Distribution of value created by TITAN Group in 2011
Total value created in 2011 was €1026.6 million and distributed to key stakeholders as follows:
- To employees for salaries, pensions and social benefits, including additional benefits beyond those provided by law: €218.1 million
- To local and international suppliers: €642.9 million
- For new investments in fixed assets: €58.1 million
- To state and local authorities through taxation: €82.6 million
- Return to shareholders and minorities: €24.9 million
The top priority for TITAN Egypt remains the safety of its employees and the continuous improvement of health and safety performance in the two plants that the Group operates in Egypt. In 2011 the Beni Suef plant reached 748 days, and the Alexandria plant 384 days, without any lost time injuries. The commitment of TITAN Egypt to OHS is confirmed by the certifications obtained in 2011. In December 2011 the Beni Suef plant received certification to the following standards: Quality Management System ISO 9001, Environmental Management System ISO 14001 and Health and Safety Management System OHSAS 18001.
In July 2011 the Alexandria plant received the following certifications: Health and Safety Management System OHSAS 1800:2007, Quality System ISO 9001:2008 and Environmental Management System ISO 14001:2004 - which represent the three Management Systems implemented there.
In addition, safety tours were organized of both plants by Management Committee members and a procedure to inspect and audit TITAN’s sites by the management teams was established. Moreover, an emergency and evacuation plan was developed for the Head Office and fire alarm systems were upgraded in both plants. Last, but not least, training sessions for emergencies were organized in the Head Office and in both plants.
In May 2011, TITAN’s Alexandria plant was awarded the shield of Occupational Health and Safety from Egypt’s Ministry of Manpower and Immigration, in recognition of the advanced level achieved by the plant in this field and also as an acknowledgment of the efforts made by the Company to ensure a secure working environment for its employees.
