Our Bureau
12:27 PM, August 27, 2014
Finmeccanica Unaware Of Indian MoD Reports
Finmeccanica VVIP Chopper Deal

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.

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