PE France - Corporate Governance

Polimeri Europa France is a French company whose sole shareholder is the italian company Polymeri Europa S.p.A.
The company's registered office is situated at Mardyck, Usine de Dunkerque, Route des Dunes.
The principal objects of the company are the following:

• to exploit the petrochemical complex in Dunkerque site that includes a cracker for the production of olefins, installations for the production of polyethylene and other chemicals and a set of goods and related equipments;
• to manufacture chemicals, to buy and sell these products both on behalf of the company itself and on behalf of third parties;
• to buy, to sell, to manufacture and process raw materials, products and equipment used in the chemical industry;
• to store and maintain these raw materials and chemical products both on behalf of the company and of third parties;
• to create, to acquire , to use and sell  brands and manufacturing processes as well as patents and licences;
• to exploit and use directly or indirectly industrial and commercial sites in connection with the Company’s business;
• to buy, to rent (with or without sales promise), to construct, to renew, to install and use buildings, laboratories, factories, warehouses, rooms, materials and movable property which may be convenient or  necessary in connection with any business or activity on behalf of the Company or third parties;
• the direct or indirect involvement in all operations connected to the above mentioned Company’s activities, or which may appear likely to support its business, by constituting new companies or vesting such companies or existing ones or joint ventures with all or part of its assets, movable property and immovable property; by mergers or cooperation with these companies; by supplies or transfers of such assets to these companies or to any natural or moral person; by subscribing, purchasing or selling bonds, interests and social rights, shares, deposits, loans or others or group of economic interests in order to carry out anything which may seem capable or necessary to facilitate or develop the economic activities of its members and to improve or enhance the results of such activities.
• in general any operation of commercial, industrial, financial, real estate or and security nature which may be directly or indirectly considered in connection with any business or activities both on behalf of the company itself and on behalf of third parties or joint ventures.

The company has chosen the legal form of SaS (Simplified joint stock company) and is represented by a President appointed by resolution of the sole shareholder that also determines the duration of his mandate.  The President is responsible of the “Direction Générale‘ of the company. He is empowered to act in name and on behalf of the company performing the activities related to the object of the Company. The President represents the company in relationships with third parties.
On President’s proposal, the sole shareholder may appoint one or more Managers to assist the President, some of these Managers may be appointed as General Manager. The General Manager represents the company acting with third parties. The company has a Steering Committee composed of five members appointed by the sole shareholder. The President is member of the Steering Committee by rights.
Polimeri Europa France has defined an harmonious and uniform system of regulations concerning its organizational structure, its relationships with third parties, with the Shareholder and related parties in compliance with the highest standards of Corporate Governance according with  policies, directives, procedures and practices existing in the Group. They shall indicate in particular:

• Granting to the Steering Committee a leading role in the Corporate Governance Company standards;
• Granting managing powers to the President except for those reserved exclusively to the Steering Committee;
• Ensuring that Members of Steering Committee are suitably qualified/experienced.
• Appointement of Committees (Comitè Crèdit Polyéthylène, Réunions de Direction, Comité Qualité, Hygiène, Sécurité et Environnement du Site, Comité Technique, Comité investissements) ;
• Enforcement  of the Code of Ethics of Group containing rules and guidelines the employees has to comply with in performing their activities and their relations with third parties.