Finmeccanica to reconsider business in India if blacklisted

[mehboobkz]

MILAN: Italian defence company Leonardo Finmeccanica has threatened to reassess its business in India , a few days after New Delhi said it would blacklist the company over the alleged payment of bribes to win a large helicopter contract.

Former executives of the state-controlled conglomerate were found guilty last month after being tried in Italy on corruption charges relating to a 560 million euro ($624 million) contract in 2010 to supply a dozen helicopters to the Indian government.


Finmeccanica has distanced itself from the allegations, saying the case is against the individuals rather than the company, but India's defence minister said the company would be banned from future government tenders.

Manohar Parrikar made the comments after India's top court allowed an Italian marine accused of murdering two fishermen to be freed and flown back to Italy in another case that has soured relations between the two countries.

Responding to the minister's comments, Finmeccanica issued a statement saying that its business in India is "very marginal".

"The Company hopes that an agreed and transparent solution is found as soon as possible to shed light on current initiatives and future business opportunities," it said.

"Should this not be the case, the company will not refrain from assessing the situation given the limited size of ongoing business in the country."

Since his appointment in May 2014, Finmeccanica CEO Mauro Moretti has worked to improve the company's reputation and streamline the organisation to increase transparency.

In its statement on Monday the defence group stuck to its previous full-year guidance of 20 billion euros in orders and core profit of 1.22 billion euros to 1.27 billion euros, saying that new Indian orders have not been included in its budget forecasts over the past few years.

http://economictimes.indiatimes.com...india-if-blacklisted/articleshow/52515176.cms

 

[third eye]

Finmeccanica has distanced itself from the allegations, saying the case is against the individuals rather than the company, but India's defence minister said the company would be banned from future government tenders.

Is there a difference between a Company & individuals who represent it ?

 

[Skull and Bones]

If they are black listed, then they'd have to reconsider their business in India anyway. Talking about ambiguous statement.

 

[mehboobkz]

Is there a difference between a Company & individuals who represent it ?

There is a difference between being on a company's payroll or not.

How is a commission agent an employee of LIC in India?






Finmeccanica to reconsider business in India if blacklisted:

To me it seems like its a veiled threat: We will not ship any spare parts any more.

 

[Alpha Fighter]

There is a difference between being on a company's payroll or not.

How is a commission agent an employee of LIC in India?






Finmeccanica to reconsider business in India if blacklisted:

To me it seems like its a veiled threat: We will not ship any spare parts any more.

well might be right, but India can take from black market or can replace them ...... They have bought tanks which are made of junk. Congress - Italy have hands in Hand.

India need to permanently black list Italy companies, other companies ready to take it place. They cant afford to ignore world largest market.

 

[sathya]

They veto MTCR membership, shot two civilians, got back 2sailors after 4 years

All India did, held its own order. After Italy court proved corruption in deal.