The Transparency Act, concerning companies' openness and work with basic human rights and decent working conditions, came into effect on July 1, 2022. Nyborg AS falls within the scope of this law.
The Transparency and Human Rights in Business Act (the Transparency Act) came into effect on July 1, 2022. Nyborg AS falls under the scope of this law, according to sections 2 and 3 of the Transparency Act. Section 4 of the Transparency Act requires Nyborg to conduct due diligence assessments to identify actual and potential negative impacts on fundamental human rights and decent working conditions, as outlined in section 4, sub-sections a-f. Pursuant to section 5 of the law, the results of these due diligence assessments must be disclosed through an annual report
Nyborg AS is a Norwegian manufacturer of fans and ventilation solutions, with primary markets within the marine sector, offshore energy (oil- and gas and wind energy), industry, and tunnels. Approximately 50% of the production is exported to customers worldwide. A significant portion of the customer base consists of large national or multinational publicly listed companies. As part of the supply chain within offshore energy, Nyborg is subject to strict requirements for documentation, certifications, and quality.
In addition to production facilities in Norway, Nyborg AS is also the majority owner of a factory in Malbork, Poland, and an engineering company in Gdynia, Poland.
Nyborg AS is entirely owned by Norwegian stakeholders.
By being certified to ISO9001 and adhering to strict customer requirements, Nyborg AS conducts regular assessments of its suppliers.
Primarily, Nyborg's suppliers consist of Norwegian or European companies, with the largest and most critical ones being larger enterprises, either subject to transparency laws or listed companies subject to stringent ESG reporting requirements.
Nyborg has closely collaborated with our key suppliers for several decades, emphasizing stable and trusted relationships. Regular meetings are held with the largest and business-critical suppliers.
The largest subcontractor to Nyborg AS is the company where Nyborg holds the majority of shares, thus having full insight and control over the company's activities. Regular visits and inspections are conducted.
An important part of the transparency law is due diligence assessments, which aim to uncover potential and actual negative impacts the company may have on people, society, and the environment. These assessments should be both preventive and recurring, indicating continuous work for the company.
Nyborg has initiated the process of identifying our suppliers to conduct due diligence assessments. As part of this process, the company has developed and sent out a standardized questionnaire to gather and systematize information. The supplier list has been reviewed, and the questionnaire has been sent out to our suppliers. The selection of suppliers for the questionnaire is based on size and internal risk assessment regarding the complexity of the value chain.
The purpose of the questionnaire is to lay a solid foundation for conducting individual due diligence assessments.
The responses from the survey will be systematized and published.
Nyborg initially has a relatively uncomplicated supply chain, but certain purchased complex products may consist of a deeper value chain. This can entail a risk as it becomes more challenging to have full visibility over the flow of materials, goods, and services. Some components may consist of metals and minerals with a higher risk of human rights violations. Nyborg works to reduce this risk by collaborating with reputable and recognized actors.
Further measures and follow-up will be considered once the full mapping of the supply chain has been completed.
Sykkylven, 28.06.2023