Ericsson (NASDAQ:ERIC) informs about an investigation in Greece relating to a defense agreement signed in 1999. Greek authorities have, for a period of time, conducted investigations into arms deals in the Greek defense sector. One investigation ...
Ericsson (NASDAQ:ERIC) informs about an investigation in Greece relating to a defense agreement signed in 1999.
Greek authorities have, for a period of time, conducted investigations into arms deals in the Greek defense sector. One investigation involves an agreement in which Ericsson Microwave Systems delivered an airborne radar system to Greece. The contract was signed in 1999. The company reports incidents of corruption annually as part of its Sustainability and Corporate Responsibility disclosures. Ericsson commented publicly on this case more than two years ago, including in conjunction with its Annual General Meeting.
Ericsson Microwave Systems was sold by Ericsson in 2006. Company records, agreements and documentations were handed over as part of the sale.
Recently, as part of the ongoing investigation, seven current and former Ericsson employees have been served with summons in preliminary investigation proceedings by a Greek prosecutor involving allegations of possible corruption.
Ericsson has not been contacted by any authority in this matter.
The current and former Ericsson employees have not yet been provided with the full relevant documentation from the investigation, and have not yet been questioned by the Greek prosecutor.
Since an investigation is on-going, where present and former employees have been served, it is not appropriate for Ericsson to comment further on the substance of this matter.
Ericsson works actively with its anticorruption program, and has a strong Code of Business ethics which is acknowledged by all employees at the time of employment and repeatedly throughout the term of employment. Ericsson has zero tolerance for corruption and bribery, and we work actively to prevent any kind of corruption within the Group, for example through anticorruption training for both employees and suppliers. We report transparently on our efforts annually in our Sustainability and Corporate Responsibility Report, which includes our GRI reporting, where we report in incidents of corruption and actions taken.
Ericsson will continue to follow this case closely and will cooperate with authorities, as appropriate.
For more information to Ericsson's approach to anticorruption:
NOTES TO EDITORS
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Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.
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Source: Ericsson via Globenewswire
Source(s) : Ericsson