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.
With reference to the verdict issued by the Busto Arsizio Court, the CEO and General Manager of Moretti expressed his “satisfaction at the absence of any elements of international corruption”.
The verdict, together with the decree filed on last 25 July which acknowledged that Finmeccanica was not involved in any wrongdoing, releases Finmeccanica, once and for all, from the damage incurred to its image, internationally, over the past few years, allowing the company to recover the reputation that it deserves.
Mr Moretti also said that he is “pleased that the positions of the two former managers involved in the case, Mr Orsi and Mr Spagnolini, have improved”.
Former CEO of Finmeccanica, Giuseppe Orsi and former CEO of AgustaWestland Bruno Spagnolini have been sentenced to two years in prison in the Indian VVIP helicopter deal scam. The duo have been found guilty of false invoicing and have been acquitted of alleged bribery charges
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
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
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
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
India and Russia may finally settle on a number of delayed defense deals including the Fifth Generational Fighter Aircraft (FGFA) program during Russian President Vladimir Putins visit to India this December. Putin met with Indian Prime Minister Narendra Modi during the BRICS summit in July where both leaders reportedly agreed that the $30 billion program to build 200 jets should move forward
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
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