Finmeccanica today clarified in a statement that it has not received any official communication from any relevant authorities from India regarding the recent media reports on decisions made by the Ministry of Defense pertaining to its existing and future contracts in India.
Local media reported Monday that Finmeccanica and its subsidiaries will be allowed to continue doing business in India and will not face blacklisting. The Indian government has placed conditions, which will disallow the company from getting any new order where there is another vendor option, reports said.
The previous government had put all deals with the Finmeccanica group, its affiliates and subsidiaries on hold. The present Defense Ministry decision, for which orders have been issued, will allow the group to continue with ongoing business and compete in other deals.
“With reference to the many and often contradictory press articles concerning alleged decisions by the Indian MoD relating to existing contracts and future business with Finmeccanica companies, Finmeccanica would like to clarify that at the moment it has not received any official communication from any of the relevant authorities. Thus, Finmeccanica will not make any comments on these press reports,” Finmeccanica said in a statement.
Finmeccanica and its subsidiaries will be allowed to continue doing business in India and will not face blacklisting, according to a report published by India Today magazine. The Indian government has placed conditions, which will disallow the company from getting any new order where there is another vendor option, the report said
Indias long-awaited MMRCA project with Dassault could be affected in the wake of New Delhis decision to stay all future projects with Finmeccanica, its subsidiaries and affiliates. Finmeccanica holds a 25 per cent share in MBDA, a joint venture with EADS (now Airbus) and BAE Systems, which is pitching its Meteor air-to-air missile to India as a weapon for its planned fleet of 126 Rafale fighters
The Indian Ministry of Defense yesterday confirmed that it would indefinitely put on hold all projects with Finmeccanica and its subsidiaries, although the order has already been in place nearly a month. Defenseworld
The Indian Ministry of Defense on Tuesday said that all new deals with Finmeccanica, parent company of AgustaWestland, will be put on hold until further notice. "An internal circular/advisory has been issued to not further process any acquisition project in which Finmeccanica is in the fray as a vendor till we get the attorney general's opinion on the entire blacklisting issue in the VVIP helicopter case (the 556 million Euro contract was scrapped on January 1)," an MOD official was quoted as saying by The Times of India newspaper
The Central Bureau of Investigation (CBI) said that it would go ahead with its probe into a scrapped helicopter contract with Finmeccanica on Wednesday, a day after prosecutors in Italy agreed to settle legal proceedings against the defense group. Kanchan Prasad, a spokeswoman for CBI, told Reuters the development in Italy did not affect India's probe of the deal
Fincantieri and Finmeccanica signed a memorandum of understanding for naval vessels sector during the launching ceremony of Fincantieris “Pietro Venuti” submarine, the companies said in a joint statement Thursday. The submarine is the third unit of the four U212A “Todaro” class twin units ordered by the Central Unit for Naval Armament NAVARM for the Italian Navy
Finmeccanica plans to restore ties with India after an Italian court acquitted former CEO Giuseppe Orsi and former CEO of AgustaWestland Bruno Spagnolini of alleged bribery charges. “The verdict will allow us to reopen dialogue with Indian institutions, which was interrupted as a result of the investigations linked to supply of 12 AW101 VVIP helicopters to the Indian MoD,” the CEO and General Manager of Finmeccanica Mauro Moretti said in a statement
After years of delays, the Indian Ministry of Defense has cleared a proposal to buy 16 multirole helicopters worth $1 billion for the Navy. The clearance was reported given at the Defence Acquisition Council (DAC) yesterday meeting chaired by the Defence Minister Arun Jaitley, according to Indian media reports
The Indian Defence Ministry on Friday retracted a tender to procure 197 light choppers worth $1.5 billion which had been put on hold which has been on hold due to an ongoing bribery investigation
Defense Minister Arun Jaitley Wednesday reviewed the progress of the indigenous Scorpene submarine construction and other ongoing warship building projects, including the P-15B Class stealth destroyers, Press information Bureau reported. "With all the impediments and material hurdles resolved, the construction of the submarines is progressing on schedule to meet the planned delivery schedule of September 2016," the report said
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