Our Bureau
03:36 PM, August 29, 2014
Italian Judge Closes Indian VVIP Helicopter Case Against AgustaWestland: Finmeccanica

In connection with the judicial proceedings regarding the supply of 12 AW101 VVIP helicopters to the Indian Government, Finmeccanica today said that the judge for pre-trial investigations has decided today to grant the request for monetary measures made by the two Finmeccanica-owned companies AgustaWestland SpA and AgustaWestland Ltd, jointly with the Public Prosecutor. 

The judge has, in accordance with the said requests, decided to endorse the imposition of an 80,000 Euro fine regarding AgustaWestland SpA and of a 300,000 Euro fine, alongside the confiscation of 7.5 million Euros, regarding AgustaWestland Ltd. 

As is known on July 25 last the Italian Prosecutor has discontinued investigations against Finmeccanica acknowledging the non-involvement of the Company in the alleged wrongdoing and recognizing that since 2003, Finmeccanica has implemented an organizational, management and audit model, sufficient to prevent unlawful conduct, whilst ensuring that attention is given to compliance processes in order to uphold the adequate standards of ethics and appropriate conduct. 

Finmeccanica is Italy’s leading manufacturer in the high technology sector and ranks among the top ten global players in Aerospace, Defence and Security. In 2013 Finmeccanica generated revenues of 16 billion Euro and obtained orders for 17.6 billion euro, with about 64,000 employees operating in 362 sites (of which 138 industrial facilities) in 22 countries worldwide. 

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