Bet Shemesh Engines (“The Company”) shall operate towards achieving its goals according to the following Core Values and principles:

Bet Shemesh Engines – Operating as One Unit

Cooperation, Responsibility, and Mutual Appreciation – We shall cooperate and closely coordinate activities between all parts of the Company – in Israel and internationally, at Bet Shemesh Engines and its subsidiary and associated companies.

We shall encourage openness, transparency, responsibility and mutual appreciation, towards development of one organizational language and one organizational truth, and towards achieving joint success.

Commitment, Leadership and Modesty – We shall cultivate a spirit of commitment and perseverance towards achieving the Company’s goals. We shall encourage leadership, initiative, assuming responsibilities and achieving personal and team success, all whilst maintaining modesty and quality in our business approach and conduct.

Excellence and Efficiency

Customer Focus – We shall always be customer-focused, and attentive to the quality requirements, timeline, and varying needs of our customers around the world. We shall conduct our activities, throughout the Company’s operations, with the goal of providing added value to our customers, and delivering products and services of the highest standards.

Striving for Excellence, Efficiency and Professionalism – We shall strictly maintain high quality standards and requirements, and implement efficient and lean manufacturing processes throughout the Company’s operational activities, to guarantee professionalism, competitiveness, and optimal operational and commercial performance.

Innovation, Creativity, Boldness. We shall encourage boldness, creativity, and thinking outside the box in order to advance the Company’s goals, its products, and to provide solutions for the needs of the Company and of its customers.

Proper, professional conduct in the Business Arena

Honesty, Fairness, Responsibility and Credibility – We shall maintain our relationships with customers, suppliers, partners, employees and shareholders in a fair, responsible and credible manner.

We shall adhere to the laws of the State of Israel and all other applicable laws in venues in which the Company operates. We shall maintain proper and suitable business conduct throughout the Company’s activities, including promotion of the Company’s products, gathering of competitive information, and any other purpose.

The Company’s publications and reporting shall be accurate and credible.

Ethicality and Morality in Personal and Business Conduct.

The Company’s employees shall act strictly in accordance with their authority and areas of responsibility, and their decisions shall be made based upon their best professional opinion and for the benefit of the Company, and in accordance with the Company’s policies.

We shall maintain credible and transparent reporting, and provide accurate and authentic information to and between all parts of the Company.

The Company’s employees shall avoid situations and activities which may lead to a conflict of interests between their own and those of the Company. The Company’s employees may not use inside information for personal gain and interests, including for directly or indirectly trading with the Company’s securities, use of inside information and fraudulent acts, as such are defined by law. Employees, management, any party engaged by the Company and acting on its behalf, and the Company’s business partners, are forbidden to receive or grant bribes, even for the purpose of advancing the Company’s interests.

Activities for Suitable Purposes – The Company shall act to prevent use being made of its employees, facilities or property for political purposes in Israel or abroad and act to prevent taking advantage of the Company, its standing and reputation, for political gains.

Safeguarding of Assets – The Company’s assets shall solely serve the Company’s purposes. The Company’s employees shall ensure proper use of the Company’s systems, and the information therein, in order to prevent dangerous situations for the Company, third parties, the State of Israel and other states – commercially and security-wise, and to prevent the unintentional impediment of any person’s or third party’s rights.

The Company’s employees shall be careful and conscientious in their use and safeguarding of the Company’s and third parties’ information and intellectual property, and shall act in accordance with the provisions of the law and the Company’s regulations.

Suitable Working Conditions

Safe and Positive Working Environment – The Company shall maintain a healthy, safe, creative and productive environment without discrimination, intimidation, harassment or any type of violence. The Company shall insist on mutual respect, and protection of privacy of its employees and of all parties with which the Company enters working relationships.

The Company shall enact social and environmental awareness, and shall promote accessibility for the disabled. Employees shall be guaranteed the option of filing complaints whilst maintaining secrecy and protection of the complaining employee. The Company shall maintain a working environment without sexual harassment and shall act in accordance with the Company’s Bylaw for Protection from Sexual Harassment.

Suitable Working Conditions and Remuneration – the Company shall hire employees based upon their abilities, education, and suitability to the requirements, without discrimination, and for due remuneration. Promotion, evaluation and remuneration shall be determined by the Company’s management, without discrimination or prejudice.

Responsibility towards Community and Country – As a leader in its field, the Company sees itself as responsible not only for its employees and its commercial interests, but also as having a responsibility towards the country and the community within which it operates. Developing a strong and ongoing relationship with the community and country is an integral part of the Company’s activity.


This Ethical Code shall apply to Bet Shemesh Holdings (1997) Ltd., Bet Shemesh Engines Ltd., and all subsidiaries of Bet Shemesh Engines Ltd. The Ethical Code shall apply to management and employees – one and all.

In the event of any discrepancy between languages, the version in the Hebrew language shall take precedence.