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October 7th, 2008

Read the original article One Million Weapons to Iraq; Many Go Missing

    Taos Industries provides logistical support, base operations and procurement services to the U.S. military.

     One of its specialties is organizing logistics and related services associated with equipment ordered by the U.S. military. In every such case, Taos’s sole customer is the U.S. government.

    Taos has documentation to show that every shipment made on behalf of the U.S. government was received and accounted for by the U.S. government. The documentation confirms that all shipments were made in compliance with international regulations. Information about those deliveries has been shared with the U.S. Congress.

    CorpWatch describes Taos as a “clandestine” company. In reality, its business is constrained by its ability to compete for and win U.S. government contracts that are a matter of public record.

     Taos is held accountable for its business practices by U.S. federal agencies, inspectors general, law enforcement authorities and oversight bodies within the departments of Defense, Treasury and Justice. As a matter of routine, it has to satisfy government requirements to show that its actions are legal and ethical. When it operates overseas, Taos is subject to local law and works closely with U.S. embassies and other authorities, such as NATO peacekeeping forces.

    CorpWatch takes the position Taos is culpable for equipment that went missing after delivery to the customer. None of the U.S. government inquiries into missing equipment arrived at that conclusion.

     The recent CorpWatch posting on Taos and its parent, Agility, recycles previously discredited assertions and repeatedly gets the facts wrong: on the history of Agility; on the timeline of various contracts; on unsubstantiated allegations of improper contacts with military officials; on a business dispute with a Kuwaiti businessman that was resolved in Agility’s favor; even on the citizenship of various individuals cited in the article.

     One of CorpWatch’s most basic mistakes is to describe Agility’s chairman as its owner. Agility is a publicly held company trading on exchanges in Kuwait and Dubai. It is owned by more than 20,000 shareholders, many of them large public and private institutional investors.