OCCRP on 24th April reported that the Techint group operates steel and iron factories, manufactures gas and oil pipelines and builds energy plants. It has been controlled by a family dynasty, and has been a mainstay of both the Italian and Argentinian economies since WW2. The $25 billion group, which reportedly includes 450 operating companies and a 75,000-strong workforce in 45 countries, has never before faced questions about the probity of its worldwide financial operations. It is said that journalists claim to have uncovered a previously unknown web of offshore entities used by Techint associates to shuffle money through tax havens and to pay bribes to Brazilian state companies. Denying the allegations, Techint’s Swiss and Italian subsidiaries told L’Espresso that the company would prove its innocence in court.