What is the value of growth?

2 3

The basis of growth is continuity, which we ensure in this Report by maintaining all of the indicators used last year, even whereresults have not improved. This new edition of the Report has been prepared with greater involvement of the Argor-HeraeusGroup as a whole: we have extended the Report to the Group’s affiliates and to people who devote a large portion of their timeto ensuring that our commitment to responsibility is maintained.For most of us, growth in 2011 meant seeing the construction site for our new and larger headquarters in Mendrisio takeshape, day by day, brick by brick. Therefore, reading this Report will be like following the path, from foundation to roof, that willlead us to our new home in late 2012. An important achievement that will give Argor-Heraeus even more solid bases for con-tinuing its commitment to responsible growth.

Responsibility and growth. At Argor-Heraeus, these two words representnot only our long-term goals, but also the basic principles that guide our daily choices. With this second Sustainability Report, we wish to shareour commitment with everyone who contributes to our work: stake-holders, personnel, business partners, institutions, the public, and manyothers.

Letter from the CEO

54

OverviewGuide to the report 6

Our history 8

Our shareholders 10

The Group 12

Corporate governance 14

Our operations 16

Accreditations and recognitions 18

Our stakeholders 20

Our approach to sustainability 24

Economic responsibilityDistribution of added value 26

Suppliers of services and accessory products 28

Our customers 30

Insider’s look – Economic responsibility 32

Environmental responsibilityWater consumption 34

Chemical consumption 38

Energy consumption 42

Emissions 46

Waste materials, packaging materials, noise 50

Insider’s look – Environmental responsibility 52

Social responsibilityComposition of personnel 54

Health and safety at the workplace 58

Training 60

Insider’s look – Social responsibility 62

Activities with our stakeholders 64

ARGOR-HERAEUS SAVia Moree 14CH-6850 MendrisioTel. +41 91 640 53 53Fax +41 91 646 80 82info@argor.com

76

and quantitative information regardingthe sustainable approach with whichthe design was conceived and executed.Interviews with managers are presentedin the sections concerning economic,environmental, and social responsibilitywith the aim of providing a more personal view, linked to Argor-HeraeusGroup’s day-to-day commitment tosustainability.

Reporting. This document is organisedby subject matter (for example: waterconsumption, use of chemicals, etc.)and maintains a constant structure for each so that the reader may quicklyidentify key information and data.

Value of contents. We have main-tained the same parameters used in thefirst edition to provide maximum comparability of Reports, and have also expanded reporting by adding indica-tors that provide an even more precisedescription of the Group’s economic,environmental, and social impact. Theselection of these additional indicatorswas based on principles of complete-ness, significance, and measurability.

Structure. This report consists of twomacrosections: the first provides a profile of the Group and describes itshistory, operations, organisation, andrelations with groups of stakeholders.The second section presents theGroup’s economic, social, and environ-mental results in the reference period.Special attention is given to the Mendrisioheadquarters expansion site, which isdescribed in the Report with photos of itsprogress and with various qualitative

Perimeter. Starting with this secondedition of the Sustainability Report, wehave decided to extend reporting(where possible) to our wholly-ownedaffiliates Argor-Heraeus Deutschlandand Argor-Heraeus Italia. To ensurecomparability with the previous edition,data from affiliates have not been consolidated with data from the Swissparent. Given that the great majority ofour personnel and operations are concentrated in Mendrisio, indicatorsfor the other Group companies are a subset of the total (the others beinginsignificant). Likewise, figures andgraphs do not include the portion ofcosts generated by construction for ex-pansion of the Swiss headquarters. Information on the impact of works isprovided below and includes photos.

Guide to the reportThis edition of the Sustain-ability Report includes other members of the Argor-Heraeus Group, because responsibility is a valueshared by all.

Continuity is the key word in business as well as in reporting: for this reason, wehave maintained all of lastyear’s indicators as well asthe 3-year horizon.

We have also adopted a respon-sible approach to planning and managing the constructionsite for expanding our Mendrisioheadquarters, as demonstratedby the numbers, photos, events,and stories contained in this Report.

8 9

Our history1951Argor SA is formedin Chiasso, Switzerland.

1973UBS acquires100% of the Company.

1986UBS and Heraeus Group(Germany) form a jointventure, creating Argor-Heraeus SA.

1988The new head-quarters in Mendrisio,Switzerland is inaugurated.

1999Heraeus and Man-agement acquire100%; entrance of Commerzbank International.

2002Münze Österreichenters the share-holder structure.

2004An office is opened in Chile; Argor-HeraeusDeutschland is formed.

2005Argor-Aljba isformed in Mendrisio,Switzerland.

2006Argor-HeraeusItalia is formed.

2010Approval and expan-sion of Mendrisio,Switzerland facility.

2013The official inaugura-tion of the new, expanded, and reor-ganised headquartersis scheduled to takeplace.

In 2004, we launched an inter-nationalisation process thatled to the creation of affiliatesin Germany and Italy and to the opening of an office inChile.

25 kg is the weight of the cornerstone, laid in 2011, for expansion of our head-quarters.

We have been based in Canton Ticino for over 60 years, withworldwide operations. Our motto:local heart, global head.

1110

Heraeus, a German multinational with13,000 employees, 121 locationsthroughout the world and over 5,900patents and licenses, has operated inthe precious metals and hi-tech sectorfor 160 years. Its shareholding providesimportant synergies at the industriallevel and in terms of research and development thanks to over 400 dedi-cated R&D personnel in 25 developmentcentres. In addition to precious metals,its fields of activity include biomaterials,medical/dental/pharmaceutical prod-ucts, and quartz technologies. In 2011,Heraeus generated turnover of Euro4.8 billion and revenues of Euro 21.3billion in precious metals trading.

Münze Österreich, the AustrianMint, with over 800 years of experi-ence, is one of the world’s mostimportant mints. Its core businessis the production of Euro coins forthe Austrian Republic, intended for circulation, as well as coins inother currencies for other countriesand a wide range of collector’scoins and medals. 100% controlledby the National Bank, it currentlyhas over 200 employees and pro-duces about 450 million pieces per year. Its shareholding providesthe Group well-established market-ing and commercial know-how,with specific reference to creatingsynergies in distribution channels.

Commerzbank, is a large pri-vate German bank with almost60,000 employees, more than14 million private customers,and a million business cus-tomers worldwide. Since enter-ing the capital of Argor-Heraeusin 1999, the bank has con-tributed to the Group’s growthwith its expertise and services.Commerzbank also supportsour global operations thanks toits presence in 52 countries.

Partners who firmly believed in our industrialplan, from a non-specu-lative point of view, are the key to the Group’slong-term growth.

Know-how, solidity, global presence. Shareholders such as Heraeus Group, Commerzbank, and MünzeÖsterreich allow a smallgroup like Argor-Heraeus to be a world leader in itssector.

Management participation in the share capital ensures constant alignment of shareholder interests, visions, and values with those of the Company.

Our shareholders

12 13

ARGOR-HERAEUS SA

ARGOR-HERAEUS Deutschland 100%ARGOR-HERAEUS Italia 100% ARGOR-ALJBA 50%

The Group

Argor-Heraeus Deutschland 100%Since 2004, Argor-Heraeus has beenpresent in Germany thanks to itsPforzheim affiliate in Baden-Württem-berg. The reference point for the German market, the affiliate providesprecious metal refining, assaying, trading, and logistics services.

Argor-Aljba 50%This joint-venture was formed in 2004 by Argor-Heraeus SA and a Russian partner to develop an innovative technology for coatingtools, mechanical components and watch parts. The coating,which contains over 80% diamond,provides exceptional hardness andgreatly extends the life of treatedparts. Argor-Aljba and its team of specialists and researchers helpcustomers choose the best hi-techcoating solution from a very widerange of applications.

Argor-Heraeus Italia 100%Created in 2006 to provideItalian goldsmiths the sameservices as those offered bythe parent company by meansof shared technological know-how, the Group’s Italian affili-ate collects, analyses, refines,and trades in precious metals.It also markets semi-finishedproducts such as profiles, hammered tubes, form profiles,strips, washers, and semi-processed materials in a widerange of alloys and preciousmetals.

Argor-Heraeus SA is theheart of the Group, with 90%of its employees and almost all of its production.

A global market demands international presence. Weare close to our customers(even physically) thanks to our affiliates in Italy andGermany and our office inChile.

Thanks to its developmentand production of DLC (Diamond-like-coating),Argor-Aljba quickly earnedan important position not only in our Group, but in the entire sector as well.

1514

Executive Governance The highest level of governance is represented by the Share-holders Meeting and by the Board of Directors. In addition, a four-member Board of Directors Delegation supports Company management. A Risk Audit Committee, composedof specialists who assess and control risks deriving from the Company’s activities and strategies, is appointed withinthe Board of Directors.

Managerial Governance At the managerial level, the allocation of resources amongthe profit centres is determined by the Internal Credit Com-mittee, consisting of top management and the directors of each area. Control over actual use of these resources asinstructed by the Credit Committee is assigned to an internalCredit Office, assisted by outside consultants.

The Compliance Office supervises compliance with regula-tions, international guidelines for the industry, and all internalrules. This office plays an important role in the complex Due Diligence process for potential customers (detailed inthe section regarding our customers).The Personnel Committee is the reference for employees,who also have the right to refer directly to Management if necessary.

Operative GovernanceThe technical office of each profit centre is responsible forchecking that centre’s operative quality. In addition, a controlbody with a full-time Supervisor for safety at the workplace, a quality-control laboratory for metals and an EnvironmentalProtection Supervisor operates in all Company areas.

Argor-Heraeus is based on 3 profit centres: bankproducts and mining (refin-ing and foundry), industrialproducts (mechanics andsemi-finished products),and precious metal services(trading, laboratory, andother services) in additionto finance, control and compliance, personnel, andIT services.

But this lean structure is not linked to an equally leancontrol system. For our Company, governance is afundamental tool for guaran-teeing responsible conducttoward all stakeholders, internal and external, as wellas for making our businesssustainable over the longterm.

Numerous governance bodiesoperate at different levels, defined as executive, mana-gerial, and operative, withcontrol activities extended toall Group companies.

Corporategovernance

1716

Our operationsAlloys and semi-finished productsfor the watch and jewellery industry

Precious Metal Services

Diamond-Like-Coatingsdialong® and dianoir®

Transformation into finishedproducts - bank ingots (cast and minted) - Kinebar®- Iridor® products- coins and medals

Refining- gold- silver- platinum- palladium

Pt 78

PlatinumPlatinum, one of the world’s most pre-cious metals due to its rarity, owes itsfame to uses in the jewellery field. Nevertheless, it is a precious metal withmany industrial applications. About one fifth of the objects we use every day

contain platinum: medical devices, electrical contacts, fibre optics, laptops, just to mention a few. The silencers of millions of cars contain platinum be-cause of its catalytic properties.

Pd46

PalladiumThis precious metal has characteristicsvery similar to platinum, such as hard-ness, high melting point, and excellentcatalytic properties. As a result, it oftenreplaces platinum due to its lower cost.It is used most often as a catalyst to

reduce harmful car emissions, in elec-tronics, dentistry, and chemical processes.As opposed to the other three metals,pure palladium is not yet a “fashion”metal for jewellery, and is used mainly to produce white gold alloys.

Au79 Ag47

SilverWhile the main use of silver has tradition-ally been in the jewellery sector, its principal use is now industrial: new techno- logies take advantage of this metal’sunique properties to manufacture every-thing from cell phones to solar panels.

Silver is the best conductor of electricity andheat, it resists corrosion and oxidation, and is also antimicrobial. CDs and DVDs, plasma andLED screens, and RFID labels are just a few examples of everyday objects that contain silver.

Gold Approximately 80% of the gold extractedeach year is used in the jewellery industrythanks to its brilliance, resistance to oxidation, and ductility. Because it is verysoft, it is never used in a pure state, but is melted with other metals such ascopper, silver, or platinum. The purity of the alloy is measured in carats (24k =pure gold; 18k = 75% gold; 12k = 50%gold).

Thanks to its high value, gold remains a valuable investment in many forms (ingots, coins, etc.) and, because it canbe manipulated to create layers or wiresonly a few microns thick, it is utilised inthe electronics, aerospace, pharmaceuti-cal, and glass industries, in medicine andorthodontics, and even in haut-cuisine.

1918

- a member of the Association Suisse des Fabricants et Com-merçants des Métaux Précieux(ASFCMP);

- a certified and voluntary participantin the CO2 emissions reduction programme (CO2 ridotto);

- recognised as a Professional Training Company by the Canton;

- ISO 9001 certified;

- holder of the Dun & Bradstreettop rating certification.

- authorised by the Swiss FinancialMarket Supervisory Authority(FINMA) to operate as a financialbroker;

- accredited by the Swiss Accredi-tation Service (SAS) as a testinglaboratory for analyses of preciousmetal alloys;

- a certified member of the Respon-sible Jewellery Council (RJC);

Argor-Heraeus is:

- a recognised LBMA (London Bul-lion Market Association) GoodDelivery Producer and a refereefor the control of precious metalsassaying quality standards of theLBMA Good Delivery List members;

- a recognised operator on LME (London), TOCOM (Tokyo),COMEX/NYMEX (New York), DMMC(Dubai);

- holder of the Trade, Melter and Assayer License issued by the Swiss Central Office for PreciousMetals Control;

Accreditationsand recognitions STS 423

Being named one of theworld’s 5 Good Delivery Referees by the LBMA, thehighest international author-ity for the gold and silvermarkets, makes us very proudand significantly increasesour sense of responsibility.

With the REACH (Registration,Evaluation, Authorisationand Restriction of Chemicals)Rule, the European Union introduced a very importantsystem to control chemicalsand their impact on peopleand the environment. Bymeans of its German affiliate,Argor-Heraeus promotes theapplication of these new rulesto precious metals.

We obtained ISO 9001 certi-fication in 2011, which allowed the introduction of a shared quality assurancesystem. A demanding butvery important step towardimprovement and greatertransparency.

2120

Shareholders

Management

Employees

Customers

Suppliers

Competitors

Greater confidence in management Common strategy and vision Business development support Shareholder satisfaction Shareholding stability Increased industrial synergies

Shared growth and business strategy Long-term satisfaction and relations Commitment

Sharing of mission and vision Low turnover High satisfaction Identification and commitment Support for Company image and reputation

Development of customer loyalty Commercial information (products/services)Sharing of values Being perceived as a reliable and qualified partner Know your customer policy

Respect of the Company’s quality standards Sharing of values Being perceived as a reliable and qualified partner

Cooperation on shared concerns (example: safety at theworkplace, environmental protection)

Periodic communication in line with the shareholder’s informa-tion needs (example: monthly data, newsletter) Transparent communication and continuous dialogue Annual ReportSustainability Report

Personnel policy and incentivesMonthly information meetings Development and sharing of crisis communication plan Annual ReportCode of conductSustainability Report

Personnel policy and incentivesPeriodic information Code of conductCode of conduct workshops Sports and recreation groupSustainability Report

Know your customer assessment proceduresTargeted personalised information Trade fairsCommercial activities (example: targeted visits)Code of conductSustainability Report

Assessment proceduresCode of conductSustainability Report

Participation in workshopsParticipation in ASFCMP (Association Suisse des Fabricantset Commerçants des Métaux Précieux) platform

2011 Partecipation Instruments GoalsStakeholder

Our stakeholders

2322

Institutions

Public Services

Industry Associations

Non-Governmentalorganisations (NGOs)

Mass media

Cooperation and support Being perceived as reliable partnersOpening of a preferential information channel Being perceived as sensitive to local needs

Being perceived as a reliable and qualified partnerCollaborative spirit and relationship of mutual trust

Renown and reputation Being perceived as reliable partnersOpening of a preferential information channel

Support and collaborative spiritExchange of information

Renown and reputationBeing perceived as reliable partnersOpening of a preferential information channel

Inauguration of site to expand Mendrisio headquarters Periodic targeted informationSecond edition of SUPSI Award for the best engineering diploma SUPSI open daysVisit by students of Lugano Upper SchoolSticker for training company with 5 apprentices acceptedInvolvement of SUPSI to assess laying of solar panels Sustainability Report

Regular exercises during the yearPeriodic targeted informationContinuous collaborationSustainability Report

AITI, Chamber of Commerce affiliationInauguration of site to expand Mendrisio headquartersContinuous collaboration on a variety of matters with top associations regulating the precious metals sector Sustainability Report

Support of three local non-profit associationsAssessment of involvement in non-profit projects linked to fair trade Participation in conferencesSustainability Report

Involvement of the media in SUPSI open daysProfessional activity of press and media relations office Sustainability Report

2011 Partecipation Instruments GoalsStakeholder

2524

No company is an island. These words, borrowed from a famous poem, perfectly express the concept that guides our approachto responsibility. Our Company, part of a global business and a chain with partners that are very similar in size and origin, cannot achieve sustainability only by looking inward. This is why our commitment starts with a constant effort to ensure that ourbusiness partners observe all international regulations and standards, that we are not involved directly or indirectly in any illegaltrafficking, exploitation of labour, money laundering, etc.

Our assessment of customers and suppliers becomes increasingly effective as applicable standards and rules become moretransparent and well-defined. This is why we play an active role in major international associations that govern the preciousmetal sector and all of its related operations.

But this attention to our partners does not lessen the principal and essential element of sustainability, i.e., that the Company as a whole and each of its employees must act responsibly. Our code of conduct provides the key principles of our work, but itis only thanks to a real sharing of values and an efficient control mechanism that Argor-Heraeus has become a stable and successful company in over sixty years of business, ready to learn from its mistakes and able to invest confidently in the future.

We invest time and resourcesto have a guiding role in the definition of internationalrules to ensure a safer andmore transparent industry. We work closely with OECD,LBMA, RJC, and WGC, theworld’s foremost authoritiesfor the precious metals sector.

We work to ensure that all of our partners in the chainare as careful as we are withregard to sustainability: we gather information sys-tematically, apply rigid selec-tion parameters, and keep a watchful eye on the socio-political context in which our customers and suppliersoperate.

Corporate values are mean-ingful only when shared: in 2011, we continued ourproject to ensure that all ofour employees know andcomply with our code of con-duct.

Our approach tosustainability

2726

Distributionof added value

In 2011, our construction site gener-ated 11 million CHF in value for theterritory

The largest share of the valuewe generate directly benefitsour employees in the form ofsalary.

Our Company’s business haseconomic consequences forour employees, shareholders,customers, and suppliers, as well as for institutions andmany other parties: measuringhow the value we generate is distributed gives a completepicture of our role in society.

12 cents of each franc ofvalue created is paid in theform of taxes. To this areadded indirect benefits forour local area, generated by means of jobs and salaries.

33%20%

35%12%

distributed to ourshareholders

personnel costs

taxes paid at local, district, and federal level

reinvested or earmarked in Company

Company

Shareholders

Employees

Institutions

2928

Our selection of local suppliers becomeseven more apparent in the data regard-ing expansion of the Mendrisio head-quarters, with 84% of expendituresallocated to companies in Canton Ticino.The proximity principle is also appliedby the Group’s other companies: wherepossible, our Italian and German affili-ates give preference to local suppliers.

because we believe that a dynamic andflourishing territory is fundamental forsustaining our growth; second, shorterroutes for transporting goods and peoplemeans lower CO2 emissions. Theseprinciples were translated into choicesin 2011 as well: 25% of our total supplierexpenditure regarded companiesin Canton Ticino, and another 51% re-garded Swiss companies.

Under our strategic supply policy, weselect suppliers of chemicals, fuels, security services, consumables, disposalservices, etc. not only on the basis ofspecific qualitative and economic crite-ria, but also by considering their loca-tion. Proximity is an important factor for at least two reasons: first, we wantto promote growth in the local area,

Suppliers of servicesand accessory products

7.6 francs out of 10 are spentat the 554 Swiss supplierswith which we have worked.

Quality, solidity, high stan-dards of transparency and sustainability. When ourpotential suppliers have satisfied these requirements,we add another that isequally important: proximity.

For 2011 alone, expansion of our headquarters involvedover 11 million francs paid to suppliers, with almost 9 million spent in Ticino and2.6 million to suppliers in the region of Mendrisio.

Distribution of suppliers by region

Canton Ticino

Rest of Switzerland

European Union

Extra EU

25%51%

19%

5%The only foreign cost item refers to the prefabricated structure, not available in Switzerland

3130

Our customers

The construction site is an importantmessage to our customers: we invest for stable and sustainablegrowth in Ticino

Know your customer. To be a responsible company,we have to work hard to ensure that our customers are responsible as well. To do this, we widen our gazeto the entire chain. We wantto know and evaluate ourpartners, their history, prin-ciples, and operations.

In our sector, customers andsuppliers of raw materialsare often one and the same,given that customers gener-ally retain ownership of precious metals throughoutprocessing.

Constant, multiple checks,both internal and by externalparties to limit any risk ofworking with irresponsiblepartners.

Our contribution to shared rules As a major international player, Argor-Heraeus understands the importanceand responsibility of contributing to theformulation and implementation of rulesand guidelines needed to make the precious metals industry more respon-sible from the economic, environmental,and social point of view. Therefore,Argor-Heraeus’s managers invest agreat deal of their time working closelywith, or are board members of, associ-ations, organisations, and agencies thatgovern the sector. For example, Argor-Heraeus made an important contribution

to Responsible Gold Guidance definedby the LBMA (London Bullion Market Association), as well as to the Conflict-Free Gold standard defined by the WorldGold Council. The Company also con-tributes actively to the RJC (ResponsibleJewellery Council) and the OECD (Organisation for Economic Co-operationand Development).

preliminary acceptance evaluations,after which the “candidate” is evaluatedby Management with respect to geo-graphical risk and compatibility withcompany policy. Only at this point doesthe actual audit process begin at thecompliance office, which, based on anevaluation of all of the parameters established by the know-your-customerpolicy, decides whether or not to beginworking with the new customer.

Constant checks If the result of the due diligence processis positive, a series of internal and external checks is begun to evaluatethe respect and maintenance of certainaspects of responsibility. Periodic checksare conducted by both the credit officeand the compliance office. To these are added an annual independent financial audit and the checks imposedby FINMA, the Swiss authority that su-pervises financial transactions, to ensurecompliance with money-launderinglaws. Monitoring is completed with vari-ous audits to confirm compliance with international guidelines imposedby the industry regulatory bodies of which Argor-Heraeus is a member.

In our sector, we face a fundamentaland demanding challenge: verifyingthat none of the precious metals we process come from companies thatexploit labour, that do not employ adequate means to protect the environ-ment, or use revenues to finance illegal ethically questionable agendas.Our commitment is based on threeprinciples: strict due diligence of customers, constant monitoring, andapplication of standards shared by theentire industry.

A strict selection processThe process for deciding whether or notto work with a new partner begins with the officer who manages relationswith that customer. He is responsible for gathering information about the potential partner, the people who workthere, and the context in which it oper-ates. Then, the Argor-Heraeus compli-ance office conducts a series of

3332

very strict selection and monitoringprocess. At the operative level, my com-mitment to economic responsibility isdefined by numerous small actions thatadd up to create value. For example, I try to be very punctual when payinginvoices to avoid creating cash flowproblems for suppliers and, under con-ditions of equal quality, I give preferenceto local suppliers. To work responsibly, it is essential thatall of my co-workers be responsible aswell, so I try to transmit the importanceof working in this manner. I am con-vinced that responsible conduct cannotbe imposed from above: it is somethingthat each person has to assimilate.

How do you apply your commitment to economic responsibility in your dailywork?I don’t really do anything spectacular or sensational. I base my daily decisionson the principles of consistency, trans-parency, and reliability. In real terms,this means a commitment to creatinglong-term relationships based on trustwith all stakeholders, both inside and outside the Company. It is importantthat our partners be responsible aswell; therefore, we subject them to a

Insider’s lookWith respect to economic responsibility, what deci-sions has the company maderegarding the constructionsite?From the point of view of economic responsibility, the decisions with regardto the expansion were made on thebasis of the principles mentionedabove. The size of the project and theinvestment have not created any excep-tion to these principles. For example, almost all of the suppliers involved in the work are from Canton Ticino andwent through a complex selectionprocess. We also paid a great deal ofattention to transparency toward institu-tions and all stakeholders. Lastly, I think an investment of this size is in itself a sign of responsibility toward employees, customers, suppliers, andinstitutions. It means that our Companydoes not speculate, and that its vision is one of long-term growth shared andsupported by our shareholders, who believe in a stable, lasting presence inCanton Ticino.

What does working at a responsible company meanfor you?It gives me great personal satisfaction,because I see that the values and ethical principles I try to abide by in mypersonal life are shared and appliedhere at work, where I spend a largepart of my time. I could never work fora company that doesn’t make me per-ceive this sense of sharing. In addition,I can’t deny that I’m proud to be part of a company that has applied principlesof economic, environmental, and socialresponsibility for many years, even whenawareness of such principles was lesswidespread.

Economic responsibility

Interview with Christoph Wild, CFO

3534

Water consumption

1.5%: water consumption at the con-struction site compared to the quantityof water used by Argor-Heraeus in 2011

7 out of 10 litres of water are used to cool metals andmachines.

In 2011, total water consump-tion was 81,160 m3, higherthan in the previous year.

5 Olympic-size pools: theequivalent amount of waterpre-treated (subjected to special purification processesbefore being sent to the purification plant) in 2011.

Water is an essential part of our production processes, and is used mainlyto cool machines that would otherwisequickly overheat and malfunction. Wateris also used with reagents in chemicaland electrolytic refining processes forprecious metals.

Cooling towers Cooling water Chemical and electrolytic treatments

Other

25% 7% 64% 4%

2009 51,269

2010 60,786

2011 81,160

Total water consumption in m3

3736

In 2011, modernisation of the controlsystem for the waste water pre-treat-ment plant was concluded. Variousprocesses were automated, which improved the quality of the operators’work, increasing overall safety and further reducing the risk of errors withpotential damage to the environment.

Greater attention to pre-treatedwater While the improved cooling systemswill reduce the volumes of consumedwater, our greatest commitment re-mains the treatment of water used inchemical and electrolytic reactions. The most part of this water is also sub-jected to preliminary treatments thateliminate any heavy metals before it is mixed with the other water used andsent (after analysis) to the MendrisioWater Purification Cooperative.

Our commitment tosustainability

Closed circuits in the expandedheadquartersIn reorganising our processes for the expanded headquarters, we paid a greatdeal of attention to reducing water con-sumption. To achieve this, closed coolingcircuits will be installed, which will con-siderably reduce the almost 60,000 m3

used for this purpose in 2011.

1,660 m3 of water were consumed byArgor-Heraeus Italia for the preciousmetal processes in which it is involved,equal to one-fiftieth of consumption bythe parent company. On the other hand,the systems installed at Argor-HeraeusDeutschland are smaller than those at Argor-Heraeus Italia, and therefore itconsumed slightly more than 1,000 m3.

jewellery industry, which require greaterquantities of cooling water. Beyond thevolatility of annual consumption levels,the trend toward higher efficiency becomes clearer if the reference periodis expanded: water consumption grew at an average annual rate of 6.6% overthe last ten years, compared to a 9% average increase in production.

In 2011, total water consumption was81,160 m3, approximately one third morethan in the previous year. This increasewas not linked exclusively to greater production volumes, but also to a seriesof additional factors, the most importantof which was a change in the productmix. There was a significant increase insemi-finished products for the watch and

1,277 m3 of water used to produce cement, with no discharges or pollution

Hydrochloric acid (HCl), nitricacid (HNO3), and causticsoda (NaOH) represent 90%of the chemicals used by our Company.

3938

Gold and silver, the two precious metals that we process in the largest quantities, are refined with hydrochloric acidand nitric acid, respectively. The other substance needed to complete the reactions (i.e., to neutralise the acidic solutions)is caustic soda.

Chemical consumption

1,428. The kilometres of electri-cal wire that can be manufac-tured with the 313 tonnes ofcopper oxide sludge deliveredto companies specialising inmetal recycling.

+10%Increase due to increasedproduction and to reducedpurity of materials received.

Nitric acid Caustic sodaHydrochloric acid Other chemicals

26% 27% 37% 10%

Chemical consumption and production

Tonn

es

2009

pro

duct

ion

= 1

00%

An insignificantamount of chemicalswas used at theconstruction site

Hydrochloric acid Nitric acid Caustic soda Other chemicals Production

3,500

3,000

2,500

2,000

1,500

1,000

500

0

160%

140%

120%

100%

80%

60%

40%

20%

0%

2009 2010 2011

4140

Control and recycling of residuesOur main waste product is sludge from metal residues (copper oxides). Compared to 2010, sludge increased by 22%, to 313 tonnes, deriving in part from the lower purity of materials received last year. All sludge is sent to specialisedcompanies for processing and recycling in conformity to law.As described in the section on water consumption, residues of heavy metals and salts in waste water are carefully treatedbefore being sent to the purification plant.

Our commitment to sustainability

Once used for production, chemicals can mix with residuesor be emitted into the atmosphere. Not only does Argor-Heraeus pay maximum attention to respecting standards andlegal limits when managing these substances, we make a daily commitment to respecting even stricter self-imposedlimits in order to limit the impact of our operations on thesurrounding environment.

Maximum hourly gas emissions in mg/m3 and OIAt limits, 2009

Measured value

OIAt limit

250

150

30

Nitrogen oxides

Organic compound

Inorganic compound

Theory and practice go hand in hand.Unfortunately, theory must sometimesbe applied: the last incident occurred inlate 2010, when a fire broke out at oneof our furnaces. In just a few minutes,our employees, working together (andthanks to sophisticated safety systems),eliminated the problem without any consequences for people and the envi-ronment.

In addition, the Company has an alarmset to a value 20% below the legal limitfor NOx emissions and ready to trip ifthis threshold is ever exceeded. But ourfight against emissions goes beyondcontrol: in 2011, a number of changesin production processes reduced NOxproduction by 15%.

Risk management We firmly believe that risk managementplays a primary role in protecting theterritory against possible environmentalthreats, and therefore instruct our em-ployees in order to prepare and coordi-nate them in case of unexpected events.

Constant monitoring of emissionsWith regard to emissions of nitrogenoxide generated by metal refiningprocesses, our goal is to ensure constantmonitoring that goes beyond legal requirements of periodic measurement(OIAt, ordinanza contro l’inquinamentoatmosferico). Therefore, in May 2011we activated a monitoring system that allows us to keep emissions undercontrol at all times to guarantee aneven higher safety level for our employ-ees and the surrounding population.

because in 2011 our commitment togreater efficiency was made more difficult by a tendency to receive mate-rials with a low purity level, requiringthe use of greater quantities of chemi-cals for refining processes.

In 2011, we consumed 3,005,423kilos of chemicals, almost 300,000more than in the previous year. Thisincrease is explained only partially by the analogous increase in production

For the Group’s affiliates, chemicalconsumption is irrelevant, consistingof less than one thousandth of theparent’s consumption. All processingactivities are conducted at Mendrisio.

4342

Energy consumption

At the construction site, energy was used to run all of the machines, for indoor lighting and for security lighting

+10% total energy consumption in 2011.

¾ of the energy used is electricity.

50 Swiss families could satisfy their annual energyneeds thanks to Argor-Heraeus’s savings in 2011.

Energy consumption and production

Ener

gy c

onsu

mpt

ion

(MJ/

a)

2009

pro

duct

ion

= 1

00%

50,000

45,000

40,000

35,000

30,000

25,000

20,000

15,000

10,000

5,000

0

160%

140%

120%

100%

80%

60%

40%

20%

0%

Fuel oil Methane Electricity Propan Production

2009 2010 2011

Methane ElectricityFuel oil Propane

5% 16% 74% 5%

4544

2011 we implemented a series of concrete actions thatsaved an additional 644 MJ (+158% compared to 2010),equal to the annual consumption of fifty Swiss households.The largest such action regarded the optimisation of ventila-tion in our offices.

Our commitment to sustainability

Concrete actions, constant improvementAlthough our energy consumption depends in large part onproduction, and its reduction (where possible) requires wide-scale intervention, Argor-Heraeus is convinced that even mar-ginal steps, if constant, can make a difference. Therefore, in

Energy was supplied to the site bydirect connection to the AIM grid

Our commitment to renewable energy Argor-Heraeus will also use renewableenergy at its expanded headquarters.In cooperation with the Institute for Applied Sustainability to the BuiltEnvironment of SUPSI (University of Applied Sciences and Arts of SouthernSwitzerland), we conducted a feasibilitystudy for the installation of a photo-voltaic system on the roof of the newfacility to provide an additional source of renewable and non-polluting energy.

New headquarters, new sourcesThe strategic plan to expand our Mendrisio headquarters includes re-placing the fuel oil boilers with boilersthat run on methane, a much moreecological fuel, for greener heating ofthe new building. In addition, there will be a system to recover heat fromplant cooling circuits.

Electricity consumption at Argor-Heraeus Italia and Deutschland was202 and 280 MJ, respectively. Giventhe small size of these companies, their combined consumption representsonly 1% of that of Argor-Heraeus SA.

Higher energy consumption was matchedby higher production. Higher energyconsumption was also attributed to thelower grade of materials received.Propane consumption, while remainingat very low levels, increased by 36%due to higher quantities of melted prod-ucts, the processing of which requirespropane.

35,248 MJ of electricity were consumedin 2011 to operate most of the machinesused to process metals. The remaining12,190 MJ were generated by methaneand fuel oil to heat the rooms and for a few chemical processes, and bypropane for metal smelting processes.

4746

Emissions

An increase of 103 tonnes ofCO2 emitted in 2011, derivingfrom increased productionand a change in the mix ofenergy resources.

CO2: the main consequence of the use of fossil fuels forproduction and heating.

Participation by our employ-ees in the mobility plan developed in 2011 helped reduce traffic and CO2 emis-sions in the atmosphere.

emissions: compared to a 9% averageannual increase in production, emis-sions increased an average of approxi-mately 2% per year.

last year as well as a greater need toheat the rooms with fuel oil. A long-term analysis shows a trend to-ward improved efficiency with regard to

2011 carbon dioxide emissionsamounted to 801 tonnes. This increasecompared to previous years derives fromthe larger volume of metals processed

2009

pro

duct

ion

=10

0%

Tonn

es o

f CO 2

CO2 emissions and production Production

CO2 emissions

800

600

400

200

02004 2005 2006 2007 2008 2009 2010 2011

150%

100%

50%

0%

4948

Our commitment to sustainability

CO2 reduction programmeWe share the goals and commitments that Switzerland as-sumed with the CO2 law. In 2011, we again played an activerole in the AEnEc (Agency for energy for the economy) and participated in the CO2 Reduction programme to reduceemissions. With the expansion of our plant and reorganisation of productionprocesses, we will take another step toward energy efficiencyand sustainability.

Company mobility policies were extended to outside personnelworking at the site

(complementary to the others), disincen-tivization of the use of private cars byintroducing a parking tax for employees,revenues from which are used to subsi-dize incentives for mobility and activitiesof the sports/recreation group.

The programme, which made signifi-cant progress in 2011, is based on four points. The first is the “Arcobalenoaziendale” programme (in which 14 employees already participate), whichgives a 50% discount on an annualpass for travelling to and from workthanks to the combined contribution ofthe Canton and the Company. The second is a series of car-poolingincentives, which has led to the forma-tion of 35 employee car-pooling groups.The third is the promotion of slow travel (walking, bicycles) for employees who live near the Company, and fourth

Personnel mobilityArgor-Heraeus’s impact in terms ofemissions does not depend only on itsindustrial operations. We have over 200 employees whose daily commuteto work generates an impact on the environment. Therefore, we are pursuing a multifaceted programme of sustain-able mobility for our employees that willbalance their right to mobility with the need to reduce pollution and nega-tive effects such as emissions of green-house gases and CO2, smog and traffic.

The most recent measurement atArgor-Heraeus, conducted in 2009, revealed a maximum concentration of0.8 mg/m³, only 4% of the legal limit.

imposed by the Ordinance on Air Pollu-tion (OIAt). The Environmental ProtectionDepartment of Canton Ticino conductsperiodic measurements to check conformity to this limit.

Metal processing generates dust, prima-rily zinc oxide and lead oxide, that isemitted into the air. By law, emissionsmay not exceed the 20 mg/m3 limit

10 car parks were allocated to car-pooling for site personnel

Fine dust emissions in mg/m3 and OIAt limits,2009 measurement

Measured value

OIAt limitDusts 20

5150

Oils and solvents used dur-ing production are disposedof as special waste.

Waste materials, packaging materials,noise

Noise has been reduced by 20-30 decibels thanks to the use ofheadsets: the noise from a lorrymotor at a distance of onemetre is perceived at the samelevel as sounds in the home.

In 2011, with a large invest-ment, we almost completelyreplaced PVC with PET inpacking materials.

NoiseIn an industrial environment like ours, is it normal for some machines in certaindepartments, such as the foundry, togenerate noise that could cause poten-tial risks to our employees. Therefore,we constantly monitor the situation and,where possible, try to work directly onthe machinery to mitigate this problem.In addition, for more complete protec-tion of our employees, we instruct themto use protective ear wear where notrequired by law.

Packaging materialsIn 2011, we took an important step toward environmental sustainability withregard to the materials used to pack ourproducts. Thanks to a new machine, we have replaced PVC with PET in mostof the packages that require plastic.When the configuration and type of product allow, we also use wood orcardboard (ecologically more sustain-able) for packaging.

Waste materialsRegulations provide very specific rulesfor handling different waste materialsaccording to their type and possible impact on the environment. At Argor-Heraeus, packing materials such aspaper, cardboard, wood, and plastic aredisposed of by authorised disposalcompanies. Potentially more hazardousresidues, such as solvents used inwashing operations and lubricants, aretreated as special waste in compliancewith law.

Rubble from excava-tions were reused forfilling

5352

I walk through the production depart-ments to talk individually and informallywith employees, trying to be available at all times. I remind them that the doorto my office is always open.I always try to promote dialogue and exchange of viewpoints with the Com-pany’s other stakeholders as well. For example, my relationship with envi-ronmental authorities has always beenbased on transparency and constructiveinteraction: a work method that is appreciated by both parties and thathas often helped us to find concreteand efficient solutions to problems.

How do you apply your com-mitment to environmentalresponsibility in your dailywork?I work at a company that by definitionhas a potential impact on the environ-ment. My commitment to this aspect is part of my profession, and my dailycommitment is to increase every employee’s awareness of the potentialimpact of his or her job. The respect of environmental laws andof internal rules are absolutes, and theCompany’s state-of-the-art safety sys-tems immediately detect any fault orproblem. Despite this, I believe that onlyfull awareness lets you prevent prob-lems before they arise. So, every day

Insider’s lookWith respect to environmen-tal responsibility, what deci-sions has the company maderegarding the constructionsite?Environmental protection was an essential aspect during the design anddevelopment phases of the site, andconstruction of the new building goesbeyond the minimum criteria currentlyimposed with regard to efficient use ofresources and energy. At our new and expanded headquarters,we will be able to significantly reducethe amount of water used thanks to the installation of closed circuit coolingsystems. In addition, about 300 kWhwill be generated by photovoltaic panelsmounted on the roof: a very tangibleway to demonstrate that our environ-mental commitment is more than justwords!

What does working at a responsible company meanfor you?For me it means having a responsibilityto be shared with co-workers and topmanagement, a responsibility that I certainly don’t leave on my desk at theend of the day. Since I began workingat Argor-Heraeus in 1988, I have always felt the full support of Manage-ment, with which I have always had anopen and constructive dialogue. I thinkthis is an important sign that a respon-sible company gives to its employees.The stability of Management and the shareholders, and the long-term

growth policies that culminated in thelarge investment to expand the head-quarters, have always made me feelsure that I could count on a consistentcorporate policy based on continuity,one that makes it possible to carry outwide-ranging plans.

Environmental responsibility

Interview with Alessandro Ruffoni, Environmental Manager

5554

Composition of personnel

9 new permanent jobs cre-ated this year at Mendrisio.We are proud of our constantgrowth.

Pension, insurance coverage,accessibility, apprenticeships,training, moments of recre-ation and relaxation: guaran-teeing all of these aspects is essential for having employ-ees who are calm, satisfied,and ready to make their con-tribution.

The strength of the Swissfranc made us face difficultchoices this year: we optedfor increasing efficiencyrather than eliminating jobs,cutting wages, or payingsalaries in euros. Becausesustainable growth in timesof crisis means makingchoices that protect jobs.

Compared to Mendrisio, the otherGroup companies have a total of only34 employees (16 at Argor-Aljba and 9 each at Argor-Heraeus Italia andArgor-Heraeus Deutschland).

thanks to a long-standing relationshipwith two specialised agencies. The in-creased use of temporary work derivesfrom the extreme volatility that markedthe year: demand peaks with very short-term orders alternated with equally as sudden drops. Nevertheless, startingfrom 1 January 2012 we were able to permanently integrate about onequarter of the temporary employees onour staff.

In 2011, thanks to greater demand forthe processing of precious metals, we were able to create 9 new permanentjobs, exceeding the threshold of 200employees at Mendrisio for the firsttime in our Company’s history. We alsoadded an average of 56 temporary employees during the year, recruited

Employees and temporary personnel

2009

2010

2011

198

207

Employees

Temporary personnel (FTE)

176 30

33

56

30-40: workers at the site everyday

5756

employment at Argor-Heraeus, weightedwith data on growth in the number of employees, is a source of pride. For example, 80% of the 128 employ-ees with us 5 years ago are still at theCompany.

The slight fluctuations in the index fromyear to year are attributable to purelyphysiological factors, such as (for ex-ample) the number of employees whoretire in a given year. A happy employee will stay in the Company for many years. Therefore, the data referring to average years of

Almost 3 employees out of 10 at Argor-Heraeus in Mendrisio are women. Our personnel policies promote the hir-ing of women.The turnover rate indicates the percentof employees who left the Companyduring the year. In 2011, this index remained very low (5.75%).

About 27% of our employeeshave a university degree or a diploma from a professionaltrade school: a technologicalcompany demands qualifiedpersonnel.

40% of our employees live in Canton Ticino: a significantpercentage for a companynear the border.

Low turnover rate and highaverage stay at the company:two results in 2011 that we intend to achieve year afteryear.

Employee turnover rate

2009

2010

2011

3.4%

5.75%

4.6%

Average stay in Company

< 5 years

5 to 9 years

10+ years

26%

34%

40%

Employee education level, 2011

University degree

Professional trade school

Professional training completewith apprenticeship

In-house training

15%

12%

32%

41%

Distribution of employees by gender, 2011

M

F 28%

72%

7 AM – 5 PM:work hours at thesite in conformity to law

5958

Health and safety at the workplace

Only slightly more than oneaccident for every 100,000hours worked. -38% on the index of serious accidents.A satisfactory year, althoughour goal remains zero.

Training, exercises, state-of-the-art safety systems, clearrules and procedures, codesof conduct, signs: safety atthe workplace is our uncondi-tional priority.

An expert engineer, constantlyupdated on safety matters, devotes 100% of his time tomonitoring and instructing ourpersonnel on the importance of a safe workplace.

The Magnitude Index (MI) measures thenumber of days lost due to accidents at the workplace every 1000 days. This index fell considerably compared to 2010 (-38%) thanks to the absenceof any accidents requiring long recoverytimes (as occurred in 2010).

The Lost Time Injury Frequency (LTIF)index expresses the number of accidentsrecorded for every 100,000 hoursworked. The index rose slightly com-pared to 2010, but remained at a verylow level in 2011 as well.

To keep safety aspects under control,we concentrate on two widely adoptedparameters: the Lost Time Injury Fre-quency (LTIF) index and the MagnitudeIndex (MI).

Magnitude Index – LTIF

MI

LTIF

1.00

0.80

0.60

0.40

0.20

0.002009 2010 2011

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

0 accidents at the site in 2011

6160

Training

ISO 9001: the achievement of international quality man-agement certification was a very important step towardexcellence that requiredeveryone’s contribution.

Over 400 hours of safety training, 1,500 of professional training, 600 on the code of conduct, 260 on quality: in2011as well, we concentratedon developing know-how.

Involvement and participationwere the passwords for instruction on the code ofconduct for all Argor-Heraeusemployees in 2011.

A clear, shared, applied Code ofConductFor Argor-Heraeus’s principles and ethical/behavioural values to be interi-orised by those who work in theGroup’s companies, each person mustconsider the consequences that non-conforming conduct may have forhim/herself and for the Company. With this in mind, a large project on theCode of Conduct was launched in 2011.Fifteen teams were formed which,based on the bottom-up learning approach, dealt with the fundamentalprinciples and ethical aspects of Argor-Heraeus’s business, such as corruption,money laundering, unfair competition,stakeholder relations, responsibility in daily work, internal values, and social-environmental commitment. An enor-mous investment that will surely generatebenefits in the future.

The quality culture and ISO 9001ISO 9001 certification was obtained in2011 thanks to the introduction of an integrated and tested process manage-ment system that allowed complianceof the reporting procedures and docu-ments for the Company’s activities. The real challenge was convincing ouremployees of the advantages and usefulness of changing long-standingoperating routines. To do this, the Com-pany launched a concentrated trainingand awareness programme withweekly meetings of project teams inthe profit centres, as well as 260 hoursof classroom time for our employees.

Professional training and safety Our most important training activity regards safety. All of our employees –including apprentices and temporarypersonnel – devote their first day of work to safety training. Internal or external courses are held to teach employees how to prevent and manageemergencies or unexpected situations.In addition to safety, there are profes-sional workshops, specific technicalcourses, and seminars for executivesand managers, courses for the devel-opment of management and strategicskills, and language courses. Therewere more than 1,500 hours of theseactivities in 2011.

Hours of safety training

2009

2010

2011

136

144 External training

Internal training

408

269

304 296

Argor-Heraeus made the site available for safety exercises in cooperation withlocal authorities

6362

me know my colleagues, their stories,and their needs, so I can create a moreeffective dialogue. The other side of the coin is that this increases my involve-ment and sense of personal responsi-bility.

With respect to social re-sponsibility, what decisionshas the company made regarding the constructionsite?The first step for having a safe site waschoosing a high-quality partner knownfor very strict and scrupulous supervi-sion of works. In cooperation with ourinternal contact for the site, we definedthe most critical aspects from the verybeginning, such as passes, basic rulesfor prevention, and emergency man-agement. Although the risk of accidentcannot be eliminated, I can say that co-operation with colleagues has achievedour common goal: excellent timing,quality work and, most important, a verygood situation with regard to safety.

How do you apply your com-mitment to social responsi-bility in your daily work?My job isn’t over when employees re-spect the safety rules. It is essential that everyone fully understand why cer-tain measures and rules are so critical.When I see that messages are not correctly received, I find an alternateway to make those individuals aware. I give myself precise goals and usespecifically developed indicators to check the effectiveness of my work. Working in a medium-size company lets

Insider’s lookBeing a responsible company alsomeans being transparent, and for thisreason we involved the authorities(starting with the Canton and the City ofMendrisio) right from the design phaseso that every step in the project wouldbe approved.

What does working at a responsible company meanfor you?Dialogue. I think that one of the mostimportant aspects of being part of a re-sponsible company is knowing that I can always talk to management andcount on their support for any problem,question, or doubt. Especially when my role as workplace safety managersometimes requires me to be a “pain in the neck” with employees, it is important to feel that my decisions aresupported. I work hard to create anopen dialogue with employees, giving

feedback and opinions, trying to developa calm and cooperative climate. In addi-tion, knowing that I’m part of a companywith an excellent reputation for respon-sibility lets me sleep soundly: I knowthat we’re doing everything possible toensure safe working conditions foreveryone, and that people come first.

Social responsibility

Interview with Carla Marcolli, Workplace Safety Manager

6564

In the spring, some students from the Lugano SecondarySchool, as part of the activities organised for the InternationalChemistry Year, visited Argor-Heraeus for a hands-on look at what they study at school, discovering the secrets of goldand silver refining reactions and of the chemists who work at the Company.

In addition to its regular support of theFondazione Provvida Madre inBalerna, the Istituto Torriani in Mendri-sio, the Istituto Canisio of Riva San Vitale, and of cultural, ecological, andsports associations, in May we alsocontributed to the FondazioneProvvida Madre to organize “giostrein-testa”, a non-stop concert with DavideVan De Sfroos, Vad Vuc, and manyother singers who performed on the stage set up at Riva San Vitale toentertain the public and to support the Foundation’s work with disabledminors and adults.

The cornerstone for our new Mendrisioheadquarters was laid on 31 March2011. The Mayor of Mendrisio and theDirector, after presenting the plan tolocal and regional authorities, officiallyconfirmed the commencement ofwork.

Activities with our stakeholders

15 teams composed of our employees participated in trainingdays devoted to learning and sharing the Company’s valuesand principles.

6766

The second open day with students ofthe Innovative Technologies Departmentof SUPSI was held in 2011, with aguided tour of our production facilities,discussions with Argor-Heraeus engi-neers, and the presentation of a 3,000 franc award for the best diplomaearned in school year 2010/2011.Theday is part of our policy to support andstimulate technical training in Ticino.

With the aim of providing a positive and stimulating work environment, theCompany’s sports/recreation group organises sports activities, gatherings,and entertainment during the year for all employees and their families,such as our successful football tourna-ment (held for charity), winter ski trips,and summer picnics.

At our traditional Christmas dinner, we spent a pleasantevening with our employees outside the work environmentto reinforce team spirit and celebrate the holidays.

In December, approximately 12 months from the start ofworks to expand our headquarters, the structure of the facility was finished. A toast and a party were organised tocelebrate with everyone who devoted their energy andcommitment to the site.