Imtech: Update on the Fritz & Macziol Schweiz investigation
March 18 2014 - 2:00AM
As announced in our press releases of 19 and 26
February 2014, Imtech started an internal investigation following
media coverage which contained allegations of unethical business
behavior by former management of Fritz & Macziol Schweiz. This
behavior allegedly included excessive gifts and entertainment
offered to Seco civil servants.
The internal investigation initiated by Imtech was conducted by a
substantial external team of lawyers, accountants and forensic
experts. The office of the public prosecutor in Switzerland has
also initiated criminal investigations. Imtech is fully cooperating
with the Swiss authorities.
The initial findings by Imtech confirm that there existed a
non-business like relationship between former management of Fritz
& Macziol Schweiz and certain Seco civil servants. This was
reflected in excessive entertainment, overly informal contacts and
questionable business behavior. Also a conflict of interest by
Fritz & Macziol Schweiz management was identified. Fritz &
Macziol Schweiz is at this stage not a suspect in the Swiss
criminal investigations.
At this stage our investigations have not yet been completed due to
amongst others the ongoing criminal investigation by the Swiss
Authorities. Therefore it is too early to draw final conclusions.
Imtech will provide a further update when applicable.
The management of Fritz & Macziol Schweiz has been replaced. As
a consequence of the adverse publicity, Fritz & Macziol Schweiz
(45 employees) needs to restructure its organization. The potential
financial exposure of this affair is at this moment difficult to
assess, but judged to be limited.
Imtech strongly rejects any unethical business behavior and has
further tightened its already strict policies on matters like
sponsoring, gifts, hospitality and conflicts of interest.
More
information
Media: |
Analysts &
investors: |
Dorien Wietsma
Director Corporate Communication & CSR
T: +31 182 54 35 53
E: dorien.wietsma@imtech.com
www.imtech.com |
Jeroen Leenaers
Director Investor Relations
T: +31 182 54 35 04
E: jeroen.leenaers@imtech.com
www.imtech.com |
Imtech
profile
Royal Imtech N.V. is a European technical
services provider in the fields of electrical solutions, ICT and
mechanical solutions. With approximately 26,000 employees, Imtech
is active attractive positions in the buildings and industry
markets in the Netherlands, Belgium, Luxembourg, Germany, Austria,
Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain,
the European markets of ICT and Traffic as well as in the global
marine market. In total Imtech serves 24,000 customers. Imtech
offers integrated and multidisciplinary total solutions that lead
to better business processes and more efficiency for customers and
the customers they, in their turn, serve. Imtech also offers
solutions that contribute towards a sustainable society - for
example, in the areas of energy, the environment, water and
traffic. Imtech shares are listed on the NYSE Euronext
Amsterdam.
PDF: Press Release
This
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behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Imtech via Globenewswire
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