Odebrecht, now known as Novonor, has been in the news due to its involvement in a major corruption scandal that came to light in 2014. The conglomerate was accused of paying bribes to secure contracts in several countries, leading to investigations and legal actions in Brazil and other nations. This scandal had far-reaching consequences, resulting in the company facing significant financial penalties and tarnishing its reputation globally.
Novonor, formerly Odebrecht S.A., is a Brazilian conglomerate with its headquarters in Salvador, Bahia, Brazil. The company has diverse business interests, including engineering, construction, chemicals, and petrochemicals. Odebrecht was founded in 1944 and grew to become one of the largest construction companies in Latin America. However, the corruption scandal that emerged in the mid-2010s had a profound impact on the company, leading to restructuring and a name change to Novonor as part of its efforts to distance itself from its tainted past.