Umicore is a publicly listed company. As such, we interact with many parties who have an interest in the way we conduct business. The relationship that we foster with these parties or stakeholders has a direct impact on our success. Stakeholder engagement at Umicore is based on a localised approach whereby all sites are required to identify their respective stakeholders and establish suitable ways of engaging with them. In many cases, such as the dialogue with customers and suppliers, the stakeholder relationships are primarily managed by the business units themselves, in line with our decentralised approach to unit management.
Our ambition is to produce “materials for a better life”. Our materials can be found in a wide variety of applications that make day-to-day life more comfortable and help contribute to a cleaner environment. Umicore has an international customer base, with 60.6% of 2018 revenues being generated outside Europe. The business units are responsible for providing support to their customers to improve their understanding of the hazards and risks of any products either on the market or under development. Interaction with customers is ongoing and is managed by the business units.
All business units have a customer feedback process through which they periodically gauge the level of customer satisfaction with their products and services. In the most technologically advanced businesses, the relationship with the customer is often closely integrated. Developing advanced products often involves years of research and development work in direct collaboration with such customers.