Du är här

2015-10-01

Pöyry Oyj: World Bank Sanctions Board's decision relating to a Pöyry subsidiary

PÖYRY PLC Press release 1 October 2015 at 9 pm (EEST)

World Bank Sanctions Board's decision relating to a Pöyry subsidiary

The World Bank Sanctions Board has issued a decision imposing a one (1) year
sanction on Pöyry Finland Oy, a subsidiary company of Pöyry PLC. The decision
means that Pöyry Finland Oy (including its subsidiary companies) cannot
participate in World Bank Group financed projects for a period of one (1)
year from 30 September 2015. Neither Pöyry PLC nor any other subsidiary
companies of Pöyry PLC are affected by this sanction, and remain eligible to
participate in World Bank Group financed projects.

The decision relates to a water sector project in Vietnam in 2008, where Pöyry
Finland Oy (as successor to Pöyry Environment Oy) was found to have not
complied with the Bank's administrative rules. No unlawful conduct by Pöyry
Finland Oy or its employees has been identified in this connection.

"We are pleased that this long-running process with the World Bank is now
concluded. The decision by the World Bank Sanctions Board is a consequence of
conduct by former employees of Pöyry which occurred almost seven (7) years
ago. We take all compliance matters extremely seriously and have brought
forward significant improvements since that time. Pöyry remains committed to
building an effective world-class compliance programme across our whole
business. Project management excellence is at the heart of our strategic
evolution", says Pöyry's CEO and President, Alexis Fries.

"Pöyry has invested a great deal in creating a pragmatic and effective
compliance programme over the years. We work hard to ensure the understanding
and implementation of the programme in all our operations", says Pöyry's
Chief Compliance Officer, Andrew Hartley.

Every one of our 6000 people, across our 45 countries receives regular Code of
Conduct compliance training covering many real life scenarios and how to
handle them. Pöyry strives for the highest standards of ethics and integrity
in all of its business activities worldwide.

PÖYRY PLC

Additional information by:

Anne Viitala
Executive Vice President, Legal and Communications
Group General Counsel
+358 10 3311

Pöyry is an international consulting and engineering company. We serve clients
globally across the energy and industrial sectors and provide local services
in our core markets. We deliver management consulting and engineering
services, underpinned by strong project implementation capability and
expertise. Our focus sectors are power generation, transmission&distribution,
forest industry, chemicals&biorefining, mining&metals, transportation and
water. Pöyry has an extensive local office network employing about 6,000
experts. Pöyry's net sales in 2014 were EUR 571 million and the company's
shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pöyry Oyj via Globenewswire

HUG#1956212

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.