Severe Service Investigation

RNS Number : 7244W

IMI PLC

03 August 2009

 

3 August 2009

IMI plc 

Severe Service Investigation Update

IMI plc announces agreement to a settlement with the US Department of Justice (DoJ) in respect of certain irregular payments by its US subsidiary Control Components Inc (CCI). As part of a plea agreement CCI will pay a fine of $18.2 million (which is wholly covered by a provision in the Group's 2008 accounts) and continue to co-operate with the DoJ in its ongoing investigations of certain former employees of CCI. CCI will also be subject to oversight by an independent compliance monitor.

IMI confirms that certain former employees of CCI have been indicted by the DoJ for offences related to the investigation. No current employees of CCI or the IMI Group have been prosecuted by the DoJ. 

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Enquiries:

Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat	Tel:    [phone]

 

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