Finmeccanica plans to make a comeback in India even if it means paying a penalty for bribery allegations against its subsidiary AgustaWestland in the VVIP chopper deal, Hindustan Times, a national daily reported Monday.
Earlier this year, India imposed a partial ban on Finmeccanica and its subsidiaries after scrapping the $606 million deal to buy 12 VVIP helicopters from AgustaWestland.
However, the company says it is prepared to put a new proposal to mend ties with India. “Everything is on the table, including the possibility of paying a penalty to settle the matter. It doesn’t mean we are guilty. It’s just that we want to end the deadlock and regain the government’s confidence.” Mauro Moretti, the new CEO of Finmeccanica was quoted as saying by the newspaper.
“Legal proceedings in Italy had exonerate the firm and held it was not criminally liable for the alleged actions of former top executives. AgustaWestland, however, paid around $449,000 as fine after the firm entered into a settlement with the prosecutors,” he said.
The verdict in the cases against former Finmeccanica CEO Giuseppe Orsi and former AgustaWestland boss Bruno Spagnolini is expected this week, the report said.
Moretti added that he has written to defense minister Arun Jaitley and sought to discuss the outcome of the legal proceedings in India.
AgustaWestland is sueing the U.S
A third judge has been appointed at long last in the international arbitration requested by AgustaWestland against India after the cancellation of the 560 million euro AW101 helicopter contract in December. The news of the appointment comes only days after Indias Central Bureau of Investigation announced it has failed to find any evidence of bribery while the Italian magistrates have similarly dropped all charges against AW and its parent company, 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
AgustaWestland won a Euro 113 million (£90 million) UK Ministry of Defense (MoD) contract to integrate, test and install Future Anti Surface Guilded Weapon (FASGW) missiles onto 28 Royal Navy AW159 Wildcat helicopters. The missile systems are the MBDA FASGW (Heavy)/ANL (Anti Navire Léger) and the Thales Light Multirole Missile FASGW
AgustaWestland demonstrated Rotorcraft Unmanned Aerial System / Optionally Piloted Helicopter (RUAS/OPH) to the Italian Ministry of Defense. The trials were conducted to evaluate modern remote controlled rotorcraft technology and its potential to provide enhanced capabilities for the Italian armed forces in the future
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
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