US news reports indicate that a United States-based company recently chosen to end the threat of piracy off Somalia�s coast has a troubled financial history.
Top Cat Marine Security, which signed a two-year, $55 million deal with the Somalia government in Nairobi on Friday, failed at one point last year to meet its payroll, according to The Post and Courier, a newspaper published in Charleston, South Carolina, where Top Cat had been operating.
The paper also reported that Peter Casini, Top Cat�s head of research and development, "is tied to a string of failed business ventures and corporate bankruptcies." Casini took part along with Somalia Prime Minister Mohamed Ali Gedi in the contract signing ceremony in Nairobi.
While Mr Casini denied the reports, he was reluctant to answer questions when contacted on the telephone.
On whether the company had failed to meet its payroll, he said: "No. You may be talking about the wrong company. Our company is Top Cat Design.''
However, contacted via e-mail for comment, Maryann Johnson, Top Cat's vice president for public relations, said the story "was written years ago, by a small town reporter whose sole source of information was a convicted felon. Topcat was never contacted directly for comment on this article".
Ms Johnson said: "Topcat remains financially secure and stable, with contracts around the world with some of the largest defence contractors."
She also said that Mr Casini was head of research and development and had been awarded the notable honour of being named one of the top three boat designers in the world.
She added that Mr Casini was an employee and not the owner of the company.
In signing the deal with Somalia, Casini said his company would target a mother ship off the Somali coast that is launching smaller craft to attack commercial vessels.
Top Cat has carried out contracts with government agencies in the US.
Last February, it delivered its Cobra Predator Patrol Boat to a counterterrorism team in the state of Maryland. The boat was purchased to help safeguard a nuclear power plant near Washington, DC.
A United States senator has also praised the effectiveness of Top Cat�s Cobra Predator.
Source: Nation Media(Kenya)
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