LCC INC. convenes the 11th Extended Management Meeting
Upon the Chairman and CEO invitation the 11th Extended Management Meeting was convened at the Teibisty Hotel, Thursday Sep 26th 2019. The Chairman of the Libyan Joint Cement Manufacturing Company also attended the meeting despite of his busy schedule he made sure to participate and witness firsthand the importance of those meetings as he stated later on. The LCC CEO and Chairman thanked him for his participation on behalf of company.
The scope of the meeting is to open 2-way communication channels between middle and broader management to insure sharing knowledge and information to the entire company which was achieved during the meeting.
The meeting began with welcoming the audience and thanking them for their attendance by the Chairman and CEO and illustrating that the aim from these meetings is to maintain communication channels between divisional management and other departments in LCC, he also gave a brief presentation on the company’s performance during the first half of 2019 and challenges facing the company and areas dereliction. At the end the CEO reminded the attendees of the company’s Mission, Vision, and corporate principles.
Second. The finance department through its General Manager Mr Zaki Badran presented the department structure, as he briefed the audience of 2020 budget and encouraged other divisions to collaborate to finalize the budget by NOV 2019.
The Manager of the Banking and Treasury unit spoke in his unit and the Mechanism of cash management and concluded his presentation by explaining the payments method currently available to import commodities and services from abroad, and the obstacles facing the company in this regards with banks.
The Accounting Manager also participated by speaking on fixed and variable costs of Cement Manufacturing and also mentioning the cost centres of the company.
From budgeting and reporting, Mr Abdelghany Badran presented the procedures and new forms that shall be used for 2020 budget, and the budget timeline.
Whereas the company is in the process of upgrading the Internal Audit Department Mr Mustafa Abu-Arja familiarized the attendants with the new procedures and ways of executing its tasks with regards to other departments.