Alstom Hydro France Released from Debarment

Alstom welcomes the determination of the World Bank’s Integrity Compliance Office (“ICO”) that Alstom has implemented a corporate compliance program in line with the World Bank’s integrity compliance guidelines. The ICO also concluded that Alstom has satisfied all of the other conditions of its 21 February 2012 settlement with the World Bank.

As evidenced by the independent compliance monitor established as part of this 2012 settlement with the World Bank, Alstom has further enhanced the design and implementation of its compliance program over the past three years under the guidance of the ICO, Alstom’s Ethics & Compliance Department and the monitor.

Under Alstom’s 22 December 2014 plea agreement with the US Department of Justice and based on this ICO’s conclusion, Alstom will not be required to engage any compliance monitor.

As of 21 February 2015, Alstom Hydro France, Alstom Network Schweiz, and their affiliates are released from their World Bank debarment and are now free to resume competing for projects financed by the World Bank Group and by other international institutions implementing cross debarment agreements with the World Bank.  

Alstom is committed to bidding on and executing all of its projects with ethics and integrity, consistent with Alstom’s Code of Ethics and the policies and procedures of its corporate compliance program.