Contents

3Risk managementIndustrial and environmental risksInvestors are requested to review all of the information presented inthe registration document, including the following section on riskexposure, prior to taking a decision to acquire Sequana shares or anySequana equity-based financial instruments. The risks described arethose risks existing at the present time which, in the opinion ofGroup management and in the event that they crystallise, may havea material adverse impact on Sequana’s business, financial position,results or development prospects. Investors should bear in mind thatas of the date of publication of the registration document, other unidentifiedrisks or risks not deemed by management as constitutinga material potential risk to Sequana’s business, financial position,results or development prospects may also exist.The Group has taken measures to contain certain risks and toenhance its risk management procedures. These are presented in theReport of the Chairman of the Board of Directors which describesthe conditions for preparing and organising the work of the Board(chapter 2) as well as the internal control procedures deployedthroughout the Group which are included at the end of this chapter.The risks to which the Group is exposed mainly comprise industrialand environmental risks, financial risks and legal risks. Where possible,the Group insures against all or a portion of these risks.Industrial and environmental risksRisks to peopleSequana’s production and distribution businesses give rise to a certainnumber of industrial and environmental risks. Arjowiggins’production-related risks concern the nature and use made of rawmaterials and equipment as well as the different types of wastegenerated by the manufacturing sites. Antalis’ industrial and environmentalrisks are mainly indirect and located upstream from itsdistribution activity. Antalis manages these risks by requiring allsuppliers to make detailed disclosures concerning the origin ofraw materials and the manufacturing processes involved.Through the equipment and the various components used inpaper manufacturing, Sequana’s industrial sites present a certainnumber of risks for operatives. These risks break down into variousdifferent categories:■■Risks related to airborne particles (fine wood dust);■■Risks related to the use of chemical products (inhalation followingaccidental liquid spills, creation of toxic clouds due toleakage from containers or faulty equipment, accidental explosionsduring movements of chemicals, accidental release intothe environment of chlorine dioxide, explosions of stored products,etc.);■■Risks related to pollution and discharges (odorous compoundemissions, noise, waste sludge containing heavy metals, phenols,resin acids, chlorinated organic compounds, etc.);■■Risks related to machines and fixtures (fire, crushing or pinchingof limbs in a machine, falls into open bowls during preparation,injury by cutting, electric shocks related to unprotectedelectric relays, etc.);■■Risks related to handling and on-site operations (back injuries,shocks or crushing caused by falling packaging/reels, shocks orcrushing caused by lifting and handling vehicles, etc.).These numerous dangers inherent to industrial paper manufacturingand the use of various items of equipment can lead to occupationalinjury and serious accidents, both during the usage phaseand during cleaning and maintenance operations.Sequana is therefore responsible for putting in place and ensuringthe rigorous application of the most stringent standards guaranteeingthe safety of its employees and regularly verifying andadjusting the Group’s policy in this area. These standards areimplemented via regular audits and the analysis of each incidentor accident. The Arjowiggins group also systematically organisestraining sessions for each employee before he/she takes up theirpost as well as regular awareness-raising campaigns.The Group systematically engages in dialogue with employeerepresentative bodies (previously the Occupational Health andSafety Committee in France) in order to take into considerationthe employees’ expectations, and to actively prepare ways of raisingawareness and training schemes aimed at reducing the risksin plants and warehouses.Furthermore, in order to prevent physical injury, and more generally,ensure good workplace safety conditions, the security ofindustrial installations is progressively bolstered at each productionsite through continuous investment.As part of this process, 12 of Arjowiggins’ 22 sites have been certifiedOHSAS 18001 (occupational health and safety) and certificationis pending for another three sites.74 | Sequana | 2012 Document de référence (English version)