3ESC Enhances Competitive Agility, Enables Market Access, and Reduces Risks
Thursday, January 30, 2014
Carlsbad, California — 3E Company, a leading provider of environmental health and safety (EH&S) compliance and information management services, today announced that VOXX International Corp. (NASDAQ:VOXX), has chosen the 3ESC™ platform to support its supply chain product compliance initiatives, specifically its efforts to comply with existing and emerging conflict minerals regulations, such as section 1502 of the Dodd-Frank Act.
VOXX International, a global leader in the supply of consumer and mobile electronics, is dedicated to executing a program that not only complies with the requirements of Dodd-Frank Act, section 1502, but also supports the spirit of the rule while addressing the concerns of customers and stakeholders.
3ESC will help VOXX International obtain, document, and manage the wealth of product-specific data necessary to inform a complete compliance-based product risk profile and substantiate the due diligence activities required by the Dodd-Frank Act. In addition, the robust analytical capabilities of 3ESC will help VOXX International determine if any raw materials contain restricted substances, the compliance risk by supplier, and the regulatory risk by product or product category. Access to this information not only promotes compliance with Dodd-Frank but also supports business continuity, enhances competitive agility, bolsters market access, and reduces costs.
“VOXX International literally has thousands of products produced in both domestic and international factories. As such, the development of a conflict minerals policy requires a substantial effort throughout our worldwide facilities,” said Loriann Shelton, senior vice president and chief accounting officer, VOXX International. “We chose 3E because we believe their reputation as a leader in this area will give us access to their proven best practices that we can implement across our manufacturing facilities. We also believe that by working closely with 3E we should be able to assure compliance more quickly than if we attempted this major initiative alone.”
“3E Company is excited to support VOXX International’s supplier compliance program, the goal of which exceeds basic compliance with conflict minerals or other legal requirements. The 3ESC solution will supplement VOXX International’s already rigorous manufacturing standards with a disciplined due diligence process that satisfies the Reasonable Country of Origin Inquiry (RCOI) requirements of Dodd-Frank and also provides visibility into and actionable intelligence about the status and risks of suppliers and materials,” said Connie Prostko-Bell, director of supply chain compliance solutions, 3E Company.
Supply chain transparency is vital to the successful management of compliance risks, such as conflict minerals, and customer requirements. 3ESC provides manufacturers such as VOXX International with the intelligence they need to visualize and address compliance requirements, supply chain risk, and market barriers. 3E Company’s unique solution has a history of successfully capturing, comprehending, and communicating information about products, raw materials, suppliers, and processes throughout the entire supply chain, providing its customers with a robust and reliable long-term solution, rather than a software program.
The 3ESC Conflict Minerals Solution features a powerful combination of content, services, and technology closely aligned with the Organisation for Economic Co-operation and Development’s (OECD) guidance to conduct supplier engagement. This approach supports due diligence at the supplier level to identify the presence of tin, tantalum, tungsten, or gold and attempt to determine the country of origin of those materials.
About 3E Company
3E Company, a subsidiary of Verisk Analytics (Nasdaq:VRSK), offers a comprehensive suite of data and solutions for environmental health and safety (EH&S) compliance management. This solutions suite addresses the entire chemical life cycle and includes regulatory research; MSDS authoring, distribution, and management; transportation; emergency response; training; regulatory reporting; and hazardous waste management. 3E provides an industry-leading combination of a 24/7/365 EH&S mission-control call center and the world’s premier hazardous substance database of global regulatory and compliance information. The company was founded in 1988 and is headquartered in Carlsbad, California, with additional operations in Canton, Ohio; Bethesda, Maryland; Kingsport, Tennessee; Montreal, Quebec; and Copenhagen, Denmark. For more information on 3E Company, visit www.3ecompany.com.
About VOXX International Corporation
VOXX International Corporation (NASDAQ:VOXX), the company that began as Audiovox over 45 years ago, has morphed into a worldwide leader in many automotive and consumer electronics and accessories categories, and now into premium high-end audio. The Company’s brands hold leading market positions across a wide spectrum of consumer and automotive segments.
Today, VOXX International is a global company with an extensive distribution network that includes some of the world’s Fortune 500 companies and an international footprint in Europe, Asia, Mexico, and South America, and a growing brand portfolio, which is now comprised of over 30 trusted brands, including Audiovox®, Klipsch®, RCA®, Invision®, Jensen®, Acoustic Research®, Jamo®, Energy®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Hirschmann Car Communication®, and Oehlbach®. The Company continues to drive innovation throughout all of its subsidiaries and maintains its commitment to exceeding the needs of the consumers it serves. For additional information, please visit our Web site at www.voxxintl.com.