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SFO starts probe at Amec Foster Wheeler

12 July 2017 07:27

Amec Foster Wheeler has confirmed it is under investigation by the Serious Fraud Office.

The group said the probe also included predecessor companies and associated persons in respect of the Foster Wheeler business.

Amec Foster Wheeler had previously announced on 23 May that there might by an investigation.

It has confirmed that this has now opened and would focus on the past use of third parties and possible bribery and corruption and related offences.

The group said: "Amec Foster Wheeler takes its obligation to conduct business ethically very seriously and has in place a robust global anti-bribery programme, including a detailed code of conduct and anti-bribery and corruption policies.

"Amec Foster Wheeler continues fully to co-operate with and assist the SFO.

"Given the stage of this matter, it is not possible to estimate reliably what effect the outcome of it may have on Amec Foster Wheeler.

"However, the SFO's investigation is not expected to have an impact on the completion of the merger of Amec Foster Wheeler and John Wood Group, which is expected to take place in the fourth quarter of this year."

Story provided by StockMarketWire.com

Related Company: AMFW

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