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Wed 31 Mar 2010 11:54 AM

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Agility delays results, awaits US settlement

Agility may seek suspension in trading on its shares on Kuwait's KWSE from Thursday.

Agility delays results, awaits US settlement
(Getty Images)

Agility, the biggest storage and logistics company in the Middle East, delayed announcing its 2009 results as it waits for a settlement to a contract dispute with the US military. Agility may seek suspension in trading on its shares on Kuwait Stock Exchange from Thursday, according to a company statement to the bourse today.

Agility, formerly known as Public Warehousing Co, was indicted in November for allegedly overcharging the US government on a multi-billion dollar contract to supply food for troops in Kuwait and Iraq. The company said in November it was negotiating with the U.S. Justice Department on a settlement of the charges.

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