January 2, 2013 / 1:12 PM / 6 years ago

Shares of Brazil builder MRV Engenharia fall on slavery report

SAO PAULO, Jan 2 (Reuters) - Shares of Brazilian homebuilder MRV Engenharia e Participaçoes SA fell 2.7 percent on Wednesday after the company said an affiliated company was on a government list of firms subjecting employees to slavery-like working conditions.

The complaint referred to a firm contracted by MRV Engenharia in 2011 and with which it no longer has a relationship, the company said on Wednesday.

Last August, the company had two construction projects included on a Labor Ministry slavery list, though i t was able to clear its name in September.

In a statement, MRV said it was taking action to remove its name from the slavery register and “provide the due clarifications that are necessary to the responsible governing bodies and the market in general.”

Press representatives at MRV Engenharia and Brazil’s Labor Ministry were not immediately available for comment.

At 10:58 a.m. (1258 GMT), shares of MRV Engenharia were down 2.7 percent at 11.66 reais, while Brazil’s benchmark Bovespa index rose 2.41 percent to 62,418.14 points. (Reporting by Vivian Pereira; Writing by Asher Levine; Editing by Jeffrey Benkoe)

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