Kanoos Diversification to Steel Industry

As part of business diversification Kanoos has concrete plans to have steel manufacturing plants in Kuwait and Erbil, Kurdistan by the names Gulf Steel Group of Companies and G.K.Steels Pvt. Ltd. Respectively.

Decision to build Steel manufacturing plants in Kuwait & Erbil, KRG

Taking into consideration the potential of steel demand in the global arena Kanoos has decided to invest and thought this as the right chance to be a stake holder in rebuilding Iraq. The Company felt the need of “being at the right place at the right time.” Company has done necessary land acquisitions of the required plots with futuristic expectations in mind to set Gulf Steel & G.K Steels as one of the largest steel manufacturing facility in Kuwait & Erbil.

It is proposed to have state-of-the-art plants using a highly automated process adhering to world-class requirements

Kanoos steels Core Ideology

Purpose

To bring out the finest steel and help in providing the best solution for the requirement of steel in Kuwait & Erbil and other Countries.

Envisioned Future

Become the organization most known for producing the best steel with different offerings of customized specifications, and in so doing, become one of the best performing companies in the world. In a short span of time Kanoos Steels will be an ISO Certified organization.

Kanoos Steel strives to strengthen the industrial base through the effective utilisation of staff and materials. The means envisaged to achieve this are high technology and productivity, consistent with modern management practices.

Kanoos Steel recognises that while honesty and integrity are the essential ingredients of a strong and stable enterprise, profitability provides the main spark for economic activity.

Overall, the Company seeks to scale the heights of excellence in all that it does in an atmosphere free from fear, and thereby reaffirms its faith in democratic values.

Kanoos Steel Vision

We will consistently be ranked as one of the best companies in the world… We will create a cultural transformation that will put us on the forefront of the most progressively managed organisations, known for pioneering innovative management practices. Governments and top-notch global dealers of steel will seek to partner with us… People who choose an industrial career will want to work for us…. Very soon the Kanoos Steel's Symbol will be as recognised as the symbol when people think of steel and Kanoos Steels will be the ultimate solution for world-class steel requirements. To seize the opportunities of tomorrow and create a future that will make us a positive company.

Kanoos Steel Manufacturing Strategy

Kanoos Manufacturing Vision - What we want to achieve?

Create a center of manufacturing excellence with the following objectives.

  • Consider Kanoos Steel as lowest cost producer of steel in the world

  • Making the Kuwait & Erbil plant a supply option for Global market

  • Creating a resource base of people and technology

The above is to be achieved through a work culture, which focuses on

  • Innovation part of our work

  • Empowered teams

  • Accountable systems

  • Dealing ethically

  • Continous Education Program

  • Feeling for employees that they are being cared

  • To always produce quality products

The company initially wanted to approach cautiously and therefore decided to manufacture quality Steel by refining scrap metal - a product line.

Product Mix

Tor steel of 8mm, 10mm, 16mm, 20mm, 25mm, etc of international standards is to be produced in the plant.

Capacity

The total plant capacity would be 100,000 tons of steel per year

Kanoos Corporate Governance

The company believes that good corporate practices enable the board to direct and control the affairs of a company in an efficient manner and to achieve its ultimate goal of maximising shareholders value. Realising this, the company has adopted many practices over the last few years, even when there were no mandatory requirements in this regard.

The Internal Audit Department reports, on a quarterly basis, any significant findings to the Director Board to review the audit observation, adequacy of actions taken and followed up implementation of corrective actions.

Auditors ascertain their views on the adequacy of internal control systems in the company. The committee submits an annual report of its observation to the Board of Directors. All the officers of the company have pledged compliance with the code of conduct which prescribes a manner in which the employees will conduct the company's business.

Kanoos Quality Policy

Consistent with the group purpose, Kanoos shall constantly strive to improve the quality of life of the communities it serves through excellence in all facets of its activities.

We are committed to create value for all our stakeholders by continually improving our systems and processes through innovation, involving all our employees.

This policy shall form the basis of establishing and reviewing the Quality Objectives and shall be communicated across the organization. The policy will be reviewed to align with business direction and to comply with all the requirements of the Quality Management Standard.

Human resource Policy


Kanoos recognizes that its people are the primary source of its competitiveness.

It is committed to equal employment opportunities for attracting the best available talent and ensuring a cosmopolitan workforce.

It will pursue management practices designed to enrich the quality of life of its employees, develop their potential and maximise their productivity.

It will aim at ensuring transparency, fairness and equity in all its dealings with its employees.

Kanoos will strive continuously to foster a climate of openness, mutual trust and teamwork.

Corporate Social Responsibility Policy

Kanoos believes that the primary purpose of a business is to improve the quality of life of people.

Kanoos will volunteer its resources, to the extent it can reasonably afford, to sustain and improve healthy and prosperous environment and to improve the quality of life of the people of the areas in which it operates.

Environmetal, Occupational Health and Safety Policy

Kanoos reaffirms its commitment to provide safe working place and clean environment to its employees and other stakeholders as an integral part of its business philosophy and values. We will continually enhance our Environmental, Occupational Health & Safety (EHS) performance in our activities, products and services through a structured EHS management framework. Towards this commitment, we shall;

  1. Enablish and achieve EHS objectives and targets.

  2. Ensure compliance with applicable EHS legislation and other requirement and go beyond.

  3. Conserve natural resources and energy by constantly seeking to reduce consumption and promoting waste avoidance and recycling measures.

  4. Eliminate, minimize and/or control adverse environmental impacts and occupational health and safety risks by adopting appropriate "state-of-the-art" technology and best EHS management practices at all level sand functions.

  5. Enhance awareness, skill and competence of our employees and contractors so as to enable them to demonstrate their involvement, responsibility and accountability for sound EHS performance.

Research Policy

Kanoos believes that research provides the foundation for sustained, long-term, stakeholder delight. Kanoos shall nurture and encourage innovative research in a creative ambience to ensure that the competitive advantage in its overall business is retained and surpassed. Towards this goal, the Company commits itself to providing all necessary resources and facilities for use by motivated researchers of the highest calibre. Research in Kanoos shall be aligned to the technological initiatives necessary to evolve and fulfil the overall business objectives of the Company