A N N U A L R E P O R T A N D A C C O U N T S - CMVM

Management Report of the Board of Directors - Financial Year 2008
Among the senior executives, 321 (69.3%) are Engineers.
Among these, 201 (62.6%) joined the company as newly
graduated trainees
The importance given to professional engineers is one of
the main flagship policies at “TEIXEIRA DUARTE -
Engenharia e Construções, S.A.”. It was introduced many
years ago and gives the Company its own emphatic, special
and distinguished identity. Ever since its establishment, it
has been an engineering company, which trains junior
engineers under the most rigorous standards of ethics and
professional conduct, instilling in them the wholesome
principle of thinking about things, of reflecting upon the
issues posed to them, to use logical reasoning to solve
problems. They are encouraged to be good observers of
nature and its creatures – among which humans are the
most perfect and complex of all – and to understand and
respect nature, as well as learn from it. Critically applied,
these are valuable tools for seeking solutions to the
problems that arise during the course of a professional
career.
Engineers are not just professionals trained to solve
problems. Their primary concern is to prevent problems
before they arise. Here, as always, nature is a wise and
irreplaceable teacher, so an engineer must be humble and
intuitive enough to learn from his surrounding environment.
With regard to Social Responsibility, “TEIXEIRA DUARTE
- Engenharia e Construções, S.A.”, on its own and through its
shareholders, its directors and employees, has always played
an active role, mainly in what concerns the well-being of its
employees and their families, and it is precisely through these
concerns, joint efforts and common objectives that the
purpose of achieving social justice for everyone is best
pursued.
The implementation of a Social Responsibility Management
System for the current year of 2009, with the aim of
certifying it, appears to be a natural consequence of these
practices.
In line with these principles, the Board of Directors has
decided it should focus, from an institutionalised position, on
a posture that shows the genuine commitment that
TEIXEIRA DUARTE has dedicated to the consubstantiation
of a supporting policy for the needy, meaning not only
actions in the internal plan of its organisation, but also in
certain areas of charitable organisation. Thus, and within the
internal scope, the Board of Directors decided to promote, in
relation to 2008, an initiative addressed to TEIXEIRA
DUARTE Group employees working in Angola, for the
maximum amount of EUR 25,000.00 (twenty-five thousand
Euros).
Outside the Company and the Group, a number of entities
were once again supported, with the amount of EUR
15,000.00 (fifteen thousand Euros) for social solidarity
purposes, determined upon a proposal made by the
Company’s employees who had personally adhered to those
objectives.
Still regarding this matter, we highlight the payment of EUR
1,000 thousand to reinforce the insurance capital created by
the Company for the purpose of providing pension benefits to
its employees and which, reached, at the end of the year
under review, the amount of EUR 35,207,425.511.
In terms of Safety, Quality and Environment, the external
audit for environmental follow-up and for the renewal of the
Quality and Safety Certificate was successfully performed
and, as planned, the Company took the opportunity to migrate
the Safety Management System to the new OHSAS
18001:2007 standard.
It is following this event and for the referred purpose of
implementing a Social Responsibility Management System
that the Company’s Policy Declaration was updated and
widely disseminated, the general lines of which are
transcribed below:
“Its humane character, associated to the nature of its (…)
origin, is reflected in the expression of TEIXEIRA DUARTE’s
Mission. To act, contributing to build up a better world. It is
through this guiding principle that we can achieve customer
satisfaction, the Company’s reinforcement, for the creation of
new opportunities and thus, also for a better Society.
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