The study, launched in January 2018, relates to the potential for bribery, corruption and money laundering involving a UK subsidiary, Chemring Technology Solutions Limited (CTSL) and an intermediary representing its predecessor. I am.
In a statement to the London Stock Exchange, the Hampshire-based company said, “Kemling is fully cooperating with the SFO through the investigation and is pleased that the issue has been resolved.” Always in an ethical and responsible way. “
Chemring reported to SFO when the investigation began. According to a statement issued at that time, the issue was related to two “historical contracts,” one of which preceded Chemring’s ownership of CTSL. He also said that the contract has no significant implications for the group.
A company that designs aircraft defense systems such as decoys, flares, detonators, and grenades. In November 2018, it was revealed that legal costs related to the SFO investigation had already reached £ 13 million. In June, it reported a pre-tax profit of £ 33.1m, up 22% over the six months to April 30.