.
§ Brief
§ Vision & Mission
§ Corporate Strategy
§ Financial summary
§ Quality and Enviromental Policy
§ Brief:vision
Middle East Complex for Engineering, Electronics & Heavy Industries PLC (MEC) is Jordan's largest producer, trader, distributor and exporter of consumer electronics (electronic home appliances) and electric home appliances in collaboration with some of the big names in global electronics industry, namely LG Electronics, . In addition, it manufactures, assembles and markets a wide range of electronic products under its own brands.
MEC is the leader in theelectronics and electric appliances market in Jordan, with over 75 per cent market share. Its local sales, however, constituted about 28 per cent of its total revenues in 2005. MEC has an integrated distribution channel consisting of 45 outlets in Jordan, of which 30 are in Amman, and the balances are spread all over the country.
MEC was established in 1994 after three companies-Middle East Company for Electric Industries, Middle East Company for Engineering & Electronic Industries, and Middle East Company for Manufacturing & Trading Vehicles- were merged.
The range of home appliances produced and distributed by MEC includes consumer electronics goods, such as televisions; DVD; Audio;LCD and 'Electrical' goods, such as refrigerators, washing machines, air- conditioning units, microwave ovens and vacuum cleaners; and other small appliances, such as gas heaters and electric cookers, etc.
In 2005, MEC entered into a joint venture agreement with Emirates International Investment Company, UAE (EIIC Group) to implement a new project in Abu Dhabi, UAE, with a total project cost of about JD 142mn (US$ 200mn). MEC is expected to contribute 40% of the new company's equity, named National Industrial Complex (NIC). MEC is also expected to retain the management control of the new venture.
§ Vision & Mission:
MEC Vision
MEC vision is to be the premier effective supplier of high value products and services to the industries we serve.
We will continue to be dedicated to excellence and innovation and a group characterized by our integrity.
MEC Mission
MEC mission is to provide value added products and services to the home appliances industries both domestically and internationally. Our mission focuses on manufacturing competitive products that satisfy and exceed our customer's requirements and expectations.
MEC also sustains continuous efforts to raise skills and competence of its employees, and to invest all the opportunities to achieve excellence and distinctive image locally and globally.
§ Corporate Strategy
MEC's future growth strategy involves expanding its manufacturing capabilities to further increase locally manufactured content. By increasing the local content in the home appliances, the company is expected to significantly cut down on its imports, transportation, production and inventory costs, and improve profit margins. This will allow for more competitive pricing, a stronger position in export markets, and increased ability to penetrate new Markets.
The company's shares are listed on the Amman Stock Exchange and are traded under the ticker symbol MECE. In addition, MEC has obtained all required approvals for the listing on Dubai Financial Market. Listing which is expected in Q1 2007.
§ Quality and Environmental Policy
Middle East Complex (MEC) is a pioneer company in thefield of production elecrical and electronics devices according to the international quality standards , and the company has been certified the quality managemnet system ISO9001:2000 and environmental management ISO14001:2004.
And to insure its commitment and responsibility for the managerial, environmental and technical quality standards during the managerial and productivity proccesses, the MEC commites:
|
Quality
|
Environment
|
|
Deepening the quality principle to be the culture for all emplyees in the company
|
Deepening the environmental culture for all employees, suppliers and stockholders in order to control the negative environmental effects and eliminate the pollution
|
|
Production a competitive products and services that meet and exceed its customer expectations locally and international
|
The efficient response for environmental events
|
|
Improvement the productivity level
|
The efficient operation for the power and intial resources
|
|
Meet the requirements of entering a new markets
|
Improvement the relationships with the environmental authorities and instituations
|
And MEC also commites:
|
Quality
|
Environment
|
|
The legislations and laws realted to the company activities
|
The environmental legislations and laws realted to the company activities
|
|
The systems and technical standards related to the company activities
|
The systems and technical standards related to the company activities
|
|
The requirements of ISO 9001:2000
|
The requirements of ISO 14001:2004
|
And in order to achieve that, the MEC implements the following procedures :
Ø Establishing a yearly objectives that could achieve by establishing a minor objectives and action plans for all deparment assure the continual improvement in the company.
Ø Offering the needed training company employees.
Ø Making a systematic internal audit for quality and environmental management systems and objectives.
Ø Making a regular management review meetings to assure the continual improvement.