In accordance with the current decentralized Group structure, social aspects fall under the scope of responsibility of the operating unit; as such, there is no Group-wide concept in place. In addition, the contributions made to the community by the individual corporate entities at the various sites are not systematically recorded. For this reason, it is not currently possible to make statements for the business units or divisions in this regard. The risks arising from these endeavors are, however, part of the Group’s risk reporting.
Individual companies traditionally support civic society at their respective locations in a variety of ways. For example, the Lifecycle Solutions division uses funds that can be donated to charitable organizations to promote increased participation in social, athletic, cultural or environmental areas by its employees. At the new Group company Austrak Pty Ltd., employees have a paid absence day which they can use to work for a charity organization of their choice. Vossloh Fastening Systems and Vossloh AG have made, for example, contributions to a children’s and youth hospice. A large number of Vossloh employees also volunteered in their local communities in their free time.
Additionally, Vossloh’s research and development departments in particular collaborated with a number of universities and research institutes at varying levels and in various constellations, including in Germany, France, Sweden, China and the US. Among other things, Vossloh also awards prices for particularly out-standing academic performance – such as the top graduate of the Financial Management course at the University of Applied Sciences Europe in Iserlohn.