Building better cities publication

%8,/',1*
%(77(5&,7,(6
*5((&(
!"#$%#$&
:("9'5%
3;<=>?;@+6<ABC+AD+!AEC=FG;@H+=+E;EI;<++
AD+5=D=<J;H+G@+6<;;>;K@+?=<J;@L+>;E;FL+
C<AMB>;<N+OGLP+EA<;+LP=F+0,,+Q;=<@+C<;@;F>;+
GF+LP;+E=<R;LH+S;+AC;<=L;+GF+>;E;FLH+
=JJ<;J=L;@+=FM+>AF><;L;+LP<ABJP+=+F;LSA<R++
AD+-T+C<AMB>LGAF+=FM+>AEE;<>G=?+D=>G?GLG;@+
=><A@@+6<;;>;N+O;+C?=>;+GFFAU=LGAF+=L+LP;+
P;=<L+AD+AB<+C<GA<GLG;@H+I<GFJGFJ+LA+LP;+E=<R;L+
MGDD;<;FLG=L;M+C<AMB>L@+=FM+@A?BLGAF@+LP=L+
@;<U;+@B@L=GF=I?;+>AF@L<B>LGAF+=FM+
=<>PGL;>LB<=?+><;=LGUGLQN+
"B<+=EIGLGAF+G@+LA+>AFL<GIBL;+LA+IBG?MGFJ+
I;LL;<+>GLG;@H+SGLP+@A?BLGAF@+LP=L+C<AUGM;+
>GLG;@+SGLP+I;LL;<+PAB@GFJ+=FM+E=R;+LP;E+
EA<;+>AEC=>LH+EA<;+MB<=I?;H+EA<;+I;=BLGDB?+
=FM+I;LL;<+>AFF;>L;MN
'#$(")*!$'"#++
u
,-
u
0/
u
11
u
1-
5494(6%+6("*:+:("9'5%++u
20
!3455%#6%&++
Key issues for cities
by Pierre Deleplanque
"*(+478'$'"#++
Building better cities
"*(+.'&'"#++
u
Innovation
Differentiation
Performance culture
Commitment to
sustainable development
,/
"*(+&"5*$'"#&++
Providing cities
with better housing
and making them
more compact,
more durable,
more connected,
more beautiful
04t5.+%(+,6#5&))&-#7+)+&'
5.+%(+,6#5&))&-#7+)+&'t 05
&(20(66$*(
%8,/',1*%(77(5&,7,(6,6$1$0%,7,21
7+$7(1&203$66(6285())2576
72/($'7+((92/87,2162)2856(&725
$7(9(5</(9(/
q1JFSSF%FMFQMBORVF$IJFG&YFDVUJWF0GGJDFSq
!"# $%&!'&(# )*# +,)-*(./&# )0+'#
$.1%+/!)+*,2# 30+/0# $-&'&,)'# *.-#
4+'+*,# !,(# )0&# -*%&# 3&# 3!,)# )*#
0!4&#+,#5.+%(+,6#5&))&-#7+)+&'8
‘
5.+%(+,6# 1&))&-# /+)+&'# +'# !,# &,6!6+,6#
4+'+*,#9*-#.'#'+,/&#+)#(+-&/)%:#/*,,&/)'#
30!)#3&#(*#&4&-:#(!:#)*#)0&#$*'+)+4&#
&99&/)# )0!)# )0+'# 0!'# *,# )0&# %+4&'# !,(#
3&%%;1&+,6#*9#$&*$%&#!-*.,(#.'<#&4&-:#
(!:# 3&# (&4&%*$# $-*(./)'# !,(#
'*%.)+*,'# )0!)# *99&-# '.$&-+*-# 4!%.&# )*#
*.-# /.')*"&-'# !,(# )*# )0&# /*,')-./;
)+*,'2# $-*4+(+,6# *.-# /+)+&'# 3+)0# 1&))&-#
0*.'+,6# !,(# "!=+,6# )0&"# "*-&#
(.-!1%&2# "*-&# /*"$!/)2# 1&))&-#
/*,,&/)&(#!,(#"*-&#1&!.)+9.%8#
>&# 1&%+&4&# )0!)# )0+'# 4+'+*,# !%'*#
&?$-&''&'# !,# *4&-!%%# !'$+-!)+*,# 9*-#
$-*6-&''# !,(# +"$-*4&"&,)2# '*"&;
)0+,6# )0!)# +'# 4+'+1%&# +,# )0&# /.--&,)#
)-&,('# 9*-# /*,')-./)+*,'# !,(# .-1!,#
(&4&%*$"&,)#+,#@-&&/&8#>0&)0&-#)0+'#
+'# +,9-!')-./).-&# *-# -&(&4&%*$"&,)# *9#
&,)+-&# !-&!'2# !# ,."1&-# *9# +/*,+/#
$-*A&/)'# !-&# +,# $-*6-&''8# B0&:# !-&#
)-!,'9*-"+,6#*.-#/+)+&'2#/-&!)+,6#1&))&-#
.-1!,# &,4+-*,"&,)'2# -+/0# +,# !-/0+)&/;
).-!%#/-&!)+4+):#!,(#)&/0,+/!%#,*4&%):8#
>&#)!=&#$-+(&#+,#)0&#/*,)-+1.)+*,#3&#
0!4&#+,#)0&'&#$-*A&/)'8#C.-#'*%.)+*,'#
0!4&# 0&%$&(# +,# "!=+,6# $*''+1%&# )*#
"!)&-+!%+D&# !"1+)+*.'# !-/0+)&/).-!%#
(&'+6,'# !'# 3&%%# !'# .,+E.&# )&/0,+/!%#
!,(# !&')0&)+/# '$&/+9+/!)+*,'8# >&# !-&#
+,)&,'&%:# /*""+))&(# )*# /*,)+,.&# !,(#
+,/-&!'&# *.-# &99*-)'2# *99&-+,6# *.-#
&?$&-)+'&#!,(#=,*30*3#!,(#3*-=+,6#
/%*'&%:#3+)0#*.-#"!-=&)#*,#+,,*4!)+4&#
'*%.)+*,'# !,(# 0+60&-;$&-9*-"!,/&#
$-*(./)'#)0!)#).-,#1*%(#/*,/&$)'#+,)*#
-&!%+):8
C.-# 4+'+*,# 9*-# 1.+%(+,6# 1&))&-# /+)+&'#
&,/*"$!''&'# *.-# &99*-)'# )*# %&!(# )0&#
&4*%.)+*,'#*9#*.-#'&/)*-#!)#&4&-:#%&4&%#
;# )*# &"1-!/&# +,,*4!)+*,# !'# )0&# =&:#
(-+4&-#*9#(+99&-&,)+!)+*,#!,(#6-*3)0F#)*#
*99&-#'.$&-+*-#4!%.&#)*#*.-#/.')*"&-'F#
)*# +,)&6-!)&# '.')!+,!1+%+):# +,# !%%# *.-#
*$&-!)+*,'# !,(2# .%)+"!)&%:2# )0&#
/*""+)"&,)# *9# *.-# $&*$%&# )*# "!=&#
&4&-:#/*,')-./)+*,#$-*A&/)#!#'.//&''8
@/%$4%,.A@*11*9AB%1%*'t 07
06tLafarge 2013
!"#$%&'()"*$
+,-.
/$)$5*(,1*5((&(
28535(6(1&(
-"$"./'012./
!"#"$%"&'()*'+,)(
-"$"./'3"&$4.21
;<2&&7
5"267894:'012./
6+$5(+2/'(56
3
1
4
!"#"$"
!%$&%'
2
()*''"$+,%&%
!"#"$%"&'()*'+,)(
-.+/0*,%1'"
2+$+'
691"
)= '>2?2&@"'
+='A.B/4/</4C.21'G&""#" (='A.B/4/</4C.21'C/D"&'#C<./&4"B
'
E= A.64F46<21
##$%&
)$*&
'$'&
(&
31)%+1%4"
>*'#+'
611%7"
(03/2<((6
',675,%87,21
5
3
Production and
distribution sites
2
8%9+'
;%$+'
6
4
5#%"
2%+1%"
67)"%"
employees
:"9+'
<"$%
)= '-"./&21'?<.#/4C.B
'
+='-"$"./'K12./B (='3"&$4.21B
'
E= >HIH'J<2&&4"B
L='59M'K12./B
'
N= H@@&"@2/"B'J<2&&4"B
!"
6$/(6
!+'
1
=*9"&$%+
Quarries
Annual supply
spend on
average, 73%
of it in businesses
in Greece
:9*#*?"
P"
)+$'&
'#$,&
%$,&
,$-&
*$'&
'$-&
—
!"# $%&'('&)# '*# +$*,-# ./# $#
0./12&,"3#
'/(,*&3,/&#
%.33'&3,/&# '/# &4,# $",$*#
54,",# 5,# 4$(,# .6,"$2
&'./*7#8,#4$(,#&4,",9.",#$#
*6,%'$0# ",*6./*'+'0'&)# &.5$"-*# &4,#
%.33!/'&',*#$".!/-#.!"#*'&,*7#:.",#
&4$/#;!*&#.!"#/,'14+."*<#&4,)#$",#.!"#
,360.),,#+$*,<#6.&,/&'$0#%0',/&*<#$/-#
'/*6'"$&'./#*.!"%,*#9."#.!"#'36".(,2
3,/&7#
>"'%1)%
=!"#6"'."'&)#'*#&4,#4,$0&4#$/-#*$9,&)#.9#
.!"# ,360.),,*<# $*# 5,00# $*# &4,'"#
6".9,**'./$0#
-,(,0.63,/&7#
>!&#
+,)./-# &4'*<# 5,# +,0',(,# &4$&# .!"#
*!%%,**# 5'00# +,# 1",$&,"# '9# .!"# %."6.2
"$&,# 6.0'%',*# $/-# 6"$%&'%,*# ,/4$/%,#
/.&#./0)#.!"#.5/#%.36,&'&'(,/,**#+!&#
$0*.# &4,# *.%'$0# $/-# ,%./.3'%# %./-'2
&'./*#'/#&4,#%.33!/'&',*#*!"".!/-'/1#
.!"#*'&,*7#
!"#
$%&%!'
10tK.'52'";(K+&&+,(7'&'+)
K.'52'";(K+&&+,(7'&'+)t 11
,1129$7,21
!"#"$%&'()*+,-".',$/*,(!*/%$0-'%(/*
+,1'()*2%(/-.02-'%(*"#"(*+%."*
"33'2'"(-*,(!*/0/-,'(,4$"
/.)&#6+,)('""#$%&'$+("+J(1,#/+))+)(
'"(/+6+"&(6%".-%/&.,'";(&*%&(,+).5&B
EDINOUR(%2!#,%3l•‘šžœ”•—
%"2(KHL!Ll•‘šžœ”•—CEMENT
1,#2./&)( J'&*( +"*%"/+2( 1+,-#,B
6%"/+(/*%,%/&+,')&'/):
,1129$7,9(
9$/8($'',1*&21&5(7(6
‘
!!"#$%&"!' $!(' )*+*$),-' $)*'
.$/")' 0*#*)+' 1")' (*#*0"2&!3'
.$%*)&$0+' $!(' +"04%&"!+' $50*' %"'
)*+2"!('%"'%-*',-$00*!3*+'"1'%-*'
,"!+%)4,%&"!' &!(4+%)6' $!('
*!+4)*' %-$%' ,"!+%)4,%&"!' &+' *#*)'
.")*' *11&,&*!%' $!(' +4+%$&!$50*7' 8*'
$!$069*' %-*' .$):*%' !**(+' %"' (*+&3!'
!*;' +"04%&"!+' $!(' )*+2"!(' %"' %-*+*'
+2*,&1&,'!**(+<',)*$%&!3'#$04*'1")'"4)'
,4+%".*)+' $!(' 3)";%-' 1")' "4)'
54+&!*++7
,1129$7,21,15(6($5&+
!""#$%&'#"( ')( %&( &*+( *+%,&( #-( #.,(
%/&'#"0( ).11#,&+2( 34( #.,( ,+)+%,/*(
%"2(2+$+5#16+"&(-%/'5'&40(&*+(7#."&,4(
8+$+5#16+"&( 9%3:( 9#";( +)&%35')*+2(
'"(<,++/+(=."2+,(&*+("%6+(>?>@A(%)(%(
,+)+%,/*(-%/'5'&40(&*+(7#."&,4(8+$+5#1B
6+"&(9%3(')(2+2'/%&+2(&#(-."2%6+"&%5(
%"2(%115'+2(,+)+%,/*0(3,'";'";(&#;+&*B
+,(,+)+%,/*+,)(%"2(+C1+,'+"/+2()/'+"B
&'-'/()&%--(-,#6($%,'#.)(2')/'15'"+):(D'&*(
)&%&+(#-(&*+(%,&(5%3#,%&#,4(+E.'16+"&0('&(
')( #,;%"'F+2( %,#."2( &*,++( -'+52)G(
7#"/,+&+( %"2( H;;,+;%&+)0( H"%54&'/%5(
/*+6'/%5(5%3(%"2(I%&+,'%5)(I'/,#)&,./B
&.,+0( J*'5+( '&( ')( %6#";( &*+( 6#)&(
%2$%"/+2( >.,#1+%"( 5%3#,%&#,'+)( '"(
/+6+"&( &+)&'";:( @*+( 7#."&,4( 8+$+5#1B
6+"&(9%3(*%2(%(1'$#&%5(,#5+('"(/*%61'B
#"'";0(2+$+5#1'";(%"2(&+)&'";(J'&*(#.,(
M.,( /.)&#6+,)( 2#( "#&( )'6154( 3.4(
1,#2./&)( 3.&( &*+',( 1,#1+,&'+)( %"2(
&*+( 3+"+-'&)( &*+4( ,+1,+)+"&:( M.,(
'""#$%&'$+( /#"/,+&+( %"2( 6#,&%,(
N%5.+BH22+2(1,#2./&()+,'+)0(%'6(&#(
3,'";( &*+( ,';*&( /#"/,+&+( -#,( +%/*(
J#,O)'&+:( @*+)+( %,+( &*+( H;'5'%P:(
H,&+$'%P:( Q5&,%R( S( T42,#6+2'%R(
1,#2./&( ,%";+):( @*+4( %,+( %115'/%B
&'#"B)1+/'-'/0( &%'5#,B6%2+0( "#&( U#"+(
-'&)( %55V( )#5.&'#")0( *+51'";( /,+%&+(
/#)&B+--+/&'$+(%"2(2.,%35+(/#")&,./B
&'#")( J'&*( *';*( %+)&*+&'/)( %"2(
."'E.+(2+)';":
!"#$#%&G( &*+( )+5-B15%/'";0( )+5-B5+$+B
5'";(/#"/,+&+(')(*';*54(-5.'2W()1,+%2)(
+--#,&5+))540( +5'6'"%&'";( &*+( "++2(
-#,($'3,%&'#"(%"2(1,#$'2+)(%"(+C/+1B
&'#"%50(*';*54(+)&*+&'/(-'"')*:(
!'()*#%&0( %( ,%";+( #-( 2+/#,%&'$+(
/#"/,+&+)( -#,( #.&2##,( %"2( '"2##,(
%115'/%&'#"):( H,&+$'%P( /#"/,+&+)(
#--+,( 6%"4( %2$%"&%;+)G( +C/+55+"&(
%2%1&%&'#"( &#( /#615+C( )*%1+)0(
E.'/O( '")&%55%&'#"( %"2( 5#J( 6%'"&+B
"%"/+0(,+)')&%"/+(&#(J+%,(%"2(&+%,0(
/,+%&'$+(-,++2#6(J'&*(%(J'2+(/*#'/+(
#-(/#5#,)(%"2().,-%/+(%11+%,%"/+):
+,-'./)-#%01( %( "+J( ;+"+,%&'#"(
1+,$'#.)(/#"/,+&+:(H3)#,3)(,%'"J%B
&+,(%"2(-%/'5'&%&+)(&*+("%&.,%5(2,%'"B
%;+(#-(&*+()#'50(%55#J'";(&*+(+--'/'+"&(
6%"%;+6+"&( #-( ,%'"J%&+,:( T42,#B
6+2'%( ')( %"( '2+%5( )#5.&'#"( -#,(
#.&2##,( )1%/+)( )./*( %)( 1%,O'";(
5#&)0( 1+2+)&,'%"( %55+4)0( 1%$+6+"&)(
+&/:(H6#";('&)(#&*+,(3+"+-'&)(')(&*+(
+%)+(#-(%115'/%&'#"0('&)(2.,%3'5'&4(%)(
J+55(%)('&)(/#"&,'3.&'#"(&#(,+2./'";(
/#)&)(-#,(-5##2B1,+$+"&'";(-%/'5'&'+):(
2$('%03 4)'#)41( %( ,%";+( #-(
,+%24B6'C+2(
/#"/,+&+)(
%"2(
6#,&%,)( /,+%&+2( &#( )+,$+( %( 3,#%2(
)1+/&,.6(#-("++2)('"(&*+(/#")&,./B
&'#"('"2.)&,4:(@*')(-%6'54(#-(6'C+)(')(
2+)';"+2( &#( ;'$+( /.)&#6+,)(
'"/,+%)+2( 1,#-'&%3'5'&4( &*,#.;*(
'61,#$+2( 1,#2./&'$'&4( %&( X#3)'&+)0(
-,#6( /#")&,./&'#"( #-( %( 3.'52'";( &#(
,#%2(1,#X+/&):
,1129$7,21,1&(0(17
(1+$1&,1*,763(5)250$1&(
&+$5$&7(5,67,&6
5)36%*)37))83(6)39#.8))'43#83(6)3
-#::)')8(#%(#.83.:3;)/)8(39'.-<;(43#83
(6)3='))>3/%'>)(?3@#(63%3-#*)'4#:#)-3
9'.-<;(3'%8")3.:3;)/)8(4?3%--')44A
#8"3(6)3-#::)')8(38))-43(6%(3.<'3
;<4(./)'436%*)3#83-#::)')8(3
%99$#;%(#.84B35)3%')3%"%#83(6)3:#'4(3
(.3#88.*%()3#8;')%4#8"3(6)3')%;(#*#(,3
.:3;$#8>)'3C(6)37%4#;3;./9.8)8(3.:3
;)/)8(D?3.::)'#8"3(.3.<'3/%'>)(3%3
'%8")3.:3)86%8;)-39)':.'/%8;)3
;)/)8(4B3E6'.<"63(6)34)9%'%()3
"'#8-#8"3#88.*%(#.8?3')%$#F)-3#83(6)3
G.$.439$%8(3@#(63(6)34<99.'(3.:3(6)3
E);68#;%$3H)8()'3.:3I%:%'")3%8-3.<'3
J'.-<;(3K)*)$.9/)8(3H)8()'?3(6)3
(%2!#,%3l•‘šžœ”•—AND
"!3)3l•‘šžœ”•—CEMENTS
.::)'3#8;')%4)-34(')8"(63%8-3
@.'>%7#$#(,?3/%>#8"3;.84('<;(#.843
/.')3-<'%7$)?39'.9)'(#)43(6%(3%')3333
.:3')%$3*%$<)3(.3.<'3;<4(./)'4B
12tBuilding Better Cities
Building Better Citiest 13
',))(5(17,$7,21
DIFFERENTIATION HELPING OUR CUSTOMERS
BUILD A SUSTAINABLE COMPETITIVE ADVANTAGE
during the application, while at the
same time we are able to ensure the
quality of the end result and the best
use of our products.
68332572148$/,7<
Our work with our customers does not
finish with the delivery of products. We
assist our customers during the
realization of their projects providing
technical support on quality matters
related to the project specifications. In
addition, through our Country
Development Lab, we offer additional
services to customers in the
construction industry, concerning the
optimization of their concrete mix
designs or performing durability tests
in constructions.
—
ur differentiation in the market
is driven by innovation. We
have developed substantial
technical expertise relating to
cement, aggregates and
concrete, allowing us to
provide customers with technical support
and services that are unique in the
market. Moreover, as a result of this
technical expertise, we have developed a
market offer of differentiated and
added-­value products, covering all
applications in the construction sector,
from public works to decoration.
Beyond product innovation, we have
developed solutions designed for specific
parts of buildings, such as foundations,
floors, walls or facades. They offer
remarkable properties in one or more
areas: cost, durability, strength, insulation,
appearance, ease of application. They
enable our partners – engineering offices
and architects – to incorporate concrete
solutions in the initial phase of their
projects.
1(:62/87,2161(:6(59,&(6
Differentiation also means offering new
services, so we are offering our customers
a turnkey service of both supplying and
applying our concretes. This is the “placing
and finishing” service, in which we not only
supply the concrete, usually flooring
concrete – any type of Artevia®, Ultra™,
Hydromedia™, but also undertake the
placing as well, through specialized
applicators, delivering to the customer a
finished surface. Thus we are able to offer
our customers a one-­point contact for the
entire project and better quality control
(;&(//(1&(,16833/<&+$,1
Managed by high performance
standards, the supply chain plays a
key part in reducing costs and gives us
a
competitive
advantage
for
increasingly demanding customers.
To achieve excellence, we have
designed our operations in logistics
and supply chain incorporating
transport planning and management
software as well as performance
indicators. We have therefore been
able to continuously optimize inbound
and outbound flows and delivery
rotations, avoiding empty return trips,
avoiding waits during loading and
breaks in supply caused by a lack of
trucks, improving the management of
transport providers and ensuring that
road safety standards are respected.
+($/7+6$)(7<$7:25.
Health and Safety are core values at
Lafarge and absolute priority in all our
activities. Our aim is to share the
positive effects of workplace safety
with all our customers, improving
safety in their facilities. We have
therefore developed initiatives to
assist our customers in adopting safe
practices related to the safety of their
installations, such as safe circulation
of pedestrians, safe loading and
unloading, as well as housekeeping
and use of Personal Protective
Equipment by the facility personnel.
These programs are on-­going for our
customers in cement, aggregates and
concrete, led by our sales force.
'(/,9(5,1*48$/,7<
,1%27+6833/<$1'
$33/,&$7,212)&21&5(7(
The construction of the New
Hellenic Shipyard in Perama
was a project where Placing &
Finishing service was used for
the entire shipyard area,
covering approximately 12,000
square meters. Lafarge’s
Ultra Series Aqua Basic was
used for the shipyard’s
industrial floor, in order to
reduce water permeability and
ensure the construction’s
durability and long life.
Besides the placing, Lafarge
delivered through a special-­
ized applicator the finished
surface as well, offering to the
customer a one point contact
for the entire project and
better quality control during
the application.
14tS63013#$(S%''%+(Y3'3%.
S63013#$(S%''%+(Y3'3%.t 15
3(5)250$1&(
&8/785(
!"#$%&'%($()"*+,-$,.!%#+"'.*,$/+.+%&"
&$"'%#,+!)+"$(,"#$.*+&'&'/+%+))
+%.2%-':( )6+( !30"E3( -%&%#'( 20"#'( /".(
+%-%37%1( -%+'3*3-"'3)#( *)+( )30( ;%00(
-%&%#'(2+)16-'3)#4
)*()6+(*6%0(&3H(
')(-)#.3.'()*(0)-"00,(
.)6+-%1(83)&"..(
8,(=>=>
=
!"#$!"%&'()#')*+",-.$&/0
,'1"&2$"%&-.!),),/!'!(("
3+"-#4,-,5,'1")6!"/#*2!"
&7" &2$" .$&82%)(" #'8"
(!$/,%!("#'8"9&$:,'1"&'"
)6!"&.),-,5#),&'"&7"&2$"%&();".*#')".!$7&$0
-#'%!"#'8"&2$"!'),$!"(2..*+"%6#,'<"
5('8&,1*(1(5*<&2676
!"#"$%&%#'( )*( %#%+$,( -).'.( /)01.( '/%(
2)'%#'3"0(*)+(.3$#3*3-"#'(2+)$+%..4(5#%+$,(
"--)6#'.(*)+(/"0*()*()6+(7"+3"80%(-).'("#1(
3.('/%(83$$%.'()*()6+(-).'.4(9)(+%16-%(3':(
)6+("3&(3.(')(3#-+%".%('/%(2+)2)+'3)#()*(
"0'%+#"'37%( *6%0.( '/"'( ;%( 6.%:( .6-/( ".(
+%-,-03#$( +%.316%( "#1( "$+3-60'6+"0(
83)&"..4(<6+('"+$%'.("+%(.68.'3'6'3)#(8,(
=>?(3#(=>@A("#1(B>?(3#(=>=>:(".("$"3#.'(
A?( -6++%#'0,4( 9/3.( 3.( "#( )8C%-'37%( ;/3-/(
*)+&.( 2"+'( )*( )6+( 1+37%( *)+( .6.'"3#"80%(
1%7%0)2&%#'4(
'(9(/23,1*1(:0$5.(7
23325781,7,(6
D%(/"7%(&"1%("(+%0%#'0%..(%**)+'(')()2%#(
62( #%;( &"+E%'.( "#1( #%;( )22)+'6#3'3%.(
*)+()6+(2+)16-'.("#1(.%+73-%.:(#)'()#0,(3#(
F+%%-%:(86'("0.)(3#(3#'%+#"'3)#"0(&"+E%'.:(
;/3-/("--)6#'(*)+("('/3+1()*()6+('6+#)7%+4(
G#( 26+.63#$( .6-/( )22)+'6#3'3%.:( 8%.31%.(
)6+(-03#E%+("#1(-%&%#'(%H2)+'.:(;%(/"7%(
1%7%0)2%1( "( .3$#3*3-"#'( "-'373',( *)+( ."0%.(
)*( .)031( *6%0.4( D%( /"7%( "0.)( 31%#'3*3%1(
)22)+'6#3'3%.( 3#( /3$/0,( .2%-3"03I%1(
2+)16-'.:('"E3#$("17"#'"$%()*()6+(20"#'.(
"..%'.( "#1( '%"&( -)&2%'%#-3%.4( G#( '/"'(
J%;("2203-"'3)#.()*(%H3.'3#$(2+)16-'.(
"+%( "0.)( "+%".( ;%( "+%( %H20)+3#$(
.6--%..*600,4( K6-/( 3.( '/%( %H"&20%( )*(
LMNM( 26&3-%( .')#%:( "( 7)0-"#3-( +)-E(
-)&83#3#$("(0);(1%#.3',(;3'/(7%+,(/3$/(
&%-/"#3-"0( +%.3.'"#-%:( -)&&%+-3"0O
3I%1( 8,( )6+( "**303"'%( -)&2"#,( LMNM4(
!"3#0,( "3&%1( "'( '/%( 2+%*"8+3-"'3)#(
3#16.'+,:( 26&3-%( .')#%( &"E%.( 3'(
2)..380%( ')( &"#6*"-'6+%( 03$/'%+( "#1(
&)+%( 3#.60"'3#$( -)#-+%'%( 80)-E.:(
;/3-/( ;".( 3'.( &"3#( "2203-"'3)#( .3#-%(
+%-%#'0,4( D)+E3#$( -0).%0,( ;3'/( '/%(
L"*"+$%( $+)62( 3#( 31%#'3*,3#$( )22)+'6O
#3'3%.( *)+( .,#%+$3%.( 3#( #%;( 2+)16-'(
1%7%0)2&%#':(LMNM(3.(6.%1(')(&"#6O
*"-'6+%( '/%( 3#.60"'3#$( -)#-+%'%(
9/%+&%13"P:(&"E3#$(*600(8%#%*3'(*+)&(
LMNMQ.( 0);( 1%#.3',( "#1( 3'.( 7%+,( /3$/(
&%-/"#3-"0( +%.3.'"#-%( "#1( 3#.60"'3#$(
2+)2%+'3%.4(
3/$1723(5$7,21$/3(5)25
0$1&(
9/%( )2%+"'3)#"0( 2%+*)+&"#-%( )*( )6+(
20"#'.( 3.( E%,( ')( )6+( 86.3#%..( 2%+*)+O
&"#-%( "#1( )6+( "8303',( ')( 8+3#$( ')(
&"+E%'(#%;(2+)16-'.(*)+()6+(-6.')&O
%+.4( D%( "+%( *)-6.%1( )#( )6+( 20"#'.(
+%03"8303',( "#1( +)86.'( &".'%+,:(
.'%223#$( 62( 2%+*)+&"#-%( '/+)6$/(
'+"3#3#$( "#1( 1%7%0)2&%#'( 2+)$+"&.(
*)+( )6+( 2%)20%( "#1( "2203-"'3)#( )*(
)2%+"'3#$( &)1%0.( 8630'( 62)#( '/%(
%H2%+3%#-%.( )*( L"*"+$%R.( 6#13.26'%1(
8%.'(20"#'.4(S)'/()6+(N)0).("#1(!30"E3(
20"#'.(3&20%&%#'(.6-/("#()2%+"'3)#"0(
&)1%0:( T<!( =4>:( ;/3-/( 1%*3#%.( '/%(
;",(3#(;/3-/("(20"#'('%"&(&6.'(+6#("(
L"*"+$%( 20"#'( 3#( )+1%+( ')( "-/3%7%( '/%(
8%.'( 2%+*)+&"#-%:( &".'%+3#$( "00(
".2%-'.()*(-%&%#'(2+)16-'3)#(U."*%',:(
7)06&%.:( -).'.:( V6"03',:( -6.')&%+R.(
."'3.*"-'3)#W( ');"+1.( )2%+"'3)#"0(
%H-%00%#-%4
'(9(/23,1*2853(23/(
G*( ;%( "+%( ')( 6#1%+.'"#1( &)+%( -0%"+0,(
'/%(#%%1.()*()6+(&"+E%':(.%+73-%()6+(
-6.')&%+.(8%''%+("#1(3##)7"'%(&)+%:(
;%(+%V63+%(#%;(.E300.("#1(-"2"8303'3%.4(
<6+(."0%.('%"&.("+%("#(%..%#'3"0(03#E(
3#( )6+( 7"06%( -/"3#:( "#1( '/%,( "+%(
'+"3#%1( 3#( '/%( &).'( %**3-3%#'( ."0%.(
2+"-'3-%.(')(%#"80%('/%&(')(*3#%O'6#%(
'/%3+( +%.2)#.%( ')( )6+( -6.')&%+.Q(
+%V6%.'.4( 9/%( -)#.'"#'( 1%7%0)2&%#'(
)*( )6+( %&20),%%.( 3.( #)'( -)#*3#%1( ')(
'/%( -)&&%+-3"0( *6#-'3)#.X( 3'( 3.( "0.)(
)--6++3#$("'('/%(/%"+'()*()6+(3#16.'+3"0(
*6#-'3)#.4(S%-"6.%(;%(8%03%7%(;%(-"#(
)#0,(3#-+%".%()6+(-)&2%'3'37%#%..(8,(
+%0,3#$( )#( %**3-3%#'( "#1( -)&&3''%1(
'%"&.( 3#( )6+( 20"#'.:( ;%( /"7%( 26'( "(
#6&8%+( )*( 1%7%0)2&%#'( 2+)$+"&.( 3#(
20"-%( *)+( )6+( &"#"$%+.( "#1( E%,(
)2%+"'3)#"0(2).'.4
$&&(/(5$7,1*285
3(5)250$1&(&8/785(
!"##$%&'&(")$*+,)-./0,'$
-'0/1$&')$.,%*"/"'/$*",*#"$
&')$/"&%1$&+"$2"3$#"4"+1$5,+$
&'$"550.0"'/$&')$0'',4&/04"$
,+(&'06&/0,'$/7&/$80##$7"#*$-1$
9-0#)$,-+$.,%*"/0/04"$&)4&':
/&(";$<701$01$873$8"$*&3$
*&+/0.-#&+$&//"'/0,'$/,$)"4"#,*:
0'($,-+$"%*#,3""1=$120##1$&')$
.&+""+$*&/7>$/7+,-(7$/+&0'0'($
&')$)"4"#,*%"'/$*+,(+&%1;$
!"$*-+1-"$"?."##"'."$0'$,-+$
)&3:/,:)&3$*"+5,+%&'."$5+,%$
&##$,-+$"%*#,3""1$&')$,-+$
0'/"+'&#$*+,(+&%1$&+"$9&1")$
,'$.,%%-'0.&/0,'>$"%*,8"+:
%"'/$,5$,-+$"%*#,3""1$&')$
.,&.70'(>$5,+$1/"**0'($-*$/7"0+$
&./04"$%&'&("%"'/$9"7&40,+1;
16tE/&2%&+4$E#))#'$D&)&#0
E/&2%&+4$E#))#'$D&)&#0t 17
&200,70(1772
6867$,1$%/('(9(/230(17
!"#$%&'()(!*$!+$'"(,-(*.$'/))/#$0()(/1$
/*)%(,1$*!)$!*,2$(&3#!4(*.$)5/$6"%,()2$
!+$,(+/$(*$0()(/17$'")$%,1!$0#/%)(*.$
4%,"/$+!#$/4/#2!*/
&2175,%87,1*720((7,1*7+(
&+$//(1*(62)62&,(7<
K*'$/0$0/0),&+,12#$%#6#2*-5#+)$4*#0$
1#3*+%$)"#$5,+,4#5#+)$*.$'&0F0$,+%$
1#3*+%$ 0&5-23$ (*5-23&+4$ ;&)"$ 0),+%G
,'%0$ ,+%$ 2#4&02,)&*+9$ L#$ /+%#'0),+%$
*/'$'*2#$,0$,$F#3$(*+)'&1/)*'$)*$,()&*+0$
)",)$ 0",-#$ ,$ 5*'#$ 0/0),&+,12#$ ./)/'#$
.*'$)"#$0*(&#)3M$,%%'#00&+4$(",22#+4#0$
0/("$,0$)"#$4'*;&+4$/'1,+&N,)&*+<$)"#$
,6,&2,1&2&)3$ *.$ +,)/',2$ '#0*/'(#0<$
(2&5,)#$(",+4#<$,+%$#+#'43$#..&(&#+(39$
!"#0#$&00/#0$,'#$(*'#$)*$*/'$1/0&+#009$
80$ 2#,%#'$ &+$ */'$ 0#()*'<$ ;#$ ,'#$
(*+)'&1/)&+4$)*$&5-'*6&+4$)"#$O/,2&)3$*.$
2&.#$*.$(*55/+&)&#0$,+%$/'1,+$-*-/2,G
)&*+<$ %#6#2*-&+4$ )"#$ 1/&2%&+4$ 030)#50$
,+%$)"#$&+.',0)'/()/'#$*.$)"#$./)/'#9$
$1$0%,7,28652$'0$3
'#%/()&*+$&+$DC@$$
#5&00&*+0$13$@A@A$
(*5-,'#%$)*$BWWA
—
!"# $"%&!'()# *"+# )%!"'+&,#
-*.!/*'(!"+&,# ("*.)$%"(+&#
0.# *# '1%)+# "*.2+# *.&,# 30(4#
(4+#+5'+$(0%.#%/#%!"#'+-+.(#
+5$%"(),#!)+&#1%'*1167#8+0.2#
$*"(# %/# (4+# '%--!.0(0+)# 0.#
340'4#3+#%$+"*(+,#3+#0.(+.&#(%#$1*6#*.#
*'(09+# "%1+# 0.# '%.("0:!(0.2# (%# *# -%"+#
)!)(*0.*:1+# 3%"1&,# 4+1$0.2# (4+# &+9+1;
%$-+.(#%/#%!"#+-$1%6++)#*.&#(4+#1%'*1#
'%--!.0(0+)# (4*(# )!""%!.&# %!"# )0(+),#
%"# "+&!'0.2# %!"# +.90"%.-+.(*1#
/%%($"0.(# 3401+# '%.)+"90.2# .*(!"*1#
"+)%!"'+)7# <!"# =!)(*0.*:010(6# >-:0;
(0%.)# ?@?@# *"+# %!"# *'(0%.# $1*.# /%"#
-*A0.2# *# .+(# $%)0(09+# '%.("0:!(0%.# (%#
)%'0+(67
$/21*67$1',1*&200,70(17
!"#$%&'#()&*+$,+%$-,(#$*.$*/'$0/0),&+,1&2&)3$
-'*4',5$ ",6#$ 1##+$ %#.&+#%$ 13$ */'$
7/0),&+,1&2&)3$ 851&)&*+09$ !"#3$ (*5-'&0#$
*1:#()&6#0$ ,+%$ ),'4#)0$ )",)$ ;#$ 0#)$ ,)$
-#'&*%&($ &+)#'6,20<$ (*6#'&+4$ ,22$ ,0-#()0$ *.$
0/0),&+,1&2&)3$ ,+%$ ,'#$ ,2&4+#%$ ;&)"$ )"#$
42*1,2$ 7/0),&+,1&2&)3$ 851&)&*+0$ *.$ )"#$
=,.,'4#$>'*/-9$?+$@AB@$;#$(*5-2#)#%$*/'$
.&'0)$ 7/0),&+,1&2&)3$ 851&)&*+0$ -'*4',5$
0#))&+4$ -#'.*'5,+(#$ ),'4#)0$ &+$ 0*(&,2<$
5,+,4#5#+)$ ,+%$ #+6&'*+5#+)$ &00/#09$
C/'$D*%#$*.$E/0&+#00$D*+%/()$'#.2#()0$*/'$
6,2/#0$,+%$-'&+(&-2#0$,+%$)"#$-*2&(&#0$;#$
",6#$ &+$ -2,(#$ .*'$ &5-2#5#+)&+4$ */'$
0/0),&+,1&2&)3$(*55&)5#+)9$!"#0#$-*2&(&#0$
,+%$,()&*+0$,20*$'#.2#()$)"#$BA$F#3$-'&+(&G
-2#0$ *.$ )"#$ HI$ >2*1,2$ D*5-,()$ )*$ ;"&("$
;#$,'#$0&4+,)*'&#0$0&+(#$@AAJ9
C/'$ 7/0),&+,1&2&)3$ 851&)&*+0$ @A@A$ ,'#$
*'4,+&N#%$ ,'*/+%$ )"'##$ 5,&+$ -&22,'0M$
E/&2%&+4$
(*55/+&)&#0<$
E/&2%&+4$
0/0),&+,123$ ,+%$ E/&2%&+4$ )"#$ (&'(/2,'$
#(*+*539$ !"#0#$ ),'4#)0$ '#.2#()$ */'$
&+)#4',)#%$ ,--'*,("$ )*$ 0/0),&+,1&2&)3$
&00/#0$ )"'*/4"*/)$ */'$ 6,2/#$ (",&+$ G$
5&+&5&N&+4$*/'$.**)-'&+)$/-0)'#,5$,+%$
-'*6&%&+4$ */'$ 5,'F#)$ ;&)"$ &++*6,)&6#$
0*2/)&*+0$%*;+0)'#,5<$)*$(*+)'&1/)#$)*$
5*'#$ 0/0),&+,12#<$ 2&6,12#$ )*;+0$ ,+%$
(&)&#09$
%8,/',1*&20081,7,(6
L#$ ,'#$ (*55&))#%$ )*$ 0/--*')&+4$ )"#$
0*(&,2$,+%$#(*+*5&($%#6#2*-5#+)$*.$)"#$
,'#,0$ &+$ ;"&("$ ;#$ *-#',)#9$ L#$ ,'#$
(*55&))#%$&+$5#,0/'&+4$*/'$0*(&*G#(*G
+*5&($ .**)-'&+)<$ -,')&(/2,'23$ )"#$ 6,2/#$
('#,)#%$13$*/'$,()&6&)&#0$&+$,+%$,'*/+%$
*/'$.,(&2&)&#0$,+%$-'*%/()&*+$0&)#0$,+%$)*$
(*+)'&1/)#$ ,$ -#'(#+),4#$ *.$ */'$ )*),2$
0,2#0$ &+$ (*'-*',)#$ 0*(&,2$ '#0-*+0&1&2&)3$
-'*4',50$ 2*(,2239$ !"#0#$ -'*4',50<$
(*+0&0)#+)$ )*$ */'$ 6,2/#0$ ,+%$ 0)',)#43<$
,'#$ -'&+(&-,223$ '#2,)#%$ )*$ 2*(,2$ :*1$
('#,)&*+$ )"'*/4"$ #+)'#-'#+#/'0"&-$
-'*4',50<$ (*+)'&1/)&*+0$ .*'$ )"#$
&5-'*6#5#+)$*.$2*(,2$&+.',0)'/()/'#0$,0$
;#22$,0$#%/(,)&*+,2$-'*4',50$&+$0("**20$
'#2,)#%$ )*$ "#,2)"$ ,+%$ 0,.#)3$ *'$ )"#$
#+6&'*+5#+)9$
%8,/',1*6867$,1$%/<
P##)&+4$)"#$(",22#+4#0$*.$/'1,+&N,)&*+$
&0$ ,)$ )"#$ "#,')$ *.$ */'$ ,51&)&*+9$ !*$ %*$
)"&0<$;#$0##F$0*2/)&*+0$)",)$;&22$-'*6&%#$
,$ 1#))#'$ O/,2&)3$ *.$ 2&.#$ ;"&2#$ 0)&22$
(*+0#'6&+4$ '#0*/'(#09$ C/'$ "&4"$
REACTIVITY (%2!#,%3l •‘šžœ”•—
AND "!3)3l •‘šžœ”•— CEMENTS
;&)"$2*;#'$(,'1*+$.**)-'&+)<$,0$;#22$,0$
*/'$ Q3%'*5#%&,R$ -#'6&*/0$ (*+('#)#$
,'#$:/0)$0*5#$*.$*/'$"&4"$6,2/#G,%%#%$
&++*6,)&*+0$ .*'$ */'$ (/0)*5#'0$ ,+%$
#+%G/0#'0$*.$*/'$-'*%/()09
%8,/',1*7+(&,5&8/$5
(&2120<
!"#$)"&'%$-&22,'$*.$*/'$-'*4',5<$1/&2%&+4$
,$(&'(/2,'$#(*+*53<$5#,+0$'#0-*+0&12#$
&+%/0)'&,2$ %#6#2*-5#+)9$ ?+$ )"#$ .&'0)$
-2,(#<$ )"&0$ #+),&20$ (*+0#'6&+4$ */'$
-2,+#)S0$ 2&5&)#%$ ',;$ 5,)#'&,20$ 13$
'#/0&+4$ '#0*/'(#0M$ */'$ ),'4#)$ &0$ )*$
'#,("$,$2#6#2$*.$@AT$*.$,2)#'+,)&6#$./#20$
13$ @ABU$ ,+%$ VAT$ 13$ @A@A9$ 80$ ;#22$ ,0$
'#%/(&+4$ */'$ #+6&'*+5#+),2$ .**)-'&+)<$
)"&0$ -*2&(3$ #+,12#0$ /0$ )*$ 4#+#',)#$
#(*+*5&($ ,()&6&)3$ )",)$ &0$ 1#+#.&(&,2$ .*'$
2*(,2$ #(*+*5&#0$ ,+%$ ,20*$ "#2-0$ )*$
&5-'*6#$ )"#$ (*5-#)&)&6#+#00$ *.$ */'$
-2,+)09$L#$,'#$;*'F&+4$*+$'#%/(&+4$*/'$
(,'1*+$ #5&00&*+0<$ */'$ ;,)#'$ .**)-'&+)$
,+%$ ;#$ ",6#$ -/)$ &+$ -2,(#$ 1&*%&6#'0&)3$
-'#0#'6,)&*+$-2,+0$&+$*/'$O/,''&#09$
$1$0%,7,286$3352$&+
72+($/7+$1'6$)(7<
!"#$%&%'()*)+*,-)*'&).-*/0.1)
2#"3%'()-'$%"#'4-'0),#")#5")
-46/#1--+)*'&)7#'0"*70#"+)%+)*')
*8+#/50-)6"%#"%01)+.*"-&)81)
-$-"1#'-9):0)%+)8*+-&)#')*),-2)3-1)
6"%'7%6/-+;)"%+3)4*'*(-4-'0)#')*)
&*%/1)8*+%+<)*77#5'0*8%/%01),"#4)-*7.)
-46/#1--),#").%+)#").-")+*,-01<)*'&)
-=-46/*"1)8-.*$%#")0."#5(.#50)#5")
#"(*'%>*0%#'9)?-*")81)1-*"<)2-)
7#'0%'5-)0#)4*3-)6"#("-++)0#2*"&+)
#5")0*"(-0)#,)@>-"#)*77%&-'0+A)*'&)
#5")(#*/)%+)0#)8-)*73'#2/-&(-&)*+)
#'-)#,)0.-)+*,-+0)7#46*'%-+9)B5")
"-7#"&-&)6-",#"4*'7-)%+)#')0"*73)0#)
4--0)0.%+)*48%0%#'<)2%0.)*)/#+0C0%4-)
%'D5"1),"-E5-'71)"*0-)#,)F9GH),#")
-46/#1--+)*'&)7#'0"*70#"+)%')IFJK9)
L.%+)-,,#"0)6#++%8/1)650+)5+)*0)0.-)
/-*&)#,)0.-)%'&5+0"%*/)+-70#")%')
M"--7-<)1-0)2-)8-/%-$-)0.*0)0.%+)%+)
0.-)"-*+#')0#)0"1).*"&-"<)+#)*+)0#)
.*$-)+5+0*%'-&)"-+5/0+)#$-")0%4-9
18t!"#$%#&'(!)**)+(,#*#)-
85%$1,=$7,21
!"#$%&%'#()*#+,-.*(/0#+1+2,-(31.#43,,#5*#16*7#8#53,,31.9#:)30#
;*<1=7-+)3>#*?+,1031.#43,,#-@@*>(#+73<-73,"#()*#>3(3*0'#-0#()*#7-+3;#
+1+2,-(31.#=714()#30#*?+*>(*;#(1#1>>27#-,<10(#*?>,2036*,"#3.#275-.#
-7*-09#A273.=#()*#.*?(#@36*#;*>-;*0#3(#30#*0(3<-(*;#()-(#>3(3*0#43,,#)-6*#
-512(#$#53,,31.#.*4#3.)-53(-.(09#B.#C7**>*'#DE9FG#1@#()*#+1+2,-(31.#
,36*0#3.#-.#275-.#*.6371.<*.(9#!"#$%H%#()30#@3=27*#30#*0(3<-(*;#(1#
7*->)#D8G#1@#()*#>12.(7"/0#3.)-53(-.(09
!"#$%#&'(!)**)+(,#*#)-t 19
:)*#523,(#*.6371.<*.(#30#()*7*@17*#-(#()*#)*-7(#
1@#<-."#01>3-,#-.;#*.6371.<*.(-,#>)-,,*.=*0#
7*,-(*;#(1#)*-,()#-.;#I2-,3("#1@#,3@*'#>,3<-(*#
>)-.=*'#*.*7="#*@@3>3*.>"#1@#523,;3.=0'#
<-.-=*<*.(#1@#4-0(*#-.;#>1.02<+(31.#1@#
.-(27-,#7*0127>*09#B.#()*#5-((,*#-=-3.0(#>,3<-(*#
>)-.=*'#>3(3*0#1@#()*#@2(27*#43,,#)-6*#(1#,3<3(#
()*37#*.*7="#>1.02<+(31.#-.;#()*37#
=7**.)120*#=-0#*<30031.09
:)*0*#3002*0#<-J*#275-.3K-(31.#1.*#1@#()*#
=7*-(*0(#>)-,,*.=*0#1@#()*#$E0(#>*.(27"#@17#()*#
>1.0(72>(31.#0*>(17#-.;#()*"#-7*#-(#()*#)*-7(#1@#
127#5203.*009#L*#417J#(1#*.027*#020(-3.-5,*#
02++,"#1@#7-4#<-(*73-,0#@17#127#+71>*00*0#-.;#
(1#;*6*,1+#<17*#*>1M*@@3>3*.(#-.;#>10(M*@@*>(36*#
+71;2>(0#-.;#01,2(31.0#@17#127#>20(1<*70#-.;#
>1.(7352(*#(1#<17*#020(-3.-5,*'#,36-5,*#(14.0#
-.;#>3(3*09
Buildings
account for
40%
80%
of global energy consumption,
of which is during
the usage phase
65%
+50%
more journeys in cities
by 2025 compared
with 2005
20%
της παγκόσµιας
τηςthe
ενεργειακής
of
energy consumption
κατανάλωσης
των
of
a building is
dueκτιρίων
αναλογεί
to
heatingστη θέρµανση
of worldwide electricity
παραγωγής is
ηλεκτρικής
production
generated
ενέργειας
παράγεται
by
renewable
energy
από ανανεώσιµες πηγές
2
%8,/',1*
%(77(5&,7,(6
2XUDPELWLRQLVWRFRQWULEXWHWREHWWHUFLWLHV
E\RIIHULQJVROXWLRQVZKLFKSOD\WKHLUSDUWLQ
SURYLGLQJFLWLHVZLWKEHWWHUKRXVLQJ
PDNLQJWKHPPRUHFRPSDFWPRUHGXUDEOH
PRUHEHDXWLIXODQGEHWWHUFRQQHFWHG
,QDZRUGEHWWHUFLWLHV
62/87,216720$.(
&,7,(6025(&203$&7
62/87,21672*,9(
&,7,(6%(77(5+286,1*
62/87,216720$.(
&,7,(6025(%($87,)8/
62/87,216720$.(
&,7,(6%(77(5&211(&7('
C542+4$&%C,)),!%G4)4,.t 27
26tC542+4$&%C,)),!%G4)4,.
62/87,216720$.(
&,7,(6%(77(5&211(&7('
3
62/87,216
7RFRQWULEXWHWRPDNHFLWLHVPRUHFRPSDFW
PRUHGXUDEOHPRUHEHDXWLIXOEHWWHUFRQQHFWHG
DQGZLWKEHWWHUKRXVLQJZHGHYHORSLQQRYDWLYH
VROXWLRQVPDNLQJFRQVWUXFWLRQHDVLHUIURPWKH
VPDOOHVWZRUNVLWHWRWKHPRVWRXWVWDQGLQJ
LQIUDVWUXFWXUHDQGDUFKLWHFWXUDOSURMHFW
2XUYDOXHDGGHGSURGXFWVLQFHPHQWFRQFUHWH
DQGDJJUHJDWHVDVZHOODVWKHEXLOGLQJV\VWHPV
ZHGHYLVHZLWKDUFKLWHFWVGHVLJQHUVDQGRXU
FXVWRPHUVDOODORQJWKHFRQVWUXFWLRQFKDLQKHOS
LPSURYHWKHXUEDQHQYLURQPHQWDQGWKHTXDOLW\
RIOLIHLQWKHFLWLHVRIWRGD\DQGWRPRUURZ
/$5*(6&$/(352-(&76
!
!"#$% &!'()*% +,-#$+.%
)*#)% )!#$./'!)% .0.),-.%
#!,% 1#/#"2,% '3% -,,)4$&%
)*,% 1*#22,$&,% '3% ,$.5!6
4$&% -'"424)0% "')*% (4)*4$% #$+%
",)(,,$%14)4,.7%#$%,..,$)4#2%3#1)'!%
3'!% 85#24)0% '3% 243,% #$+% ,1'$'-41%
94)#24)0:
;*,)*,!%3'!%"!4+&,.%#$+%)5$$,2.7%
*4&*(#0.% #$+% !#42(#0.7% #4!/'!).%
#$+% .)#)4'$.7% '5!% 1'$.)!51)4'$%
.'25)4'$.%#!,%5.,+%3'!%-'.)%)!#$.6
/'!)% 4$3!#.)!51)5!,.% 1'$)!4"5)4$&%
)'% -'!,% 1'$$,1),+% 14)4,.% #$+%
*,2/4$&% )*,% 32'(% '3% )!#3341% #$+%
/,'/2,:% <*!'5&*'5)% =!,,1,7% (,%
.5//20% .'25)4'$.% )*#)% #!,% 5.,+% )'%
"542+% .'24+7% .5.)#4$#"2,% #$+%
,#.06)'6-#4$)#4$% 4$3!#.)!51)5!,:%
>5!% 1,-,$)7% #&&!,&#),.% #$+%
1'$1!,),% *,2/% -#?,% @)*,$.% #$+%
')*,!%=!,,?%14)4,.%",)),!%1'$$,1)6
,+A% )*,0% #!,% 5.,+% )'% "542+% )*,%
1'5$)!0B.% 4$3!#.)!51)5!,% )*#)%
?,,/.% /,'/2,% -'94$&% #$+% *,2/.%
4$*#"4)#$).%.#9,%)4-,%,9,!0%+#0:
C542+4$&%-#),!4#2.%#$+%1'$.)!516
)4'$%),1*$485,.%*#9,%#%?,0%!'2,%)'%
/2#0% 4$% -#D'!% )!#$./'!)% 4$3!#6
.)!51)5!,%.51*%#.%)!#-%#$+%-,)!'%
24$,.7% !'#+.7% "!4+&,.7% )5$$,2.7%
/'!).7% .)#)4'$.% #$+% #4!/'!).7%
",1#5.,% )*,0% !,854!,% )')#220%
!,24#"2,% &5#!#$),,.% (4)*% !,&#!+%
)'%.'24+4)07%+5!#"424)0%#$+%.#3,)0:%
!"#$%&'()%)*!)(+',(%
!,%-'"#).+%
!/0%1234%5670%0810796:7%1:%
-6230;9%67<:5<09%1/0%0810796:7%
:=%1/0%0869167>%5670%=2:4%(0:%
?3562:%1:%1/0%@:21%:=%-6230;9A%
!/0%2:;10%:=%BAC%D4%E655%@399%
1/2:;>/%1/0%F61G%F07102%:=%
-6230;9A%'1%67F5;H09%90<07%70E%
91:@9%37H%69%09164310H%1:%I0%
123<0550H%IG%CJ%1:%CK%46556:7%
@39907>029%377;355GA%L0%
@2:<6H0%F:7F2010%1:%1/69%
@2:M0F1N%E/6F/%35:7>96H0%E61/%
1/0%#1/079%$012:%&670%B%
0810796:7%E655%43D0%-6230;9%3%
I01102%F:770F10H%F61GA
;,%'33,!%./,14#2%)0/,.%'3%1,-,$)%
#$+% 1'$1!,),.% )'% !,./'$+% )'%
)*,.,% !,854!,-,$).% #$+% #2.'%
#&&!,&#),.7% (*41*% #!,% #% -#D'!%
/#!)%'3%4$3!#.)!51)5!,%/!'D,1).7%4$%
!'#+% 1'$.)!51)4'$% 3'!% ,E#-/2,7%
(*41*% 1#22.% 3'!% +433,!,$)% #&&!,6
&#),.%F%4$%),!-.%'3%85#24)07%.*#/,%
#$+%&!#+4$&%F%3'!%,#1*%2#0,!:
28t!"#$%#&'(!)**)+(,#*#)-
!"#$%#&'(!)**)+(,#*#)-t 29
$77,.,2'26
%&&-E-$J;+(:$7$96+(#;$4+&+*07=$+3$DQ$E4$
-($&"#$*-'A$*+7;$+3$&"#$A*#7&#*$
4#&*+5+6-&7'$7*#7$+3$%&"#'($9+''#9&-'A$
7($0#66$&"#$975-&76$0-&"$&"#$'7&-+'76$
"-A"07=$(=(&#4B$%&&-E-$J;+($"7($2##'$7$
5*+8#9&$+3$A*#7&$(-A'-3-97'9#$3+*$&"#$
4+2-6-&=$0-&"-'$&"#$4#&*+5+6-&7'$7*#7:$
#7(-'A$&"#$&*7'(5+*&7&-+'$7';$72(+*2-'A$
7$2-A$57*&$+3$&"#$9-&=S($&*733-9$9+'A#(&-+'B$
H#$9+'&*-21&#;$-'$&"#$9+'(&*19&-+'$+3$
&"-($5*+8#9&$0-&"$9#4#'&$7';$9+'9*#&#B
67</,'$%<3$66
F7*&$+3$&"#$%&"#'($M$!"#((76+'-E-$N7&-+'76$4+&+*07=:$
&"#$?@$E4$6+'A$O&=6-;7$2=M57(($-($7$478+*$57*&$+3$&"#$
*+7;$-'3*7(&*19&1*#:$'+&$81(&$3+*$&"#$7;<7'9#4#'&$+3$
&"#$N7&-+'76$4+&+*07=:$21&$76(+$3+*$&"#$(73#&=$-'$*+7;$
&*7'(5+*&7&-+'B$H-&"$&"#$O&=6-;7$2=M57((:$)76-7E+($
7*#7:$+'#$+3$&"#$"-A"#(&$*-(E$7*#7($-'$P*##9#$3+*$&*733-9$
799-;#'&(:$2#9+4#($7$96+(#;$4+&+*07=B$H#$"7<#$2##'$
(1556=-'A$9+'9*#&#$3+*$&"-($5*+8#9&:$0"-9"$-($#/5#9&#;$
&+$2#$9+456#&#;$-'$?@>QB$$$
0$&('21,$$,53257581:$<(;7(17,21
!"#((76+'-E-$G'&#*'7&-+'76$%-*5+*&$X)79#;+'-7Y$-($&"#$47-'$
7-*5+*&$+3$N+*&"#*'$P*##9#$7';$(#*<#($&"#$9-&=$+3$!"#((76+'-E-$
Z&"#$(#9+';M67*A#(&$9-&=$-'$P*##9#[:$&"#$5+5167*$&+1*-(&$
;#(&-'7&-+'$+3$\"76E-;-E-$7';$&"#$'#-A"2+1*-'A$9-&-#($+3$&"#$
*#A-+'B$G'$+*;#*$&+$766+0$3+*$&"#$&7E#M+33$7';$67';-'A$+3$67*A#*$
7-*9*73&:$7$5*+8#9&$+3$#/&#';-'A$&"#$*1'07=$+3$&"#$7-*5+*&$2=$
>:>Q@4$-($91**#'&6=$1';#*$9+'(&*19&-+':$*#(16&-'A$-'$7$*1'07=$
&"7&$0-66$"7<#$7$&+&76$6#'A&"$+3$.:]]@4B$H#$9+'&*-21&#$&+$&"#$
9+'(&*19&-+'$+3$&"-($478+*$5*+8#9&$2=$(1556=-'A$&"#$9+'9*#&#$
7';$7AA*#A7&#($&"7&$7*#$1(#;$7($(12M27(#$3+*$&"#$(&*-5$+3$67';$
3+*$&"#$'#0$*1'07=B
'28%/(75$&.+,*+63(('5$,/:$<
7,7+25($±/,$12./$',±'202.26
!"#$'#0$T+126#M!*79E$U-A"MO5##;$L7-607=$
!-&"+*#7$V$,-7'+E67;-$V$T+4+E+($-($7$'#0$
;+126#M&*79E$6-'#:$>@D$E4$6+'A:$*#5679-'A$&"#$
4+1'&7-'+1($*+1A"$(#9&-+'$+3$&"#$#/-(&-'A$
(-'A6#M&*79E$6-'#B$!"#$5*+8#9&$-'961;#($&"#$
9+'(&*19&-+'$+3$&0-'M&12#$(-'A6#M&*79E$&1''#6($
9*+((-'A$&"*+1A"$I766-;*+4+$7';$J&"*=($
4+1'&7-'(:$7($0#66$7($(#<#*76$*7-607=$2*-;A#(B$!"#$
'#0$76-A'4#'&$-($;#(-A'#;$3+*$&*7-'$(5##;($+3$
>D@M?@@$E4W"B$!"#$5*+8#9&$-($#/5#9&#;$&+$*#;19#$
&*7<#6$&-4#$2#&0##'$%&"#'($7';$!"#((76+'-E-$&+$.BQ$
"+1*(B$)+*#+<#*:$7($57*&$+3$&"#$F7&*7($V$%&"#'($V$
!"#((76+'-E-$*7-6$9+**-;+*:$-&$0-66$9+'&*-21&#$&+$&"#$
&*7'(MK1*+5#7'$&*7'(5+*&$'#&0+*E($9+'&-'1-&=B$H#$
"7<#$2##'$(1556=-'A$9#4#'&$3+*$&"#$5*+8#9&:$0"-9"$
-($#/5#9&#;$&+$2#$9+456#&#;$-'$?@>QB
$7+(160(752/,1((;7(17,21
723,5$(86
!"#$%&"#'($)#&*+$,-'#$.$#/&#'(-+'$&+$&"#$0#(&#*'$
(121*2($+3$&"#$4#&*+5+6-&7'$7*#7$-($7$478+*$
-'3*7(&*19&1*#$5*+8#9&:$#/5#9&#;$&+$(#*<#$755*+/-47&#6=$
>.?:@@@$57((#'A#*($+'$7$;7-6=$27(-(B$%$6-'#$CBD$E4$6+'A:$
-'961;#($D$'#0$(&7&-+'($7';$&#*4-'7&#($-'$&"#$7*#7$+3$
&"#$5+*&$+3$F-*7#1(:$47E-'A$&"1($5+((-26#$&"#$9+''#9&-+'$
+3$F-*7#1($5+*&$0-&"$&"#$%&"#'($G'&#*'7&-+'76$%-*5+*&B$H#$
7*#$9+'&*-21&-'A$&+$&"#$)#&*+$,-'#$.$#/&#'(-+':$+33#*-'A$
9+'9*#&#$3+*$&"#$9+'(&*19&-+'$+3$(#<#*76$(&7&-+'(:$+'#$+3$
0"-9"$-($I+*=;766+($(&7&-+':$0"#*#$0+*E($7*#$
5*+A*#((-'A$*75-;6=B$%$E#=$57*74#&#*$3+*$+1*$(#6#9&-+'$
3+*$&"#$5*+8#9&$07($&"#$(199#((316$9#*&-3-97&-+'$+3$
21-6;-'A$47&#*-76($1(#;:$9#4#'&$7';$9+'9*#&#:$7($5#*$
&"#$%!!GIJ$)K!LJ$(5#9-3-97&-+'(B
7+(66$/21,.,:(67(51,17(51$/
3(5,3+(5$/52$'
!"*##$478+*$0+*E($7*#$1';#*07=:$0"-9"$0-66$&*7'(3+*4$
&"#$!"#((76+'-E-$H#(&#*'$G'&#*'76$F#*-5"#*76$L+7;$-'&+$7$
96+(#;$4+&+*07=B$!"-($-'3*7(&*19&1*#$5*+8#9&$-'961;#($
&"#$9+'(&*19&-+'$+3$(-/$'#0$-'&#*9"7'A#($-'$7$RE4$6+'A$
57*&$+3$&"#$*+7;B$!"-($5*+8#9&$-($#/5#9&#;$&+$-45*+<#$
(-A'-3-97'&6=$&*7'(5+*&7&-+'$-'$!"#((76+'-E-:$-'$&#*4($+3$
&-4#$7';$&*733-9$9+';-&-+'(:$9+''#9&-+'$0-&"$&"#$9-&=S($
7-*5+*&$7($0#66$7($*+7;$(73#&=B$H#$"7<#$2##'$(1556=-'A$
9+'9*#&#$3+*$&"-($5*+8#9&$&"7&$-($#/5#9&#;$&+$2#$9+456#&#;$
7&$&"#$#';$+3$?@>QB
30t!"#$%#&'(!)**)+(,#*#)-
!"#$%#&'(!)**)+(,#*#)-t 31
$3$570(17%8,/',1*6
,17+(50,(;7(17,21
62/87,21672*,9(
YE:BA8I1&7C8978AJC&:;L&J5@?568&
:67&G7I&67VEA67@7;8C&?56&
:K:68@7;8&FEABLA;MCN&";&897&
%97CC:B5;AGA&CEFE6F&5?&%976@A1&
<U&GAB5@7876C&?65@&897&JA8I1&89AC&
AC&7DAL7;8&A;&897&J5@KB7Z&5?&
?5E6&:K:68@7;8&FEABLA;MC&89:8&
9:D7&F77;&PEC8&L7BAD767L&85&897&
67CAL7;8CN&[7&9:D7&K65DAL7L&
J5;J6787&?56&897&7;8A67&
C86EJ8E67&:C&H7BB&:C&L7J56:8AD7&
J5;J6787&?65@&5E6&#687DA:W&
C76A7C&?56&897&7Z876A56&?B556C&
:;L&K:CC:M7&:67:CN
&,7,(6%(77(5+286,1*
.+(&)/0.1)+-(*.(*2)(0#*#)-(
3-( /)$$( 3-( *2.-)( *23*(
3$+)3%4($#5)(*2)+)6(*2)(*.7(
7+#.+#*4( #-( 2."-#&'8( 9)(
*3:)( #&*.( 300."&*( *2)(
023$$)&')( .;( 2."-#&'6( <4( .;;)+#&'(
0)1)&*( 3&%( 0.&0+)*)( -.$"*#.&-6(
3$.&'(/#*2(#&&.53*#5)(-)+5#0)-(*23*(
2)$7()5)+4.&)()&=.4(3(2.1)("&%)+(
*2)(<)-*(7.--#<$)(0.&%#*#.&-(#&(."+(
0#*#)-8
D2)( E$*+3FG)+#)-( #-( 3( +3&')( .;(
1#?)-( %)-#'&)%( *.( #17+.5)(
7+.%"0*#5#*4( 3&%( );;#0#)&04( .;(
7+.=)0*-( *23*( +)B"#+)( 2#'2)+(
-*+)&'*26( /3*)+7+..;#&'( .+( 2#'2(
;$"#%#*4(3&%(/.+:3<#$#*48(
!
>"+( .;;)+( .;( 0)1)&*( 3&%( 0.&0+)*)(
-.$"*#.&-(03&(<)("-)%(*.(<"#$%(&)/(
2.1)-( 3&%( +)-*.+)( )?#-*#&'( .&)-6(
/#*2(-"7)+#.+(3)-*2)*#06(;3-*)+(3&%(
1.+)()0.&.1#03$$48
+,*+$(67+(7,&
$1''85$%,/,7<
@(+3&')(.;(+)3%4A1#?)%(0.&0+)*)-(
.;;)+( "&#B")( -.$"*#.&-( ;.+( )5)+4(
-7)0#;#0(&))%(3*()5)+4(-*3')(#&(*2)(
0.&-*+"0*#.&(.;(3(<"#$%#&'6(/2)*2)+(
*2#-(#-(3(-#&'$)(2."-)(.+(3(1"$*#-*.A
+4( <"#$%#&'8( C+.1( ;."&%3*#.&-( *.(
#&*)+&3$(/3$$-(3&%(;$..+-(3&%()?*)+A
&3$( ;$..+-6( *2)-)( -.$"*#.&-( .;;)+(
);;#0#)&04( #&( 377$#03*#.&6( %"+3<#$#*4(
3&%(B"3$#*4(;#&#-28(
!"#$#%#&'()*"+&,-(."/01&
%,2..#*-/"3"&
4567&89:;&<=>&?:@ABA7C&A;&!A:D:8:1&
:&CEFE6F&5?&%97CC:B5;AGA1&HABB&
9:D7&:&;7H&95@7&A;&:&;7HBI&FEAB8&
J5@K5E;L1&H9AJ9&A;JBEL7C&
:K:68@7;8&FEABLA;MC&:;L&5K7;&
CK:J7C&?56&67J67:8A5;N&O56&89AC&
KEFBAJ&95ECA;M&K65P7J81&J5@KB787L&
A;&Q><R1&H7&9:D7&J5;86AFE87L&F589&
85&897&J5;C86EJ8A5;&5?&897&<>&
:K:68@7;8&FEABLA;MC&:;L&85&897&
B:;LCJ:KA;M&5?&897&5K7;&CK:J7C&A;&
897&J5@K5E;L&S&:&858:B&CE6?:J7&5?&
TNU>>&CVE:67&@7876CN&%97671&5E6&
#687DA:W&C8:@K7L&J5;J6787&H:C&
EC7L&?56&897&CE6?:J7&5?&897&
K:6GA;M&:67:C1&:KKBAJ:8A5;&H9AJ9&
H:C&@:L7&8965EM9&5E6&'B:JA;M&X&
OA;AC9A;M&5??761&L7BAD76A;M&:&
?A;AC97L&CE6?:J7&5?&9AM9&VE:BA8I&
:;L&LE6:FABA8IN
@HC@!H>I›”6(3($#'2*/)#'2*(0.&-*+"0A
*#.&( 13*)+#3$( .;;)+-( -"7)+#.+( 2)3*(
#&-"$3*#.&(%")(*.(#*-(7.+."-(0.17.A
-#*#.&( 3&%( -#'&#;#03&*( )0.&.1#)-(
*2)+);.+)( #&( *2)( #&#*#3$( ."*$34( 3&%(
+"&&#&'( 0.-*-( .;( 2)3*#&'( 3&%J.+(
0..$#&'(<"#$%#&'-8(
@'#$#3K(#-(3(-)$;A7$30#&'6(-)$;A$)5)A
$#&'( 0.&0+)*)8( L#'2$4( ;$"#%6( *2#-(
0.&0+)*)( )$#1#&3*)-( *2)( &))%( ;.+(
5#<+3*#.&6( -7+)3%#&'( );;.+*$)--$48( M*(
03&( <)( 7."+)%( B"#0:$4( 3&%(
7+.5#%)-( 3( 7)+;)0*6( 2#'2$4( )-*2)*#0(
;#&#-28(
@+*)5#3K(0.&0+)*)-(3+)(3(-)+#)-(.;(
%)0.+3*#5)(0.&0+)*)-(*23*(-*3&%(."*(
<)03"-)(.;(*2)#+(0.$.+(3&%(*)?*"+)8(
D2)4( 3+)( #%)3$( ;.+( 3$$( )?*)+&3$(
;$..+-( 3&%( 377$#03*#.&-6( .;;)+#&'(
#17+)--#5)( -"+;30)( ;#&#-2#&'( .;(
2#'2(%"+3<#$#*4(3&%(+)%"0)%(13#&A
*)&3&0)(&))%8
48$/,7<,1'$,/</,)(
-KK5CA87&897&C:@7&J5@KB7Z&A;&%976@A1&
:;58976&J5@KB7Z&5?&?5E6&FEABLA;MC&9:C&
:L5K87L&:&CA@AB:6&:KK65:J9&85&897&L7CAM;&
5?&7;86:;J7&9:BBC&:;L&7Z876A56&CK:J7CN&
#687DA:W&L7C:J8AD7&H:C&EC7L&85&9AM9BAM98&
897&VE:BA8I&5?&897&:K:68@7;8C&:;L&5??76&
VE:BA8I&:;L&J5@?568&A;&897&EC7&5?&5E8L556&
CK:J7C&85&897&L:ABI&BA?7&5?&897&67CAL7;8CN
/8;85<+286(6
";&+67871&D76I&JB5C7&85&897&JA8I&5?&
,76:JBA5;1&89AC&J5@KB7Z&5?&89677&BEZE6I&
95EC7C&7;P5IC&897&K:;56:@AJ&DA7HC&5?&897&
MEB?N&!E6:FABA8I&5?&897&C86EJ8E671&:FB7&85&
HA89C8:;L&897&J5;LA8A5;C&5?&A;87;C7&
9E@ALA8I&:;L&J5665CA5;1&:C&H7BB&:C&
7C8978AJC&:;L&VE:BA8I&5?&897&?A;AC9A;M&H767&
K:6:@5E;8N&[7&9:D7&K65DAL7L&J5;J6787&
C5BE8A5;C&?65@&(B86:\C76A7C&?56&897&
J5;C86EJ8A5;&5?&897&67CAL7;J7C1&6:;MA;M&
?65@&?AF76S67A;?56J7L&J5;J6787&85&
BAM98H7AM98&J5;J67871&:C&H7BB&:C&#687DA:W&
?56&897&7Z876;:B&?B556C&:;L&K:89H:ICN&
32tD!)%/)01'D&**&"'E)*)&+
D!)%/)01'D&**&"'E)*)&+t 33
(/(*$17)2506'85$%/(5(68/76
!"#$%/)-9/+.-$K#9(-/'8+$R#('8/$+9$7#8('9+(('(A$:8#/#A$$
+($-$*'0#89A$)2Y28+'2($.'*&'290A$'66#8+9C$"'(&+/-)+/>$
-90$8#.8#-/+'9$/'$/"'2(-90($'6$=+(+/'8($-90$/'28+(/($#=#8>$
>#-8;$%)6-1)'5TA$'28$)+C"/B#+C"/$.'9(/82./+'9$*-/#8+-)A$
'66#8#0$/"#$+0#-)$(')2/+'9$/'$/"#$8#\2+8#*#9/$6'8$-$/+*#$
-90$.'(/Z#66+.+#9/$.'9(/82./+'9$*#/"'0$B+/"$(2&#8+'8$
&#86'8*-9.#$+9$+9(2)-/+'9$-90$028-1+)+/>;$!"-95($/'$+/($
&'8'2($.'*&'(+/+'9A$%)6-1)'5T$&8'=+0#($-$"+C"$)#=#)$'6$
/"#8*-)$+9(2)-/+'9A$+($-$.)-(($H$6+8#Z&8''6$*-/#8+-)$/"-/$.-9$
B+/"(/-90$/#*&#8-/28#($2&$/'$H?GG':$-90$"-($-$)'B#8$
#9=+8'9*#9/-)$6''/&8+9/A$-($+/$+($&8'02.#0$B+/"$)'B$#9#8C>$
.'9(2*&/+'9$2(+9C$.'*&-8-/+=#)>$)#(($8-B$*-/#8+-)($6'8$
-9$#\2+=-)#9/$=')2*#;$%9'/"#8$'6$+/($29+\2#$&8'&#8/+#($$
+($/"#$&8#.+(+'9$'6$6'8*($+/$.-9$.8#-/#]$*-926-./28#0$/'$
#Y-./$0+*#9(+'9($B+/"$=#8>$.)'(#$/')#8-9.#(A$%)6-1)'5T$
&8'=+0#($"+C"$)#=#)($'6$-..28-.>$+9$(#//+9C$'2/A$-))'B+9C$
(*''/"$6+9+("+9C;
62/87,216720$.(
&,7,(6025('85$%/(
())(&7,9(5$,1:$7(5
0$1$*(0(17
!
!"#$%&' ()*)&+' #"&' *,-+&'
.,-+&' $!)%/)01+' #0/'
)02"#+*"!(*!"&'"&+)+*'*,&'
3#++#1&' -2' *)4&' #0/'
+*#0/' !3' *-' 0#*!"#%'
/)+#+*&"+5'
6!"#$%&'
()*)&+'#%+-'3%#7'*,&)"'3#"*')0'3"-*&(*8
)01' *,&' &09)"-04&0*:' (-0+&"9)01'
.#*&"' #0/' &0&"17' "&+-!"(&+' #0/'
,#9&' %-.&"' (#"$-0' &4)++)-0+5' ;,&'
(-0+*"!(*)-0'3"-(&++&+'#0/'4#*&")8
#%+'&43%-7&/',#9&'#0')43#(*'-0'*,&'
&09)"-04&0*#%'2--*3")0*:'*,&'&0&"17'
&22)()&0(7'-2'$!)%/)01+'#0/'*,&'<!#%)8
*7'-2'%)9)01'-2'*,&')0,#$)*#0*+5
;,&'2-"&4-+*'<!#%)*7'-2'(-0("&*&')+'
)*+' +-%)/)*7=' )*+' 3&"2-"4#0(&' +*#0/+'
*,&'*&+*'-2'*)4&:')*'"&<!)"&+'0-'4#)08
*&0#0(&' #0/' )*' 3"-9)/&+' $&**&"'
"&+)+*#0(&'*-'0#*!"#%'&9&0*+'+!(,'#+'
&#"*,<!#>&+' -"' *-' (-""-+)-05' ?!"'
(-0+*"!(*)-0'+-%!*)-0+'#0/'+7+*&4+'
(-0*")$!*&' *-' +*"-01&"' #0/'
%-018%#+*)01'
$!)%/)01+'
#0/'
)02"#+*"!(*!"&:' .,)%+*' "&(-0()%)01'
&09)"-04&0*#%'(-0(&"0+:')0'3#"*)(!8
%#"' $7' )43"-9)01' *,&' &0&"17'
&22)()&0(7' -2' $!)%/)01+' -"' .#*&"'
3"&+&"9#*)-05' @0/' 2-"' .)*,+*#0/)01'
*,&'&9&0*'-2'&#"*,<!#>&+:'+*-"4+'-"'
+&#.#*&"'(-""-+)-0:'.&'(#0'2!"*,&"'
)0("&#+&' *,&' (-0("&*&A+' +*"&01*,'
#0/' "&+)+*#0(&' .)*,' -!"' &0,#0(&/'
3&"2-"4#0(&'3"-/!(*+5
@0' )00-9#*)9&' +-%!*)-0' *-' "#)0.#*&"'
2%--/)01'-0'+!"2#(&+'!+&/'$7'3&/&+8
*")#0+' #0/' /")9&"+' )+' -22&"&/' .)*,'
B7/"-4&/)#C:' -!"' 0&.' 1&0&"#*)-0'
3&"9)-!+' (-0("&*&:' .,)(,' #$+-"$+'
+*-"4'.#*&"'#0/',&%3+'0#*!"#%'"!0-22'
+-#>')0*-'*,&'1"-!0/5'
!7JKK%LMDNONA$
%PPLN:%!NMD$
MI$7Q,RMSJ,N%TA$
DJ<$UJDJR%!NMD$
PJRVNMWK$:MD:RJ!J$
X2+)/$'9$-$()'&#A$/"#$&-85+9C$)'/$
'6$-$9#B$("'&&+9C$*-))$+9$
!"#((-)'9+5+$"-0$/'$#9(28#$/"#$
(-6#/>$'6$1'/"$&#0#(/8+-9($-90$
.-8$08+=#8($1>$-='+0+9C$(/-90+9C$
B-/#8$+9$"#-=>$8-+9;$%$08-+9-C#$
(>(/#*A$/"#$6+8(/$(')2/+'9$
#9=+(-C#0A$&8'=#0$/'$1#$/''$
#Y&#9(+=#;$!"#$(+/#$*-9-C#8($
/"#8#6'8#$'&/#0$6'8$(286-.+9C$/"#$
&-85+9C$)'/$B+/"$7>08'*#0+-T$
&#8=+'2($.'9.8#/#;$!"#$(>(/#*$
-./($-($-$1266#8$+9$"#-=>$8-+9A$
/"-95($/'$-$.'9.8#/#$()-1$&'28#0$
'9/'$-$(21Z1-(#$'6$.'-8(#$
-CC8#C-/#(;$!"#$.'9.8#/#$+($
(/8'9C$#9'2C"$/'$1#-8$/"#$B#+C"/$
'6$[Z/'99#$0#)+=#8>$/82.5(;$
B7/"-4&/)#C' &0+!"&+' (-+*'
"&/!(*)-0' 2-"' 2%--/' (-0*"-%' 2#()%)8
*)&+' #0/' )+' #' 1"&#*' +-%!*)-0' 2-"'
3#">)01'+3#(&+:'3&/&+*")#0'#%%&7+:'
3#9&4&0*+'-"'2-"'%#0/+(#3)015'
@4-01')*+'-*,&"'$&0&2)*+:')*'-22&"+'
#'/!"#$%&'2%--"'.)*,'9&"7'%-.'(-+*'
-2'4#)0*&0#0(&'#0/',)1,'#&+*,&*8
)(+' #+' )*' (-4&+' )0' #' 9#")&*7' -2'
(-%-"+5
+(5$&/,21
$326(/(0,'$0
!"#$%&'(#)#*+$,-*$+($)'.-/#0$-1'2/$
34$5*$#-(/$'6$7#8-.)+'9$+9$/"#$+()-90$
'6$:8#/#;$<+/"$-$8#(#8='+8$.-&-.+/>$'6$
?@;3$*+))+'9$.21+.$*#/#8(A$/"#$0-*$
B+))$+*&8'=#$/"#$B-/#8$(2&&)>$+9$/"#$
B+0#8$8#C+'9$'6$7#8-.)+'9$-90$%C+'($
D+5')-'(A$B+/"$-$&'&2)-/+'9$'6$
?EFAGGG$&)2($H?EAGGG$/'28+(/($=+(+/+9C$
/"#$-8#-;$I'8$/"+($EH$*#/#8($"+C"$-90$
EEG$*#/#8($)'9C$#-8/"6+))$/>&#$0-*$
B#$&8'=+0#0$/"#$.#*#9/$6'8$/"#$/'/-)$
'6$4G$/"'2(-90$.21+.$*#/#8($'6$
.'9.8#/#$9##0#0$6'8$+/($.'9(/82./+'9;
34t!"#$%#&'(!)**)+(,#*#)-
!"#$%#&'(!)**)+(,#*#)-t
6325765(&5($7,21
081,&,3$/3$5.2).$//,7+($
G%$3$,(,3'$+5./3-#$3.#3$(/$HI2999$<H2$$ $
,"#$J3''*,"#3$.#-.#3,*(%$3%1$K6(.,+$L3.4$
*%-'51#+$/((,=3''$,.3*%*%)$/3-*'*,*#+2$
B'7<6*-$+*M#$+&*<<*%)$6(('2$-"*'1.#%N+$
+&*<<*%)$6(('2$31<*%*+,.3,*(%$3%1$
,#-"%*-3'$+566(.,$/3-*'*,*#+2$3+$&#''$3+$
3.#3+$/(.$.#-.#3,*(%$3%1$#@#%,+;$!"*+$
6.(C#-,$*+$,"#$/*.+,$63.,$(/$,"#$?3'*.(%$3.#3$
.#1#@#'(6<#%,$3%1$/#3,5.#1$3$5%*:5#$
+6#-*/*-3,*(%$.#:5*.#<#%,2$,"#$5%*/(.<*,7$
(/$-(%-.#,#$-('(.2$,"#$/*.+,$+5-"$6.(C#-,$*%$
O.##-#$,($/#3,5.#$*,;$D#$"3@#$=##%$3='#$
,($+5--##1$*%$6.(@*1*%)$-(%-.#,#$(/$
5%*/(.<$-('(.2$"3@*%)$&(.4#1$-'(+#'7$
&*,"$3''$,"#$,#3<+$*%@('@#1$*%$,"#$6.(C#-,P$
,"#$1#+*)%$,#3<+2$,"#$-(%+,.5-,*(%$
-(<63%7$3%1$,"#$366'*-3,(.+;$D(.4*%)$$
*%$+5-"$3$&37$&#$&#.#$3='#$,($6.(@*1#$$
,($(5.$-5+,(<#.$%(,$C5+,$6.(15-,+$=5,$
,3*'(.Q<31#$+('5,*(%+$,"3,$<#,$,"#$
6.(C#-,N+$5%*:5#$.#:5*.#<#%,+;$$
8/75$u)/8,'
+($9<'87<&21&5(7(
!"#$%#&$'()*+,*-+$-#%,#.$(/$0*1'2$*%$
!"#++3'(%*4*2$(--567*%)$3%$3.#3$(/$
892999$+:;$<#,#.+$&*''$=#$,"#$'3.)#+,$
+,(.3)#$/3-*'*,7$(/$,"#$-(<63%7$*%$
>5.(6#;$?(.$,"#$-(%-.#,#$/'((.$(/$,"#$
+,(.3)#$3.#32$3$@#.7$+6#-*/*-2$
,"(.(5)"'7$1#,3*'#1$<*A$1#+*)%$&3+$
1#@#'(6#12$1#<3%1*%)$'#@#'*%)$
6.(6#.,*#+$3+$&#''$3+$"*)"$15.3=*'*,7$
3%1$.#+*+,3%-#$,($"#3@7$5+#2$%3<#'7$
,"#$'(31*%)$3%1$5%'(31*%)$(6#.3,*(%+$
=7$,.5-4+2$3+$&#''$3+$,"#$'(&$
,#<6#.3,5.#+$&*,"*%$-#.,3*%$+#-,*(%+$
(/$,"#$+,(.3)#$3.#3$5+#1$/(.$/((1$
6.(15-,+;$
B5.$-(%,.*=5,*(%$,($,"*+$6.(C#-,#1$
#A,#%1#1$/3.$=#7(%1$,"#$.#+6(%+#$,($
,"#$<*A$1#+*)%$+6#-*/*-3,*(%+;$D#$
6.(@*1#1$3$+6#-*3'$E',.3F$?'5*1$
-(%-.#,#$&*,"$&(.43=*'*,7$6.(6#.,*#+$
,"3,$3''(&#1$/5''7$-(%,.(''#1$
366'*-3,*(%$,*<*%)$3,$,"#$C(=+*,#;$D#$
&#.#$3'+($6.#+#%,$&*,"$-(%,*%5(5+$
+566(.,$,($,"#$C(=+*,#$,".(5)"$(5.$
:53'*,7$1#63.,<#%,2$#%+5.*%)$,"#$
6#./(.<3%-#$-"3.3-,#.*+,*-+$(/$,"#$
-(%-.#,#;
)/25,1$
75,$17$)<//,$'$0
!"#$!.*3%,3/7''*3$R3<$*%$?'(.*%3$*+$3$
<3C(.$*%/.3+,.5-,5.#$6.(C#-,$/(.$&#+,#.%$
S3-#1(%*3;$G,$*+$3$.(-4Q/*''$13<$&*,"$-'37$
-(.#2$TT$<#,#.+$"*)"$3%1$&*,"$3$.#+#.@(*.$
-363-*,7$(/$UH$<*''*(%$-5=*-$<#,#.+;$$$
!"#$13<$&*''$3--(<<(13,#$*..*)3,*(%$
3%1$&3,#.$+566'7$%##1+$*%$,"#$&*1#.$$
3.#3$(/$?'(.*%3$3%1$*+$#A6#-,#1$,($=#$
-(<6'#,#1$*%$H9UV;$D#$"3@#$=##%$
6.(@*1*%)$,"#$-#<#%,$%##1#1$/(.$,"#$
-(%+,.5-,*(%$(/$,"#$13<;
35
36tE8$52$,;(E*&&*!(:$&$*1
E8$52$,;(E*&&*!(:$&$*1t 37
1(:*(1(5$/+263,7$/2)/().$'$
62/87,216720$.(
&,7,(6025(&203$&7
!"#$%&'()%*+,%-$./%0122%/$#3$%&'$%)$$./%"4%2"5(2%
#$/1.$)&/%(/%0$22%(/%&"6#1/&/%31/1&1)7%&'$%8")1()%
9$(%1/2().%"4%:$4;(.(<%='$%5")/&#65&1")%"4%&'$%%%
)$0%>$)$#(2%?"/@1&(2%/&(#&$.%1)%+,*A<%='$%-612.1)7%
1/%5"B@#1/$.%"4%4"6#%2$3$2/%().%1&/%&"&(2%(#$(%1/%
*C<DEA%B+<%8&%1/%$F@$5&$.%&"%-$%5"B@2$&$.%1)%+,*G%
().%0$%'(3$%-$$)%@#"31.1)7%&'$%5$B$)&%4"#%*G%
&'"6/().%56-15%B$&$#/%"4%5")5#$&$%)$$.$.%4"#%%%%%
1&/%5")/&#65&1")<
5(%8,/',1*2167521*)281'$7,216
!"#$%$&'( )*&+**,( -"%*.(
+"!/.( 0%*,$&$*1( 0,2(
1*!3$4*1( $1( *11*,&$05( 6"!(
&-*( 7805$&'( "6( 5$6*( $,( &-*(
4$&'.( 0,2( 055"+1( %"!*(
%")$5$&'9(:$&$*1(-03*(&"(6$,2(+0'1("6(
;!"+$,;( +$&-"8&( <81-$,;( &-*$!(
)"8,20!$*1( 68!&-*!9( =0/$,;( 4$&$*1(
2*,1*!.( +-$5*( !*&0$,$,;( "<*,(
1<04*1.( $1( 0( )*&&*!( 05&*!,0&$3*( 6"!(
&-*( *,3$!",%*,&( 0,2( 6"!( &-*(
+*55)*$,;("6(4$&'>2+*55*!19
A"!( *3*!'( &'<*( "6( 3*!&$405(
4",1&!84&$",.( 6!"%( &-*( &055*1&(
1/'14!0<*!(&"(0(;!"8,2>5*3*5(-"81*(
4",3*!&*2( $,&"( 0( B>1&"!'( )8$52$,;.(
+*( 18<<5'( 2$66*!*,&( 7805$&$*1( "6(
4",4!*&*C
!
?8!( 1"58&$",1( -*5<( 4$&$*1( )*4"%*(
%"!*( 4"%<04&( 0,2( ;0$,( 1<04*( ",(
&-*( ;!"8,2( 1"( &-0&( -"%*1.(
+"!/<504*1.( <8)5$4( 0%*,$&$*1( 0,2(
5"405( 1*!3$4*1( 0!*( 055( 45"1*!(
&";*&-*!9( @-0&( %*0,1( ;!*0&*!(
%")$5$&'(0,2(0()*&&*!(7805$&'("6(5$6*(
6"!($,-0)$&0,&19
TUN%VWW8XU%YO8:S8T>L
!VZU%[8=Q:8=\%
=V%=?U%QZUQ%
UF&$).1)7%/$3$)%/&"#1$/%(-"3$%
7#"6).%().%&'#$$%2$3$2/%-$2"0%
7#"6).%&'1/%"4415$%-612.1)7%1/%
(..1)7%.J)(B1/B%1)%(%5$)&#(2%
)$17'-"#'"".%1)%Q&'$)/L%
#$31&(21]1)7%&'1/%@(#&%"4%&'$%51&J<%
8)%/6@@2J1)7%&'$%5")5#$&$%6/$.%
1)%1&/%5")/&#65&1")L%0$%"@&$.%
4"#%&'$%O2&#(P/$#1$/%
Q^6(@#""4%5")5#$&$%4"#%&'$%
5")/&#65&1")%"4%&'$%6).$#M
7#"6).%@(#;1)7%(/%0$22%(/%
Q#&$31(R%5")5#$&$%4"#%&'$%
"6&.""#%/@(5$/%().%
/1.$0(2;/<
i 6ERY HIGH STRENGTH CONCRETE FOR
&-*( 6"8,20&$",1( 0,2( &-*( 5"+*!(
<0!&1.
='$%5")/&#65&1")%"4%(%)$0%-612.1)7%-$&0$$)%
$F1/&1)7%/&#65&6#$/%1)%&'$%51&J%5$)&$#%'(.%()%
(..1&1")(2%5"B@2$F1&J_%&'$%)$$.%4"#%6).$#7#"6).%
@(#;1)7%/@(5$/%")%4"6#%2$3$2/<%Y"&'%4"#%&'$%
B(//13$L%*LC%B$&$#/%&'15;L%4"6).(&1")/L%&0$)&J%
B$&$#/%-$2"0%&'$%/6#4(5$%().%4"#%&'$%5")/&#65&1")%
"4%(22%&'$%6).$#7#"6).%/&#65&6#(2%$2$B$)&/L%5(221)7%
4"#%(%4(#$%4(5$%5")5#$&$%"4%'17'%.6#(-121&J%().%
($/&'$&15%3(26$L%Q7121(R%5")5#$&$%0(/%5'"/$)%4"#%1&/%
@#"@$#&1$/%&'(&%B(;$%1&%6)1^6$%4"#%/65'%
(@@215(&1")/_%4261.1&J%0'15'%(22"0/%1&%&"%4122%&'$%7(@/%
01&'"6&%)$$.%4"#%31-#(&1")L%#$.65$.%@$#B$(-121&JL%
0'15'%$)/6#$/%&'$%0(&$#&17'&)$//%().%.6#(-121&J%"4%
&'$%5")/&#65&1")L%(%@$#4$5&%41)1/'1)7L%-6&%(2/"%3$#J%
$(/J%(@@215(&1")L%0'15'%B(;$/%&'$%"3$#(22%@#"`$5&%
0"#;%B"#$%@#".65&13$%().%B"#$%5"/&M$44151$)&<
i ,IGHTWEIGHT CONCRETE FOR THE
8<<*!(<0!&1.
i)NSULATINGCONCRETEFORPARTITIONS
0&(*04-(5*3*5.(*&49
D!4-$&*4&1( 0,2( 8!)0,( <50,,*!1(
1**/$,;( &"( 4",3*!&( 2$181*2( 0!*01(
0,2( &!0,16"!%( "52( ,*$;-)"!-""21(
6"!( ,*+( 81*1( 40,( !*5'( ",( "8!(
*#<*!&$1*($,(%0&*!$051(6"!(0(7805$&'.(
5",;>501&$,;( 0,2( 4"1&>*66*4&$3*(
8!)0,(2*3*5"<%*,&9
6&+22/)$&,/,7,(6,1+(5$&/,21
='$%-612.1)7%"4%&'$%G&'%().%HH&'%I#1B(#J%95'""2/%1)%
?$#(521")%1/%")$%"4%&'$%"2.$/&%().%B"/&%'1/&"#15%1)%
&'$%51&JK/%5$)&$#<%='$%#$/&"#(&1")%().%#$5")/&#65&1")%
"4%&'$%-612.1)7%0(/%#$5$)&2J%5"B@2$&$.L%5#$(&1)7%
B".$#)%().%46)5&1")(2%4(5121&1$/<%='$%#$/&"#(&1")%
0"#;/%1)526.$.%&'$%/&(&15%#$1)4"#5$B$)&%"4%&'$%
$F1/&1)7%-612.1)7L%B(/")#J%#$5")/&#65&1")%(/%0$22%
(/%&'$%5")/&#65&1")%"4%(%)$0%&'#$$M/&"#J%-612.1)7L%1)%
"#.$#%&"%(55"BB".(&$%&'$%1)5#$(/$.%@6@12/K%)$$./<%
N$%@#"31.$.%5")5#$&$%/"26&1")/%4#"B%O2&#(P/$#1$/%
(/%0$22%(/%Q#&$31(R%S$/(5&13$%4"#%&'$%/6##"6).1)7%
/1.$0(2;/<
38tE<!3)!/:%E#""#.%7!"!#$
E<!3)!/:%E#""#.%7!"!#$t 39
1(:7+(66$/21,.,
:$7(5)5217
62/87,216720$.(
&,7,(6025(%($87,)8/
&86720,=('&21&5(7(
!"!#$% #&'()*% "+#% !)#,$%
(-% '("+% *#$"#.),*% ,/)%
"(),*0%"+#*%'#,.%1!"/#$$%
"(%"+#%2,$"%,$%1#33%,$%"(%
2.#$#/"4),*%
5!",3!"*6%
7(/8.#"#% !$% 1#33% 23,8#)% "(% &,9#%
CITIES MORE BEAUTIFUL )TS TECHNI4
8,3% 2#.-(.&,/8#% 8(&'!/#)% 1!"+%
!"$% :.#,"% -3#;!'!3!"*% 8,/% "<./% "+#%
&($"% #;".,(.)!/,.*% ,.8+!"#8"<.,3%
,<),8!"*%!/"(%.#,3!"*6
!
7(&'!/!/:% !"$% #$"+#"!8% ,/)%
<"!3!",.!,/% 2.(2#."!#$=% 8(/8.#"#%
8,/%".,/$-(.&%,%-</8"!(/,3%'<!3)4
!/:%3!9#%,%+($2!",3=%,/%,!.2(."%(.%,%
$",)!<&%'*%"+#%</!><#/#$$%(-%!"$%
-(.&$=% "+#% )#3!8,8*% (-% !"$% $".<84
"<.#$=% ,/)% "+#% 5,.!#"*% (-% !"$%
"#;"<.#$6% 7(/8.#"#% !$% ,3$(% 8,2,4
'3#%(-%'#!/:%)!$8.##"%*#"%#--#8"!5#%
1+#/% !"% !$% <$#)% !/% 2.(?#8"$% "(%
.#$"(.#%"+#%,.8+!"#8"<.,3%+#.!",:#%
(-%8!"!#$6
#45*#4533.:@<212*O5H*P.05/6/@<0*23*.*
Q1-*G<26259*35.3295*;/@-5<.95*04.0*
H.3*/59532B<59*0@*2<>:G95*.*35/253*@6*
DR*045-.02>*;./13I**#45*/5A.-;59*
H.05/6/@<0?*045*./5.*./@G<9*045*P4205*
#@H5/?*045*).>59@<2.*+.:.>5*S@05:?*
045*O.02@<.:*#45.05/*@6*O@/045/<*
=/55>5*.::*045*H.7*./@G<9*045*)G32>*
S.::?*5<0.2:3*-@/5*04.<*DQE?EEE*-T*.<9*
23*@<5*@6*045*:./B530*.<9*-@30*
2-;@/0.<0*;G8:2>*H@/13*2-;:5-5<059*
87*045*>207I*!;;/@J2-.05:7*UE?EEE*-T*
./5*>@A5/59*H204*!/05A2.'*K53.>02A5*
H42>4*H.3*G359*6@/*.::*045*H.:1H.73*
@6*045*/59532B<59*H.05/6/@<0*
;/@-5<.95?*;/@A292<B*.<*295.:*3@:G02@<*
6@/*9G/.82:207*.<9*5304502>*FG.:207I
@<.%'<!3)!/:%$(3<"!(/$%!/%8(/8.#"#%
#/,'3#%,33%$(."$%(-%2($$!'!3!"!#$6%
@<.% )#8(.,"!5#% 8(/8.#"#$% !/% "+#%
A."#5!,B% .,/:#% #&'#33!$+% '<!3)4
!/:$%,/)%2<'3!8%$2,8#$%1!"+%#5#.*%
8(/8#!5,'3#%8(3(.%,/)%"#;"<.#6%
!"#$%&!'$%3!#4)6%x‹
()!"#*+!",
(-./0*+./1*23*045*62/30*478/29*
/50.2:*;./1*2<*=/55>5?*>@A5/2<B*
.<*./5.*@6*CD?EEE*3FG./5*
-505/3?*@<5*042/9*@6*H42>4*./5*
B/55<*./5.3*.<9*;./13I*
!;;/@J2-.05:7*DD?EEE*3FG./5*
-505/3*@6*0423*3G/6.>5*./5*
>@A5/59*87*@G/*!/05A2.'*
K53.>02A5*95>@/.02A5*>@<>/505I*
#45*2<9G30/2.:*.5304502>*@6*045*
3;.>5*.<9*045*2<<@A.02A5*
9532B<*-.0>459*;5/65>0:7*H204*
045*.5304502>3*@6*!/05A2.'*
95>@/.02A5*>@<>/505I*)@/5@L
A5/?*20*23*.*/5:2.8:5*3@:G02@<*6@/*
045*42B4*0/.662>*@6*045*./5.*.<9*
045*/5FG2/5-5<03*2<*05/-3*@6*
9G/.82:207*.<9*-.2<05<.<>5*
<5593I
@<.% A:!3!,B% $#3-48(&2,8"!/:% ,/)%
$#3-43#5#3!/:% 8(/8.#"#$% ,33(1%
"#8+/!8,3% ,/)% ,#$"+#"!8% 2.(1#$$=%
1+!3#% (--#.!/:% ,% 2,."!8<3,.3*%
$&(("+% -!/!$+C% ,/)% .#&,.9,'3*%
><!89%,/)%#--(."3#$$%,223!8,"!(/6%
A33% "+!$% 8.#,"!5!"*% +#32$% "(% &,9#%
#,8+%8!"*%,%</!><#=%)#$!.,'3#%,/)%
,%23#,$,/"%23,8#%"(%3!5#%!/D
$*,/,$Š$77+(36<&+,.2
3('(675,$1%5,'*(
#45*;59530/2.<*8/29B5*H.3*
>@<30/G>059*2<*@/95/*0@*2-;/@A5*045*
3.6507*@6*4G<9/593*@6*30G95<03*H4@*
>/@3359*045*,262332.3*.A5<G5*0@*B@*0@*
3>4@@:*5A5/7*9.7I*#45*;/@M5>0?*@6*B/5.0*
./>4205>0G/.:*.<9*>@<30/G>02@<*2<05/530?*
>@<32303*@6*0H@*;2::./3?*5<>.32<B*045*:260*
34.603?*.*;:.06@/-?*30.2/H.73*.3*H5::*
.3*923.8:59NH455:>4.2/*.>>533*/.-;3I*
&<*;./02>G:./?*045*./>4205>0G/.:*9532B<*
/5FG2/59*>@<>/505*>.302<B*.0*.*82B*
452B40?*H204@G0*.*>@<30/G>02@<*M@2<0?*
H42:5?*.0*045*3.-5*02-5?*20*>@-;/2359*
FG205*95<35*/52<6@/>5-5<0I*#4535*
;./.-505/3?*>@-82<59*H204*045*
/5:.02A5:7*042<*>/@33L35>02@<*@6*045*
5:5-5<0?*;/@4282059*045*G35*@6*
>@<A5<02@<.:*>@<>/505?*H42>4*H@G:9*
/5FG2/5*A28/.02@<I*#423*23*H47*!B2:2.'*
35:6L>@-;.>02<B*>@<>/505*H.3*
35:5>059*6@/*045*;/@M5>0?*9532B<59*
5J.>0:7*6@/*3G>4*/5FG2/5-5<03*2<*
.;;:2>.02@<3I
!"#$%#&'(!)**)+(,#*#)-t 41
!"#$%&'()"*
+,-.
/$)$5*(352),/(
/$)$5*(:25/':,'(
:HVWHUQ(XURSH
!"#$#%&#'()*+(,-*).
1RUWK$PHULFD
&HQWUDODQG(DVWHUQ(XURSH
0LGGOH(DVWDQG$IULFD
/DWLQ$PHULFD
$VLD
*52835(9(18(6
%<$&7,9,7,(6
3 1
5(9(18(6
.(<),*85(6
!"#$#%&#'()*+(,-*).
2
*/(0#%#12
,/(566'#672#8(719($:1$'#2#
)/(324#'
countries
*52835(9(18(6
%<*(2*5$3+,&$5($
6 1
employees
5
revenues
in million euros
production sites
2
5(9(18(6
4
3
countries
*/(;#82#'1(<=':>#
,/(@:'24(5%#'A$7
)/(0#12'7?(719(<782#'1(<=':>#
B/(CA99?#(<782(719(5D'A$7
E/(F72A1(5%#'A$7
G/(58A7
1(7,1&20(*52836+$5(
P!
&(0(17
:25/'/($'(5
employees
countries
1$**5(*$7(6
1&21&5(7(
employees
revenues
in million euros
production sites
revenues
in million euros
production sites
42 t!"#$%#&'(!)**)+(,#*#)-
!"#$#%&'()*$+
!"#$%&'(")"&*+"%,+-&*$%"./01"-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&;&<7$)4+.=&>+?"-&@4%4A+?".4-B&2&3$%45.$-&6$7+4&8+1%4%/&9&':&C&D./0'+4&
@%4--4,4?+B&2&3$%45.$-&6$7+4&8+1%4%/&9&':&EFG&H>!!&I"1-+)$B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&JK&@+L+--+4-&'$7$-)%+4A&
1%+7,$B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&JM&3$%45.$-&-+."&)%N5?B&>+?"-&O+4,4-B&2&3$%45.$-&6$7+4&8+1%4%/&9&':&J;&
P$%404&-(+'/4%7&I"1-+)$B&P.45+A,&Q&R+A+-(+A,B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&JC&6+.4?+&'.4A)B&*4AA+-&*4AA$."-&2&
3$%45.$-&6$7+4&8+1%4%/&9&':&JS&6+.4?+&'.4A)&$0'."/$$-B&*4AA+-&*4AA$."-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&JT&U($--4."A+?+&>$V&
W4)$%L%"A)B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&JX&6+.4?+&'.4A)&$0'."/$$-B&*4AA+-&*4AA$."-&2&3$%45.$-&6$7+4&8+1%4%/&9&
':&MKFMJ&Y)($A-B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&MM&Y'4%)0$A)-B&*+"%,+-&*$%"./01"-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&
M;&R+ZB&*+"%,+-&*$%"./01"-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&MC&["N1.$&)%45?&%4+.V4/&.+A$&U+)("%$4B&8+4A"?.47+B&["0"?"-B&>+?"-&
@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&MSB&U($--4."A+?+&>$V&W4)$%L%"A)B&*+"%,+-&*$%"./01"-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&MX&
Y)($A-B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9&':&ME&Y))+?+&D7"-B&>+?"-&[4A++.+7$-&9&645$7"A+4&Y+%'"%)&$Z)$A-+"A&V"%?-&2&
3$%45.$-&6$7+4&8+1%4%/&9&["N1.$&)%45?&%4+.V4/&.+A$&U+)("%$4B&8+4A"?.47+B&["0"?"-B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9':&
MG&H)/.+74&1/F'4--B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9Y)($A-&6$)%"B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&
9U($--4."A+?+B&W$-)&\A)$%A4.&]+A,&%"47&2&3$%45.$-&6$7+4&8+1%4%/&9':&;K&PN1.+5&("N-+A,&+A&[+4#4)4B&>+?"-&@4%4A+?".4-&2&3$%45.$-&
6$7+4&8+1%4%/&9':&;J&Y'4%)0$A)&1N+.7+A,-&+A&U($%0+B&U($--4."A+?+B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9^+..4-&+A&!%$)$B&>+?"-&
@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9':&;M&3/7%"0$7+4&4''.+54)+"A&+A&'4%?+A,B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9':&;;&
(")$.&V+)(&Y8RY_8D@&4''.+54)+"AB&*4AA+-&*4AA$."-&2&3$%45.$-&6$7+4&8+1%4%/&9Y'"-$.$0+&&740B&>+?"-&@4%4A+?".4-&2&3$%45.$-&
6$7+4&8+1%4%/&9':&;C&H)"%4,$&+A)$%+"%B&8+7.B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9':&;S&@4..+)($4&6NA+5+'4.&Q&]$5%$4)+"A&'4%?B&
>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9R."%+A4B&U%+4A)4L/..+4&740B&2&3$%45.$-&6$7+4&8+1%4%/&9':&;T&DLL+5$&1N+.7+A,&2&!/L+$.7&
`%"N'&9':&;X&8$L?474&3"-'+)4.&I"1-+)$B&>+?"-&[4A++.+7$-&2&Y@UD]&9&!"A-)%N5)+"A&"L&1N+.7+A,B&&*+"%,+-&*$%"./01"-&2&3$%45.$-&6$7+4&
8+1%4%/&9H5("".&+A&3$%45.+"AB&!%$)$B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9':&;E&H04%)P4%?B&^4--+.+-&H4%+",."NB&2&3$%45.$-&
6$7+4&8+1%4%/&9':&;G&U($--4."A+?+&>$V&W4)$%L%"A)B&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/&9@+L+--+4-&'$7$-)%+4A&1%+7,$B&^4--+.+-&
H4%+",."NB&2&3$%45.$-&6$7+4&8+1%4%/&9_45?&5"#$%&'(")"&>+?"-&@4%4A+?".4-&2&3$%45.$-&6$7+4&8+1%4%/:
+(5$&/(6*(1(5$/&(0(17&203$1<
JG:;&?0&64%?"'"N."N&Y#$:
P$4A+4&JGKKMB&`%$$5$
U$.:&<a;K=&MJK&MEGE&JJJ
+AL"b.4L4%,$:,%
,,,-./0/'1(-1'
%(77(5+286,1*025(&203$&7025('85$%/(
025(%($87,)8/%(77(5&211(&7('
:HFUHDWHLQQRYDWLYHFRQFUHWHVROXWLRQV
WRFRQWULEXWHWRPRUHEHDXWLIXOFLWLHV
&RQFUHWHLVDPDWHULDOIRUFUHDWLRQ,WLQVSLUHVLFRQLFEXLOGLQJVDVZHOODVSUHVHUYLQJRXU
KHULWDJH$JLOLDŠFDQWDNHDOOVKDSHVDOOWH[WXUHVDQGWUDQVIRUPVVLGHZDONVDQGVTXDUHV
LQWRYLEUDQWVSDFHV2XUGHFRUDWLYHFRQFUHWHLQWKH$UWHYLDŠUDQJHZDVXVHGIRUDOOWKH
ZDONZD\VRIWKHUHGHVLJQHGZDWHUIURQWRI7KHVVDORQLNLRIIHULQJDXQLTXHVROXWLRQRI
KLJKGXUDELOLW\DQGDHVWKHWLF