YARIY Yara International ASA (PK)

   DOW JONES NEWSWIRES 
 

Norwegian fertilizer company Yara International ASA (YAR.OS) said Friday its investigation into possible corruption has now uncovered unacceptable payments from the company's joint venture in Switzerland.

"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," Yara Chief Executive Jorgen Ole Haslestad said.

The investigation was initiated in April last year after the company became aware of possible offenses related to its ownership in Libyan Norwegian Fertilizer Co. (Lifeco).

The investigation is still ongoing and was extended in May 2011 to cover other projects including India.

Further investigations are now taking place.

-By Dominic Chopping, Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com