Petrobras bans Techint, other builders in 'Car Wash' probe

Wednesday, December 31, 2014

Brazil's state-run oil giant Petrobras decided on Tuesday to ban 23 companies allegedly linked to a money laundering ring under federal police investigation, dubbed Operation Car Wash.

Among the blacklisted companies are Italian-Argentine industrial conglomerate Techint and Swedish construction firm Skanska, Petrobras said in a filing.

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"The adoption of preventative provisional measures by Petrobras aims to protect the company and its partners from damages that are difficult to redress financially and from harm to its image," added Petrobras.

Petrobras also blacklisted the country's biggest contractors Odebrecht, Camargo Correa and Andrade Gutierrez.

Other construction and engineering companies on the list are Alusa, Carioca Engenharia, Construcap, Egesa, Engevix, Fidens, Galvão Engenharia, GDK, IESA, Jaraguá Equipamentos, Mendes Junior, MPE, OAS, Promon, Queiroz Galvão, Setal, Tomé Engenharia, and UTC.