Scandal-stricken Danish manufacturer presents historic deficit

Failing orders and delays have left a big mark at power plant manufacturer BWSC, which has located an increasing share of its business in the same region where a number of employees were fired due to bribery cases in February.

"2018 did not turn out as planned". That is the opening statement in Burmeister & Wain Scandinavian Contractor's (BWSC) letter from the Chief Executive in its annual report.

And that is no exaggeration. It has been a terrible year for the power plant manufacturer on all parameters. In terms of safety, BWSC had to report its first fatal accident in many years, in Estonia a bout of bribery cases led to pink slips and several employees being reported to the police, while the humdrum bottomline was historically poor with a net deficit of DKK 160 million (EUR 21.4 million).

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