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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Intertek Group    ITRK   GB0031638363

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SATORP achieves ISO 14001:2015 Certification from Intertek

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10/01/2017 | 08:49pm CEST

ArabFinance: Intertek, a leading Total Quality Assurance provider to industries worldwide, has recently certified Saudi Aramco Total Refining and Petrochemical Company (SATORP), an oil and petrochemical joint venture refinery between Saudi Aramco and TOTAL, as being compliant with the standard requirements of ISO 14001:2015 Environmental Management Systems Certification. This globally-recognised standard was developed by the International Organisation for Standardisation (ISO) and specifies organisations' requirements for establishing, implementing, maintaining and continually improving environmental management systems. Mr. Fawwaz Nawwab, SATORP President and CEO, was awarded the certificate during an official handover ceremony from Mr. Samir Ahmed, General Manager at Intertek Saudi Arabia Business Assurance Division. Also present during the ceremony were Mr. Yves H. Mutschler (Vice-President & CFO), Mr. Mohammad Otaibi (Vice President HR & Support Services), Mr. Asaad A. Rushaid (HSSE Manager), and Mr. Bader A. Al-Dubaikel (SHE Specialist) together with other members of the HSSE team. “Fulfilling the requirements of the internationally-recognised ISO 14001:2015 standard is an important feat for us. We are committed to the highest international environmental standards by delivering optimal results that comply with local environmental regulations and the requirements of our stakeholders,” said Mr. Fawwaz Nawwab during the ceremony. He added, “This important milestone highlights our commitment to leading the oil and petrochemical industry with an outstanding environmental performance.” Mr. Samir Ahmed offered his congratulations to SATORP's senior management team and employees, noting: “By achieving ISO 14001:2015 certification, SATORP has set the bar higher for other oil and petrochemical giants in the region to monitor and minimise their environmental footprint through a management system-based approach.” Increasing scrutiny of the oil and petrochemical industry's effects on the environment has made compliance with ISO 14001 exceedingly important. ISO 14001 certification ensures organisations identify and systematically reduce any potential harmful effects they may cause the environment. Aside from improving an organisation's environmental sustainability by developing processes that lower energy and raw materials use, reduce waste and pollution, and mitigate the risk of emergency situations, certification also enables organisations to become more profitable and efficient. Intertek’s assurance solutions provide confidence and total peace of mind that operating procedures, systems and people are functioning properly to give organisations a competitive advantage in the marketplace. Our extensive auditing, performance benchmarking and supply chain services provide insight into every aspect of operations, allowing you to make informed decisions about your business.

(c) 2017 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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EBIT 2017 449 M
Net income 2017 289 M
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Yield 2017 1,38%
P/E ratio 2017 28,89
P/E ratio 2018 26,13
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Mean consensus HOLD
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Average target price 45,6  GBP
Spread / Average Target -11%
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Managers
NameTitle
André Lacroix Chief Executive Officer & Executive Director
David Edward Reid Chairman
Edward Leigh Chief Financial Officer & Executive Director
Ann-Michele Bowlin Chief Information Officer
Pamela Louise Dame Makin Independent Non-Executive Director
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