Photo courtesy Imtech
AMSTERDAM, Jan 13 (Reuters) – Dutch engineering and construction company Imtech has launched an investigation into the possible violation of export controls and sanctions regulations at its marine services business in the United Arab Emirates, it said on Tuesday.
The company, which was hit by an accounting scandal in Poland and Germany in 2013, said the investigation was being conducted with the help of external legal counsel and experts.
The business in question has annual revenue of around 15 million euros ($17.8 million).
Imtech, which lost hundreds of millions of euros in Poland and Germany due to fraud, said it had disclosed the investigation to authorities. It did not give further details.
It also said an internal investigation in Germany had determined no laws had been broken. The company started that investigation in November, examining allegations it operated a cartel to overcharge German energy company RWE for the building of a power plant.
($1 = 0.8440 euros) (Reporting by Anthony Deutsch; Editing by Mark Potter)
© 2015 Thomson Reuters. All rights reserved.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 109,111 members that receive our newsletter.
Have a news tip? Let us know.
Global marine fuel sales jumped in 2024 after attacks by Yemen's Houthis starting in late 2023 prompted most shipping companies to divert vessels around southern Africa rather than through the Red Sea, according to data and analysts.
Suez Canal Authority chief Osama Rabie said he expects traffic through the Egyptian waterway to gradually return to normal by late March and fully recover by mid-year, as long as the Gaza ceasefire holds up.
Liquid natural gas producers have been avoiding the Red Sea for much of 2024 amid continuous attacks by Houthi militants. This may now be changing as the first LNG carrier...
Maritime and offshore news trusted by our 109,111 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
