In a statement the company said: “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 investigation is being conducted by an external counsel and experts. Imtech Marine in the UAE has revenues of around EUR15m ($17.6m) a year and the company said initial investigations showed a possible violations related to “a relatively small percentage of this revenue”.
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