Antalis Limited – Annual report – 31 December 2019
Industry: Paper and Packaging Merchant
This section serves as our section 172 statement. Section 172 of the Companies Act 2006 requires Directors to take into consideration the interests of all stakeholders in their decision making. The Directors continue to have regard to the interests of the Company’s employees and other stakeholders, including the impact of its activities on the community, the environment and the Company’s reputation, when making decisions. Acting in good faith and fairly between members, the Directors consider what is most likely to promote the success of the Company for its members in the long term. Whilst the importance of giving due consideration to our stakeholders is not new, we are explaining in more detail this year how Excom (executive commitee) engages with our stakeholders, thus seeking to comply, a year early, with the requirement to include a statement setting out how our Directors have discharged this duty.
The Directors value the close relationship it has with its Trade suppliers. The more strategic suppliers’ relationship is managed mainly by colleagues in group procurement but also locally with the UK Commercial Team. Regular discussions occur on Forecasts, Pricing, Terms, Developments and Operational matters.Local suppliers are managed by the UK team and cover the above areas.
|Non-Trade||Non-trade suppliers are managed locally except for where Group policies are driving scale benefits. Relationships are mainly maintained at Director level and through local purchasing. Antalis values these relationships and has close dialogue with suppliers around the business.|
|KPP||Very close working relationship is held by colleagues at Group and at Group Board level. It is envisaged that more local Director relationships will develop following the acquisition and the new Group Board representation from KPP colleagues.|
|Public||Antalis is a quoted company on the French Stock Exchange. Formal relations are well maintained in line with legislative requirements. Independent analysis of the KPP offer price was also obtained to ensure that a fair offer was being made.|
|Pension Fund||In 2019, the Board and Group CFO and CEO have asked the UK&I Finance Director to lead on a full review of Antalis Limited’s defined benefit pension schemes. This has progressed very well by engaging all the Trustee stakeholders.|
|Community Relations||Antalis' Directors are very conscious of its relationship with the community that surrounds its national portfolio of sites. This community relationship was further strengthened during the pandemic when Antalis’ packaging division provided bespoke packaging to foodbanks and PPE to health workers.|