< Southeastern Europe
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
2011 was a mixed year with regard to health and safety results: TITAN’s SEE plants performed very well, as a result of the extensive training and focus of recent years; almost all statistics improved and most plants had an LTI free period. Some plants, like Zlatna Panega in Bulgaria, achieved impressive results (more than two years without LTIs) while all others performed competitively. The effort to increase the number of reported and investigated near misses continued, as it is considered the best way to reduce unsafe activities and conditions.
Among other achievements, TITAN’s Zlatna Panega plant in Bulgaria received two awards from the local government authority for its performance on health and safety; the Antea plant in Albania developed a new integrated system for health and safety which was OHSAS 18001 certified, and the Usje plant in F.Y.R. of Macedonia received a state license to perform risk assessment.
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 were Risk Assessment, Permit to Work, Driving and Contractor Safety.
At the same time, the newly acquired Sharrcem plant in Kosovo was incorporated into the Southeastern Europe region; it is located in a new country, recovering from long years of war and instability, where people’s priorities have not been focused on health and safety. Upon incorporation, an audit was performed and together with improvements in the equipment and processes, the health and safety system was evaluated and a program for improvement will be developed and implemented in 2012.
It is unfortunate that during demolition works carried out by a specialized contractor, a trespasser in the restricted area entered a building that was in the process of being demolished and was killed when the structure collapsed on him.