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Hempel resolves bribery case with European authorities for $33.3M

Jaclyn Jaeger | March 13, 2019

Global coatings manufacturer Hempel has reached a settlement with Danish and German authorities and agreed to a fine of 220 million Danish krone (U.S. $33.3 million) concerning bribery payments made to ship managers in Germany.

The fine will be paid to SØIK (the Danish State Prosecutor for Serious Economic and International Crime) and the prosecution authority in Kiel, Germany. “DKK 123 million was expensed in Hempel’s financial statements for 2016, with the remaining part in the financial year 2018,” Hempel said.

The fine is the result of numerous illegal sales practices that took place in Europe and Asia, which Hempel said it uncovered and self-reported to SØIK in April 2017. According to Hempel, its internal rules were deliberately circumvented. “The unlawful activities were a direct attack on the integrity of Hempel’s customers, culture, values, and all our...

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