Middle East

Dutch firm investigates illegal activities at UAE subsidiary

Dubai: Imtech has initiated an investigation into certain sales activities by an Imtech Marine entity in the United Arab Emirates in relation to potential violations of applicable export controls and sanctions regulations, the company admitted in a release.

The Imtech Marine entity in the United Arab Emirates is a unit with annual revenue of around EUR15m.

“The initial investigations indicate that potential violations relate to a relatively small percentage of this revenue,” Imtech said in a statement.

The Dutch engineering firm was hit by an accounting scandal in Poland and Germany in 2013.  [14/01/15]

Back to top button