The Federal Court of Brasilia establishes the immediate annulment of the effects of the prohibitory sanction issued by the Controladoria-Geral da União (CGU) against Saipem SA and Saipem do Brasil
Saipem SA and Saipem do Brasil are once again fully operational with state-owned companies in the Brazilian market, with immediate effect
Milan (Italy), December 23, 2024 – Following on from what has already been communicated to the market, Saipem is pleased to announce that on December 20, 2024, the Federal District Court of Brasilia, ruling on the petition of Saipem SA and Saipem do Brasil, established that the already obtained annulment of the CGU's order - which prohibited these companies from contracting with the Brazilian public administration for two years - is effective immediately.
As a result, Saipem SA and Saipem do Brasil, whilst pending the appeal proceedings, are once again fully operational with state-owned companies in the Brazilian market, with immediate effect.
For more information on the proceedings, please refer to the press release dated 17 October 2024 and the detailed description contained in the ‘Litigation’ section of the Consolidated Half-Year Financial Report as at 30 June 2024 of Saipem S.p.A.
Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into business lines: Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has 6 fabrication yards and an offshore fleet of 21 construction vessels (of which 17 owned and 4 owned by third parties and managed by Saipem) and 15 drilling rigs, of which 9 owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 120 nationalities.
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pdf - 12-2024