DutchNews.nl,
Tuesday 18 March 2014
 |
The former
management of a subsidiary of civil engineering group Imtech did have ‘overly
informal contacts' with Swiss civil servants, giving them ‘excessive entertainment’,
the company confirmed on Thursday.
'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,' the Imtech statement said.
'This was
reflected in excessive entertainment, overly informal contacts and questionable
business behaviour. Also a conflict of interest by Fritz & Macziol Schweiz
management was identified.'
The head of
Fritz & Macziol resigned last month when the corruption allegations first
emerged.
The case is
being investigated by the Swiss authorities and the rest of the management is
also being replaced, Imtech said in an update on the investigation.
Scandals
Imtech was
also involved in two scandals last year, one in Poland and one in Germany. Both
of them involved financial fraud and helped drive the company to a €700m loss
over 2013 as a whole.
The company
also said on Tuesday it had turned over almost €5bn in 2013, 8% down on 2012.
Weak performances in Germany and eastern Europe were partly to blame.
The company
is now focusing on debt reduction and has signed a new agreement with its banks
to facilitate this, Imtech said in a statement.
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