Risk associated with product defects
Claims related to product liability may have a negative impact on the business and operating results of the Śnieżka Group. In order to counteract the risk of product defects, the Śnieżka Group strives to:
- continuously improve research and development programs;
- control production processes;
- quality control of the finished product.
An additional tool protecting against the effects of unwanted events is insurance coverage in the area of product liability.
Due to the complex technological process of the production of paints and varnishes, there is a risk that the final product will suffer from defects. The Śnieżka Group strives to eliminate any product defects at every stage of its development – from technological processes through the purchase of the top quality raw materials, meeting the most stringent standards, to the production process performed at the highest level, accompanied by quality control at every production stage. Also the stages of storage and distribution are subject to very strict internal standards, and are controlled on an on-going basis.
The Company has a procedure for dealing with non-compliant products, which defines the principles for dealing with products that do not comply with the required technical parameters. The current quality control activities allow to ensure specific parameters of raw materials and products as well as allow to take immediate action in the case of non-compliance.