GTT: Information about the KFTC investigation
Information about the KFTC investigation
Paris – October 19, 2020. As part of the investigation concerning GTT’s commercial practices with the Korean shipyards1, the Korea Fair Trade Commission announced on Saturday that a hearing of the case is scheduled on October 21st 2020. This follows the issuance from the Korea Fair Trade Commission of a confidential Examiner Report.
The Examiner Report sets out the preliminary conclusions of the Korea Fair Trade Commission’s case team, following its investigation.
The Examiner Report does not prejudge the outcome of the procedure. It opened a new phase, during which GTT and its counsels have responded in writing to its conclusions, in preparation for the hearing. GTT and its counsels will participate in this hearing.
GTT expects the procedure to come to an end in the next few months. In the meantime, GTT, which is fully cooperating with the Korea Fair Trade Commission, intends to continue the conduct of its business to the benefit of all stakeholders.
About GTT
GTT (Gaztransport & Technigaz) is a technological and engineering company expert in containment systems with cryogenic membranes used to transport and store liquefied gas, in particular LNG (Liquefied Natural Gas). For over 50 years, GTT has been maintaining reliable relationships with all stakeholders of the gas industry (shipyards, ship-owners, gas companies, terminal operators, classification societies). The company designs and provides technologies which combine operational efficiency and safety, to equip LNG carriers, floating terminals, and multi-gas carriers. GTT also develops solutions dedicated to land storage and to the use of LNG as fuel for the vessel propulsion, as well as a full range of services.
GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in SBF 120 and MSCI Small Cap indices.
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1 See Press Release from GTT on January 29th 2016 and section 2.2.3.1 from its Universal Registration Document
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