Agreement reached between Sweco and the World Bank

Sweco and the World Bank have reached an agreement regarding misconduct by two Sweco employees, who have subsequently been dismissed from the company, in a tender process relating to a Bank-financed project in Eastern Europe. The agreement means that Sweco’s Water and Environment business in Sweden cannot participate in any World Bank Group-financed projects for three years.

“Our agreement with the World Bank is a natural consequence of the incident. The former employees have acted in a way that is totally against Sweco's policy and business ethics. This incident has been an opportunity to strengthen our processes and procedures to ensure that something similar will not happen again, says Tomas Carlsson,” President and CEO of Sweco.

Since the misconduct was revealed, Sweco has undertaken a comprehensive review of internal procedures and processes. In addition, training, clearer guidelines and new procedures for reporting improprieties have been implemented.

Sweco announced the suspected improprieties in a press release on 28 November 2012 and filed a police report of the incident.

For more information, please contact:

Tomas Carlsson, President and CEO, Sweco, +46 (0)8-695 66 60

Åsa Barsness, Communications Director Sweco, +46 (0)8-695 66 40

Sweco is the Nordic region’s leading sustainable construction consultancy. Our 9,000 engineers, architects and environmental experts develop sustainable, value-added solutions for our clients and for society. Sweco is among the ten largest engineering consultancies in Europe, carrying out projects in 80 countries annually throughout the world. The company has yearly sales of approximately SEK 9 billion and is listed on Nasdaq OMX Stockholm AB.