On further research of Cardno I have found that the company is currently involved in some unwanted media attention. There have been claims of questionable payments in the Ecuadorian part of the company, click here to read more: http://www.afr.com/business/infrastructure/cardno-knew-of-questionable-ecuador-payments-as-early-as-january-acting-ceo-graham-yerbury-20150303-13tda2 or http://www.couriermail.com.au/business/cardno-calls-in-investigators-after-raising-alarm-about-payments-tied-to-contracts-in-ecuador/story-fnihsps3-1227245227865.
Also, this revelation comes at a difficult time as in the last few months they have not only lost one-third of their share-price they have also lost their Chief Executive Michael Renshaw.
What an interesting blog to read. Cardno was a customer at my previous place of employment so it was interesting to read about them.
ReplyDeleteI assume they would be feeling the crunch of the mining downturn at present too?
Hi Natasha, thanks for your comment. Yes it is quite interesting how many companies and individuals suffer the flow on effect of the mining downturn.
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