Yara has uncovered further unacceptable payments
(Thomson Reuters ONE) -
Oslo (23-03-2012): Yara International ASA initiated on 8 April 2011 an external
investigation of possible corruption. The investigation has now uncovered
unacceptable payments from the company's joint venture in Switzerland. The
Norwegian National Authority for Investigation and Prosecution of Economic and
Environmental Crime (ØKOKRIM) has been notified of the new findings.
"We will get to the bottom of this. Such breaches of Yara standards are
unacceptable, but I am satisfied that Yara initiated the external investigation,
enabling us to uncover these new incidents. At the same time, I am naturally
both upset and disappointed that we have made additional findings," said Jørgen
Ole Haslestad, President and CEO of Yara International.
In parallel with the implementation of the external investigation in April last
year, Økokrim was informed that possible offenses could have taken place prior
to October 2008 in connection with the establishment and follow-up of Yara's
ownership in Libyan Norwegian Fertilizer Company (Lifeco). The investigation is
still ongoing and was in May 2011 extended to cover other projects including
India. Jan Fougner, partner in the law firm Wiersholm, is heading the
investigation. The Board of Directors follows up this work through a separate
committee. Yara cooperates closely with Økokrim throughout the investigation to
bring forward all relevant information. The new findings are based on documents
made available by Økokrim.
Further investigations are now taking place to clarify how such payments have
been carried out and authorized. The main findings will be published when the
investigation report is finalized.
For further information, please contact:
Esben Tuman, Media Relations
Phone: (+47) 24 15 70 26
Mobile: (+47) 905 08 400
E-mail: esben.tuman(at)yara.com
Bernhard Stormyr, Media Relations
Mobile: (+47) 901 07 685
E-mail: bernhard.stormyr(at)yara.com
Thor Giæver, Investor Relations
Phone: (+47) 24 15 72 95
Mobile: (+47) 480 75 356
E-mail: thor.giaver(at)yara.com
Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
www.yara.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Yara International ASA via Thomson Reuters ONE
[HUG#1596684]
Unternehmensinformation / Kurzprofil:
Datum: 23.03.2012 - 07:01 Uhr
Sprache: Deutsch
News-ID 127785
Anzahl Zeichen: 3476
contact information:
Town:
Oslo
Kategorie:
Business News
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"Yara has uncovered further unacceptable payments"
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