Monday, March 13, 2006

British Companies Make Fortune From Iraq

British businesses have profited by at least $1.1 m pounds since the Iraq invasion 3 years ago, the 1st comprehensive investigation into UK corporate investments in Iraq has found.
The company's roll-call of post-war profiteers include some of the best known names in Britian's boardrooms, as well as many who would prefer to remain anonymous. They include private security firms, banks, PR consultancies, urban planning consortiums, oil companies, architects & energy advisory boards.
One of the top profiteers is the construction firm Amec, which made an estimated $500 m pounds from a series of contracts restoring electrical systems & maintaining power generation facilities during the past 2 years. Aegis, which provides private security has earned more than $ 246 m pounds from a 3 year contract with the Pentagon to co-ordinate military & security companies in Iraq.
These findings show how much is at stake if Britain were to withdraw it's military from Iraq. Iraq will be forced to rely on British buisness for many years to come.
A total of 61 British companies are identified as benefiting from at least $ 1.1 b pounds of contracts & investments in Iraq. Corporate Watch believes this number could be as much as 5 times higher, due to many companies prefering to keep their relationships secret. The goverment is refusing to release the names of companies it has helped to win contracts in Iraq.
Many of the companies enjoy long-standing relationships with the Labour party & now have a financial stake to win contracts in Iraq.
Hmmmm, sound familiar?? More disgusting war profiteering from the goverments (US/UK) who orchestrated the invasion of Iraq for oil, money, & large, lucrative business contracts. The world should be outraged that these goverments are profiting off of the lives of the fallen US/UK soldiers, as well as the Iraqi people. The proof is in the pudding.
Top 10 Firms Profiting From Iraq (UK):

1.) AMEC= $500 m pounds. Global management company specialising in the oil & gas engineering sectors.

2.) Aegis= $ 246.5 m pounds. Oversee's all private security operations.

3.) Erinys= $ 86 m pounds. Specialises in security for the petroleum, construction & mining industries.

4.) Petrel Resources= $ 56.6 m pounds. Oil & gas exploration company, seeking licences to run 3 exisiting oil wells in Iraq.

5.) HSBC= $ 36.88 m pounds. 3rd largest financial institution in the world. Has bought 70% of recently established Iraqi bank.

6.) Cummins UK= $ 25.8 m pounds. World's largest manufacturer of diesel engines.

7.) PB Power= $ 24.88 m pounds. Global engineering & construction firm.

8.) Control Risks= $ 23.5 m pounds. Risk consultancy business, provides govermental & corporate clients with security management, discreet armed protection, & info support.

9.) Merchant Bridge= $ 22.07 m pounds. Investment banking group focusing on telecommunications, real estate, construction, financial services, info technology & hotels in Iraq.

10.) Global Risk Strategies= $ 15.4 m pounds. Risk management company, advises on corporate security & counter-terrorism strategies.