Limited

Dr. Rainer Schulze

rainer.schulze@primetals.com

Tel: +49 9131 9886-417

SMS group GmbH

Dr. Thomas Isajiw

thomas.isajiw@sms-group.com

Tel.: Tel.: +49 211 881-4127

About the International Centre for Collective Action at the Basel Institute on Governance:

The Basel Institute on Governance is an independent not-for-profit competence centre specialized in corruption prevention and public governance, corporate governance and compliance, Collective Action, anti-money laundering, criminal law enforcement and the recovery of stolen assets. Composed of four divisions, the Basel Institute's International Centre for Collective Action works with companies and other concerned stakeholders to develop, facilitate and moderate anti-corruption Collective Action initiatives in a variety of industry sectors. The ICCA also supports research and the development of the academic discourse on anti-corruption Collective Action, as well as hosting the B20 Collective Action hub. Visit www.baselgovernance.org and www.collective-action.com.

About Danieli:

Danieli & C. Officine Meccaniche SpA is the parent company of the Danieli Group, which is active in two synergic business fields of the metals industry such as Plantmaking (Danieli Team) and Steelmaking (ABS). Danieli Team ranks among the world's three top manufacturers of plants and machines for the steel and non ferrous metals industries; ABS is a Europe's leading producer of special engineering steels.

Headquartered in Italy and with a business turnover of approx. 3,000 Mio Euro, Danieli Group employs ca. 10,000 people who mainly operate in Italy, Germany, Sweden, Austria, France, The Netherlands, Spain, UK, USA, Brazil, Russia, Thailand, China, India, and Japan. Investments in R&D account to 140 Mio Euro per year (average in the latest 5 years).

Danieli Team is a pool of highly specialized and experienced divisions providing single-point design, manufacturing, construction, project management, and after-sale service for metal producing plants and equipment worldwide, either on a turnkey basis or supplied as individual units, covering, with company-owned technology, the whole process cycle, (from scrap and ore processing to finished flat, long, and tube products), for ferrous and non-ferrous metals. 

Visit: http://www.danieli.com

About Primetals:

Primetals Technologies, Limited, headquartered in London, United Kingdom, is a worldwide leading engineering, plant-building and lifecycle partner for the metals industry. The company offers a complete technology, product and service portfolio that includes the integrated electrics, automation and environmental solutions. This covers every step of the iron and steel production chain that extends from the raw materials to the finished product – in addition to the latest rolling solutions for the nonferrous metals sector. Primetals Technologies is a joint venture of Mitsubishi Heavy Industries (MHI) and Siemens. Mitsubishi-Hitachi Metals Machinery (MHMM) - an MHI consolidated group company with equity participation by Hitachi, Ltd. and IHI Corporation - holds a 51% stake and Siemens a 49% stake in the company. The company employs around 7,000 employees worldwide. Visit www.primetals.com.

About SMS:

The SMS group, Düsseldorf, is a group of global players in plant construction and mechanical engineering for the steel and nonferrous metals processing industry. The sole owner of the SMS group GmbH is the Familie Weiss Foundation.

Around 14,000 employees generate worldwide sales of around EUR 3.3 billion. Today, the group of companies which has a uniform presence under the SMS group trademark is family-owned in the fourth generation. There are several internationally active suppliers of plants and machines used for processing steel and non-ferrous metals.

SMS group covers the following product range: plants for the steel, aluminum and non-ferrous metals processing industries from ironmaking, steelmaking technology, continuous casters for flat products and rolling mills, surface-finishing lines for hot and cold strips, steelmaking / continuous casting technology for long products, pipe and tube plants, forging technology, copper and aluminum plants, closed-die forging plants right through to ring rolling machines including compatible heat technology, electric and automation as well as appertaining service.

Environmental technology systems are offered under the Ecoplants brand.

Visit https://www.sms-group.com/