Activities

Principles of Operation


In all of its activities LITEX constantly seeks a balance between the process of achieving economic results and the process of continuous improvement of working methods. The Code of Ethics of the LITEX Group determines the basic operating principles of the Company. These principles can be divided into two major categories: organizational and economic.

Organizational

Good organization in each structure is a prerequisite for efficient and smoothest running of the work processes. Organizational principles are observed by all employees of the Company.

The development and social advancement of employees of LITEX is stimulated and encouraged. Parallel to the above the management of LITEX COMMERCE JSC provides understanding and requests the observance of the ethical rules of the Company by all of its employees and affiliates. To ensure the effectiveness of the Code of Ethics several mechanisms for checks and controls have been implemented.

The Corporate Group of LITEX COMMERCE JSC combines companies with different activity and freedom of managerial decisions. However, each Company of the Group is led by the principle to maintain the good name and high reputation of the LITEX brand.

The principles of recognition of differences and consolidation are successfully applied in the management. We provide adequate working conditions and we respect the need of each employee to balance between personal and professional life.

Economic

The economic principles of LITEX are oriented in the spirit of free market and long-term business prospects.

Profitability is a measure of efficiency, which plays a key role in the deployment of corporate resources and maintenance of permanent investments.

Fair competition is also a priority in our work. We recognize that the interests of society can be best achieved in an efficient market economy. We support free enterprise and fair competition.

All investment decisions made by LITEX take into account not only economics but also social and environmental factors. We evaluate the security of all our investments in view of stability and security criteria.

Proper financial reports are made continuously as a control mechanism. A team of highly qualified accountants and finance professionals with a responsible behavior are working with us to ensure fair, accurate and objective reporting and analysis of financial data.

Prohibition on conflict of interest and corruption is also a principle which binds the professional and ethical conduct of employees of LITEX.
 

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