Paris, September 5, 2012
The Paris Criminal Court issued a judgment today on the acts of corruption which, according to the judge, were reported to have been committed in Nigeria by Sagem during the years 2000 to 2003.
The court believes that a breach of law would be established and that it would involve the criminal liability of the company Sagem (which merged with Snecma in 2005 to form Safran).
Safran disagrees with this decision.
The information given in the court showed in fact that no senior executives of Sagem were aware of the reported acts of corruption at the time when they occurred.
The public prosecutor of Paris concluded by requesting that the case against Sagem and its senior executives be dismissed for lack of evidence. The judge himself, Mr. Renaud Van Ruymbeke, cleared the senior executives of Sagem, noting that they were not aware of the corruption in question.
Since the good faith of the senior executives of Sagem, who held their positions when these acts of corruption were said to have been committed, has been admitted, this situation would seem to exclude the criminal responsibility of the legal entity Sagem.
Safran has therefore decided to apply to the Paris Court of Appeal.
Safran states in no uncertain terms that it assigns top priority to strict compliance with anti-corruption regulations.
It has taken all necessary measures to meet this objective, in particular by drawing up a set of ethics guidelines and a substantial body of rules, which is continuously perfected.
A previous statement ("Zero tolerance of corruption") clearly reflects this position, and also indicates the importance that Safran attaches to social responsibility, ethics and the fight against corruption.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Safran group has close to 60,000 employees and generated sales of 11.7 billion euros in 2011. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.3 billion euros in 2011. Safran is listed on NYSE Euronext Paris and is part of the CAC40 index.
For more information, www.safran-group.com
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