6 December 2012
Rolls-Royce reports to the SFO
Rolls-Royce, the global power systems company, has passed
information to the Serious Fraud Office (SFO) relating to concerns
about bribery and corruption involving intermediaries in overseas
markets.
This follows a request for information from the SFO about
allegations of malpractice in Indonesia and China. Investigations by Rolls-Royce have
identified matters of concern in these, and in other overseas
markets.
The consequence of these disclosures will be decided by the
regulatory authorities. It is too early to predict the outcomes,
but these could include the prosecution of individuals and of the
company. We will cooperate fully.
Rolls-Royce has significantly strengthened its compliance
procedures in recent years, including a new Global Ethics Code and
a new Intermediaries Policy. It has also expanded the Compliance
function. As a further measure, Rolls-Royce will appoint an
independent senior figure who will lead a review of current
procedures and report to the Ethics Committee of the Board.
John Rishton, Rolls-Royce Chief
Executive, said:
"I want to make it crystal clear that neither I nor the Board
will tolerate improper business conduct of any sort and will take
all necessary action to ensure compliance. This is a company with
exceptional prospects and I will not accept any behaviour that
undermines its future success".
Notes to Editors:
1. Rolls-Royce is a world-leading provider of power systems and
services for
use on land, at sea and in the air, and has established a strong
position
in global markets - civil aerospace, defence aerospace, marine
and energy.
2. As a result of this strategy, Rolls-Royce has a broad
customer base
comprising more than 500 airlines, 4,000 corporate and utility
aircraft and
helicopter operators, 160 armed forces, more than 4,000 marine
customers,
including 70 navies, and energy customers in more than 80
countries.
3. Annual underlying revenues were £11.3 billion in 2011, of
which more than
half came from the provision of services. The firm and announced
order book
stood at £62.2 billion at 31 December
2011, providing visibility of future
levels of activity.
4. Rolls-Royce employs over 40,000 people in offices,
manufacturing and
service facilities in over 50 countries. Over 11,000 of these
employees are
engineers.
5. In 2011, Rolls-Royce invested £908 million on research and
development, two
thirds of which had the objective of further improving the
environmental
performance of its products, in particular reducing
emissions.
6. Rolls-Royce supports a global network of 28 University
Technology Centres,
which connect the company's engineers with the forefront of
scientific
research.
7. The Group has a strong commitment to apprentice and graduate
recruitment
and to further developing employee skills.
For further information, please contact:
Media relations: Investor relations:
Josh Rosenstock Simon Goodson
Director of External Communications Director of Investor
Relations Rolls-Royce plc
Rolls-Royce plc
Tel: +44 (0)20 7227 9163 Tel: +44 (0)20 7227 9237
josh.rosenstock@rolls-royce.com simon.goodson@rolls-royce.com
www.Rolls-Royce.com