25 Feb 2014 07:00
25 February 2014
Voluntary Disclosure to US Department of Justice
On 24 February 2014 Cobham voluntarily contacted the United States Department of Justice ('DOJ') to inform it that Cobham had undertaken an initial internal investigation into potentially irregular sales practices concerning sales to Asia of certain products manufactured by TracStar Systems Inc. ('TracStar'). TracStar is based in Orlando, Florida and is part of Cobham's SATCOM business. Cobham will continue to co-operate with the DOJ in relation to this matter.
TracStar manufactures a range of inertial stabilisation and satellite tracking systems used by government and commercial customers globally for land based applications. Its total worldwide revenue in 2012, Cobham's last externally reported full year, was under £15m, representing less than 1% of Group revenue in that year.
- ends -
ENQUIRIES
Cobham plc | |
Julian Wais, Director of Investor Relations | +44 (0)1202 857998 |
Brunswick | |
Tom Williams | +44 (0)20 7404 5959 |