Italian Prosecutor halts investigations into Finmeccanica over Indian AW101 contract

Italian Prosecutor halts investigations into Finmeccanica over Indian AW101 contract

30-Jul-2014 Source: Finmeccanica

Finmeccanica announces that the Italian Prosecutor has discontinued investigations relating to the contract for 12 AW101 VVIP helicopters signed with the Indian Ministry of Defence in 2010.

The Prosecutor specifically acknowledged the non-involvement of Finmeccanica in the alleged wrongdoing, recognizing that that since 2003, Finmeccanica has implemented – and regularly updated – an organizational, management and audit model, sufficient to prevent unlawful conduct, whilst ensuring that significant attention is given to compliance processes in order to uphold the adeguate standards of ethics and appropriate conduct.

Furthermore, AgustaWestland S.p.A. and its subsidiary AgustaWestland Ltd., together with the Prosecutor, have agreed to apply for a negligible fine, whilst confirming the appropriateness of their internal control systems and specifically their non-involvement in the misconduct alleged by the Prosecutor. This decision is not in any way an admission of any wrongdoing or liability.

The decision to settle with the Prosecutor was taken, in light of the reorganization underway within the Finmeccanica Group, to refocus energies on business and market opportunities globally.

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