Wartsila Creating Troubles
Wartsila is not new to the notorious and worldwide despised act of bribery as indeed it is one such company that has made history in the recent times by being caught up in Sweden’s most scandalous bribery trial. See the rest of this entry…
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Wartsila Charged for Bribery
Wartsila Ltd a Finnish engine manufacturing company was lately held up in Sweden’s most scandalous bribery case. The public prosecutor has declared that “it is clear that Wartsila offered bribes to secure orders”.
According to Wartsila the payments were surely made, however not with the intention of bribery but some consultancy services it has availed.
Rederi AB Gotland a Swedish shipping line runs ferries from Gotland Island to mainland Sweden and vice versa. Of late Rederi AB Gotland custom-built two super fast ferries from a Chinese shipyard.
A total of eight main engines were supplied by Wartsila to the shipping line and six auxiliary engines for the vessels, along with propellers for one of them. The orders equaled to EUR 25-30 million. The M/S Visby commenced this year round.
Wartsila had two brokerage agreements with Euro Marine Ltd. This company was partially owned by the key suspect of this bribery case – the technical Director at the shipping company Bo Pettersson. Wartsila paid about EUR 1.1 million in two installments, one in year 2000 and the other in 2001 to the private Swiss bank account of Pettersson.
Finnish public prosecutor is contemplating the case as a grave matter under Swedish regulation.
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