New committee to guard moral principles

The role of the committee is to support employees' willingness to operate with honesty and integrity and to support the company in reaching its own general values.

The initiative follows the introduction and the joint signing of the Group's Code of Conduct in February 2006. The Code of Conduct is a document which describes the Group's moral principles. The document can be seen in all Grundfos companies and is signed once every year when all company managers meet in Denmark.

The Ethical Committee was established to ensure that the moral principles are known by all. The committee will also function as a forum where the principles may be interpreted and will ensure that people with relevant knowledge about abuse or risk of dishonesty may communicate their knowledge through to the appropriate channels.

Information of any breach of moral principles and questions of interpretation may be presented to the committee, either in person or anonymously. Grundfos guarantees that colleagues who present information, which they believe to be true and which is presented in good faith with no personal motives, will not be subject to any discrimination for doing so.

The committee is free to initiate independent surveys based on available information. Any approach made to the committee members, either by e-mail or telephone, will be treated as strictly confidential.