Cytech becomes a benefit company
The company from San Vendemiano (Treviso), owner of the Elastic Interface® brand, has become a benefit company as of 30 June 2022
San Vendemiamo (Treviso – Italy) 11 July 2022 – As of 30.06.2022, Cytech, the company that owns the Elastic Interface® brand and a global leader in the production of chamois pads for cycling shorts, has changed its Articles of Association and became a benefit company.
To be a benefit company means to act with the aim not only of pursuing profits, as is logical for any business, but also to have goals that look to the common benefit. A benefit company operates in a responsible, transparent, and sustainable manner. It considers that any of its actions have an impact and that this impact should be, as far as possible, positive.
The long-term commitment sanctioned by the Shareholders’ Meeting on 30 June is the seal on a path that, for Cytech, has always been a reality. Indeed, since its foundation, the company has been guided by principles of transparency, fairness and respect for the environment and the society in which it operates. Moreover, since 2017, the company has officially adopted the 3R programme for waste reduction and conscious use of resources, as well as being ISO 14001 certified since 2018.
There are three areas of action identified by Cytech to generate an impact of common benefit: environmental protection, valorisation of human resources and promotion of sport as a healthy lifestyle and social inclusion.
In the area of environmental protection, the goal will be to minimise the environmental impact and amplify the positive impact by continuing to integrate practices that respect the principles of environmental sustainability into business processes.
Regarding sport, the values it embodies are believed to be the primary tool for social inclusion and integration, in addition to being synonymous with psychophysical wellbeing.
Finally, consolidating the focus on enhancing the value of human resources: building a positive and inclusive working climate among employees, protecting their rights and duties, safety, training, enhancing skills, developing potential, through concrete welfare measures and promoting a good balance between professional and personal life.
Massimo Fregonese, CEO of the group, which includes not only Elastic Interface® but also the Berenis and Cypad brands, said: “For Cytech, being a benefit company means being aware that our actions have an impact. This is the key point that drives us: what we do today will have consequences on tomorrow’s world and, therefore, on the world our children will live in. By incorporating areas of common benefit into our Company Statue, we have made a concrete, long-term commitment to future generations. Our actions always have consequences: whether they are positive or negative consequences is up to us to define. Cytech, with this signature, has made its choice!”