Brief: Hifab Says Banned Temporarily From World Bank Funded Projects
16/04/2018 06:42
April 16 (Reuters) - Hifab Group AB HIFAb.ST :
* SAYS WORLD BANK GIVES ASSESSMENT THAT IT IS MORE LIKELY
THAN
UNLIKELY THAT HIFAB INTERNATIONAL EMPLOYEES WERE INVOLVED IN
CORRUPT ACTION
* SAYS THIS RESULTS IN SANCTION ISSUED FOR TWO EMPLOYEES AS
WELL
AS HIFAB INTERNATIONAL AB AND UNIT HIFAB OY
* HIFAB GROUP SAYS SANCTION MEANS THAT HIFAB INTERNATIONAL
AB AND
HIFAB OY DURING AT LEAST THREE YEARS AND ONE MONTH CANNOT
PARTICIPATE IN NEW PROJECTS FUNDED BY THE WORLD BANK
* SAYS HIFAB'S SWEDISH OPERATIONS IS NOT AFFECTED BY THE
SANCTION
Source text for Eikon: ID:nWkr3rkw11
Further company coverage: HIFAb.ST
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