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Vassiliko Cement Works Public Company Ltd.

Member: Gold
Since: 06.07.2006

1A Kyriakos Matsis Avenue, P.O. Box 22281, CY - 1519 Nicosia, Cyprus


For Vassiliko Cement Works, Corporate Social Responsibility is a piece of cake that never ends. CSR can be defined in many different ways ending up to the same conclusion, namely that CSR is an integral part of a business's daily operation and activity.

To put it simply, it means to do the right thing. It practically examines the way an enterprise’s operations and actions affect all stakeholders such as shareholders, employees, customers, suppliers, local communities, business partners; CSR is also the reaction or the feedback returning to the enterprise by all above factors.

Vassiliko Cement Works understands fully that CSR is an ever lasting value and that corporate decisions should not be solely based on financial factors, such as profits or dividends but should equally co-calculate direct and long term social and environmental impact resulting from the interests of customers, employees, shareholders, local communities taking into consideration the ecological components in all sectors of business operation.

Since 2008 we have elaborated a Corporate Social Responsibility policy that enabled us to promote a different profile with regard to Local Community and the Society in its entirety. With our CSR policy we were able to build a relation of co-habitation and synergy between our activities and society, forging a climate of trust and cooperation with all stakeholders.

At Vassiliko Cement Works, we divide CSR in three basic pillars: Personnel, Environment, relations with society and social initiatives.

With regard to the personnel, we cover 4 specific areas of action aiming at better personnel performance. The areas in question are the following: working environment, remuneration and benefits, equal opportunities and employability issues. In the working environment our objective is to meet concerns related to health and safety, prosperity programs, balance between family and work life, accidents. For this purpose, a system has been compiled including the following:

  • Procedures-systems to reward performance
  • Transparent rules and criteria for meritocratic recruitment procedure
  • Transparent and meritocratic evaluation procedures
  • Health and Safety systems and rules beyond statutory provisions
  • Rules, quatitative targets for personnel training aimed at their appropriate training, career development empowerment and support of technological and organizational changes that contribute to the improvement of the overall professional evolution of employees.
  • Systems and procedures to regularly inform employees regarding the entire corporate activity.
  • Regular information to employees’ representatives
  • Information and  programs of dialogue

For the company, the issue of Environment involves decisions pertaining to prevention of pollution, reduction of pollutants, waste management, effective use of natural resources and damage recovery (rehabilitation of quarry areas, tree planting etc), promotion of recycling and mitigation of negative environmental impact. These are not only words; they are evidenced by numerous good practices and many 'success stories'.

Besides the planting project in large sectors of the production unit and quarries that have exhausted their resources, the Company contributed to the development of parks undertaking green zone planting activities in adjacent communities.

Relations with Society and Social initiatives
The relation with society is a very sensitive part encompassing local, national and broader society.  Local community, however, is the most important part since we operate therein. Sponsorships are promoted either in the form of infrastructure or current events of any form and any kind of charity. We put forward cooperation programs with universities, educational institutions and schools and volunteerism schemes of employees, participation in social activities in cooperation with NGOs and campaigns.