Prezioso

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Prezioso-Technilor is a leading provider of insulation, scaffolding and surface coatings services to maintain and extend the lifespan of industrial and marine structures.

Prezioso-Technilor’s services are critical to protecting the integrity of high value/zero defect installations such as oil and gas installations, electricity generating plants (including nuclear), water and sanitation installations, general industrial plants, ships and civil engineering infrastructures.

Prezioso-Technilor (Prezioso) is a market leader, with a well-established position in the industry. Customers include multi-nationals such as EDF, Total, BP, Exxon and Shell. Its maintenance services and coatings are often applied in particularly harsh and demanding environments, such as off-shore oil and gas structures and nuclear power plants.

Prezioso is a French company with strong international operations; approximately 60% of sales are generated outside Europe, notably in Western Africa for the offshore oil and gas industry.

Prezioso’s ESG focus includes health and safety, environmental impacts and business ethics.

Safety
Safety is Prezioso’s top priority. The firm operates in environments that pose significant work related safety risks. A pro-active safety culture is at the heart of Prezioso’s operations. Safety statistics are tightly monitored and performance to date has been excellent. Frequency rates of work-related accidents have dropped consistently over the past 12 years, and improvements have accelerated in the last three years.

Constant improvement is part of Prezioso’s safety culture. A major review of culture and operational safety measures, entitled ‘Culture and Security’, was conducted in 2012, led by the ICSI (Institut pour une Culture de Sécurité Industrielle) and aimed at understanding any differences in the values, attitudes and work methods shared by staff. The review evaluated strengths and weaknesses, obstacles and opportunities and identified potential measures to improve safety risk controls.

The results of the survey were submitted to Prezioso’s executive and supervisory board in November and December 2012 and its recommendations were used to define a performance improvement plan launched in February 2013. Specific working groups are now addressing individual areas identified for improvement, such as a revision of procedures, fall arrester systems for scaffold tower working and a tracking survey which will be undertaken in 2014 to evaluate progress.

Lost time injury frequency2

Environment
Many of Prezioso’s activities have potential environmental impacts. The group has a sustainable development action plan that addresses such areas as: potential air pollution from VOCs (volatile organic compounds), dust and aerosols used in cleaning and coating; the protection of water and land by the planned disposal of harmful waste (detergents, oils, hydrocarbons etc.); noise pollution; and waste management.

The group joined the UN Global Compact (see www.unglobalcompact.org) in 2012.

Business ethics
Prezioso is fully committed to implementing the most stringent ethical rules and fully complies with the UK Bribery Act based on zero tolerance anti-bribery policies. The company operates in a number of regions, such as North and West Africa, and in a business sector, where bribery risk exists.

Anti-bribery policies have been formalised following the guidelines of the UK Ministry of Justice which are the world’s most stringent. These are included in Prezioso’s Ethical Charter, underpinned by a precise Compliance Guide. Adherence to anti-corruption policies is mandatory across the whole group, with additional rules applicable
in higher risk countries.

Communications and governance

A network of local Compliance Officers and Compliance Committees has been established in each operating geography, reporting to a Group Compliance Committee which includes both the Chairman and the COO.

The group’s Quality, Health, Safety and Environment (QHSE) systems have also been restructured and decentralised on a regional and sector basis to improve focus and accountability.

Staff and business partners receive regular training in all aspects of safety, environmental procedures and business ethics. All employment contracts include specific clauses covering compliance and governance, and new recruits receive training as part of induction programme.

Accelerating performance
Since Cinven’s acquisition of Prezioso in 2012 focus on QHSE across the group has continued with a commitment to further improving its already excellent performance.