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Varvaressos S.A.
European Spinning Mills
P.O. Box 16
592 00 Stenimachos Naoussa

Telephone: +30 23320 / 52 - 650
Fax: +30 23320 / 52 - 676

Code of Ethics

The Code of Ethics of Varvaressos is a public statement

that sets out the guidelines of behaviour towards its employees, customers, shareholders, suppliers, partners, local communities, Public Administration, and the environment.

Well-established and internationally recognized frameworks, such as the United Nations Global Compact and the United Nations Sustainability Development Goals, provide guidance for our thinking and actions.

We recognize the Code of Ethics as a fundamental element of our corporate culture and address it to the members of the Board of Directors, the managers and the employees of the corporate and all of those who, in various ways, act in the name or on behalf of the corporate.

We are committed to developing and maintaining a stable, healthy and safe working environment in which all individuals are treated with dignity and respect, in full compliance with the laws, rules and regulations applicable.

We recognize the value of human recourses and the uniqueness of each human being, who shall not be discriminated grounded on age, colour, gender, sexual orientation, disability, religious beliefs, ethnic origin or political and trade union opinions. The rights to freedom of association and collective bargaining are respected. All forms of child or compulsory labour, violence or abuse in the workplace are rejected.

We strive to create a workplace that offers equal opportunities to our employees with a view to growing their technical and professional skills on the basis of team spirit, transparency and mutual respect.

In relationships with customers, we maintain a strictly professional attitude based on the principles of honesty, fairness, transparency, and mutual trust, while supplying high quality and safe products and services.

We ensure that our products meet customers’ requirements and all the relative information acquired from them during the course of business activities is considered confidential and treated accordingly.

We recognize the vital role of the suppliers in accomplishing our business activities and build our relationships with them based on integrity, fairness, respect, impartiality, and transparency. Suppliers are selected and qualified in accordance with appropriate and objective criteria, based on economic and quality parameters, always seeking to develop stable and long term cooperation.

We strive to increase the positive impact of our business decisions and to support a sustainable future for the environment and society. We carefully select raw materials and suppliers while promoting the sustainable management of natural resources and use renewable energy sources.

Any relationships with the Public Administration shall strictly comply with any and all applicable laws and regulations and are guided by the principles of transparency, honesty, completeness, and truthfulness. The abovementioned relationships shall be managed only by those specifically appointed and authorized for that purpose.

We are not involved in any act of corruption, extortion or embezzlement, nor in any form of bribery, including the promising, offering, giving or accepting of any improper monetary or other incentives.

We keep accurate information regarding our activities, structure, and performance, and disclose these in accordance with applicable regulations and industry benchmark practices. We neither participate in falsifying such information nor in any act of misrepresentation in the supply chain.

Recipients of Code of Ethics have to ensure that every decision is made in the interest of Varvaressos and they must avoid any situation or activity that could lead to any conflict between their personal interests and those of the corporate.

We collect, use and otherwise process any personal information, including, but not limited to, from employees, business partners and customers with reasonable care. The collection, use and other processing of personal information comply with privacy and information security laws and regulatory requirements.

Employees can turn to their direct supervisor and the Head of Human Resources for asking questions on any situation regarding the Code of Ethics or reporting a violation of the Code.

This Code of Ethics was approved by the Board of Directors.

Chairman of the Board

Anastasia Varvaressos

Managing Director

Argirios Sarridis

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