Fertilizantes Heringer SA, Viana, Brazil, on Aug. 18 said it is investigating possible fraud in the contracting of maintenance services. It said internal investigations have preliminarily identified the main irregularities reported through its ethics channels refer to maintenance services to the company’s equipment and facilities that were possibly overpriced.
It said that if such are confirmed in the future, it is possible that there may be an impact or impairment on the value of certain fixed assets, consequentially reducing the company’s book equity. Heringer reiterated that every effort will be made to quickly conclude the investigations and confirm any accounting impacts.