Norwegian global fertilizer producer Yara International has initiated an external investigation which has now uncovered unacceptable payments from the company's joint venture in Switzerland, Norway Post reported. The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (OKOKRIM) has been notified of the new findings. "We will get to the bottom of this. Such breaches of Yara standards are unacceptable, but I am satisfied that Yara initiated the external investigation, enabling us to uncover these new incidents.
At the same time, I am naturally both upset and disappointed that we have made additional findings," said Jorgen Ole Haslestad, President and CEO of Yara International.
In parallel with the implementation of the external investigation in April last year, Okokrim was informed that possible offenses could have taken place prior to October 2008 in connection with the establishment and follow-up of Yara's ownership in Libyan Norwegian Fertilizer Company (Lifeco). The investigation is still ongoing and was in May 2011 extended to cover other projects including India.