Monday 25 May 2020

Communities

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Local communities are one of TITAN Group’s most significant stakeholders. Building and retaining good relations grounded on mutual understanding, sharing of common interests and perspectives and responding to potential concerns are the pilars of TITAN’s relevant policy and practices.

Among the main initiatives that have been inspired by TITAN’s approach to community engagement in 2010, are the «Feed Minds - Change lives» program in Beni Suef, Egypt, the on-line disclosure of air emissions initiative, in Usje, FYROM, the new «Road Map» agreed with local stakeholders in Elefsina. More information on these as well as on other initiatives may be found in relevant sections of this Report and in our website.

In 2010 TITAN continued to contribute to local community projects with financial, human and technical resources. Priority was given to long-term community and business engagement programs such as reforestation. The total expenditure through donations at Group level reached € 2.22 million including donations by the recently acquired plant in Kosovo.

Distribution of TITAN
Group Social Product 2010

  • To employees for salaries, pensions and social benefits, including additional benefits beyond those provided by law:
    €239.1 million
  • To local and international suppliers:
    €801.8 million
  • For new investments in fixed assets:
    €87.2 million
  • Τo state and local authorities through taxation:
    €90 million
  • Return to shareholders and minorities:
    €17.2 million