< Eastern Mediterranean
Social Performance
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
Following the political unrest of the Arab spring, in 2011, new issues have arisen relating to the privatization of the formerly state-owned heavy industries like cement production, which took place more than ten years ago. People from the broader area of Alexandria who worked there in the past, before TITAN acquired full control of the plant, have demanded to be employed again. However, throughout the difficult times experienced in Egypt over the last two years, TITAN has continued to care for all employees and communities around the plants, providing both financial and non-financial support to people and seeking specialized expertise and advocacy with national institutions and organizations when needed.
2011 was a very successful year with regard to health and safety results: the three plants in the Eastern Mediterranean achieved a very good record, as a result of the extensive training and focus of the last few years; all statistics improved and two of the plants had an LTI free period, Beni Suef for the second successive year, while Tokat saw its LTIs reduced by an impressive 80%. The effort to increase the number of reported and investigated near misses continued, as this is considered the best way to reduce unsafe activities and conditions.
Among other achievements, the Alexandria plant received an award from the local government authority for its performance on health and safety. Beni Suef implemented original programs for the inspection of all belt conveyors, while extensive training programs for the professional drivers were organized in both Egyptian plants, which also managed successfully the challenges from the political crisis that developed in 2011. Tokat, in Turkey, had its Health and Safety System OHSAS 18001 certified and initiated actions reaching all employees to improve their awareness on Health and Safety issues.
On the improvement front, the “Safety Pillars” project was initiated in mid-2011: Each BU received an assignment to develop new rules, or review existing rules, on safety issues and eventually produce guidelines that will be shared within the region. All items were completed and are now under final review. The intention is that they be distributed for application in the third quarter of the year. The subjects for the Eastern Mediterranean region were Training and Competencies and Management of Change.