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Liebherr investigates alleged South African payments scheme
July 17, 2017 / 12:45 PM / in 5 months

Liebherr investigates alleged South African payments scheme

ZURICH, July 17 (Reuters) - Swiss-based Liebherr said on Monday it is investigating allegations in South Africa it was among heavy equipment makers that made payments to politically connected individuals as it sought contracts to supply cranes to the nation’s ports.

The news outlet Daily Maverick cited banking and accounting records it said show Liebherr-International AG and China's Shanghai Zhenhua Heavy Industries Limited made payments to companies associated with a family close to President Jacob Zuma as part of deals with rail and logistics company Transnet. [bit.ly/2u10yf6 ]

“We will fully investigate the background to the matter and have already taken the necessary steps to do so,” Liebherr said in a statement to Reuters. “We currently expect the investigation’s results during next week.”

Previously, Europe’s top technology company, SAP put four senior managers in South Africa on leave and began a probe into similar allegations. (Reporting by John Miller)

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