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Andritz on BankTrack’s black list of companies
Vienna, Jun 17 2010
Today the international NGO-network BankTrack added Andritz AG to their list of firms with particularly devastating social and environmental practices. The Austrian company is now listed with firms like Exxon Mobil, Lockheed Martin or Walmart. Reasons behind this are the company's continuing participation in the Ilisu Dam project in south-eastern Turkey as well as their involvement or planned involvement in further destructive projects, such as the Belo Monte Dam in Brazil or the Bell Bay Pulp Mill in Tasmania.
View the company profile of Andritz at the BankTrack website.
Johan Frijns, Coordinator of BankTrack: "We've added Andritz to our black list because they have developed into a globally operating company which does not comply with international social and ecological standards. Andritz continues to participate in projects even when other companies pull out. No bank aspiring towards sustainability should be seen financing such a company."
BankTrack is an international NGO-network which monitors commercial banks and investment activities and informs the investor community (bank analysts, companies, pension funds, etc.) and the general public about the social and environmental impacts of their operations.
Only a few days ago Andritz declared that they would continue their involvement in the Ilisu Dam project even though Germany, Austria and Switzerland withdrew from the project after two years of close monitoring of project developments. While three European banks and German and Swiss companies followed their recommendations and also pulled out of the project, Andritz continues its involvement.
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