In August of 2012, the Securities and Exchange Commission adopted a new rule, as required by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to require companies to publicly disclose their use of conflict minerals that originated in the Democratic Republic of the Congo (“DRC”) or an adjoining country (together with the DRC, “Covered Countries”). The new rule took effect on November 13, 2012. The four minerals consist of tin, tantalum, tungsten, and gold.
TSE Industries, Inc. is not required by law to report or publicly disclose any use of conflict minerals in their purchased raw materials. However, we frequently receive inquiries from customers who are publicly traded and are required to disclose the presence of conflict minerals in their products. Additionally, TSE is supportive of this initiative to champion human rights and is behind the effort of this law.
TSE Industries, Inc. does not directly source any of the above mentioned raw materials and, in most cases, is several layers removed in the supply chain. Additionally, it is our policy not to knowingly purchase any raw materials that contain Conflict Minerals from the above stated region.
We ask our Suppliers for adherence to the same standard. The responses we have accumulated to date indicate that no supplier to TSE Industries, Inc. is knowingly purchasing or using any tin, tantalum, tungsten, or gold in the manufacture of the raw materials and packaging sold to TSE. Suppliers to TSE Industries are expected to source only from sources outside of the Covered Countries and report to TSE Industries, Inc. any deviation to the contrary.