© 2020 Forbes Media LLC. "Under the terms of the civil settlement agreement, SPI will satisfy the $34.6 million settlement through credits totaling $23.6 million for its restitution payments as part of the criminal plea agreement, plus additional payments of $6 million to NASA and $5 million to the MDA," DOJ added. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. The plea agreement is scheduled to be held May 13. In a statement, DOJ said they had found "a 19-year fraud scheme that included falsifying thousands of certifications for aluminum extrusions provided to hundreds of customers.". Import Duty Avoidance, Aluminium Prices Under Double Pressure: Trade Wars and Chinese Exports, Dirty Metal – China’s Troublesome Tether Between Coal And Aluminium. NASA subsequently suspended SPI from its government contracts. It also agreed to pay $34.6 million in relation to a civil settlement, for "causing a government contractor to invoice MDA and NASA for aluminum extrusions that did not comply with contract specifications," the DOJ stated. Is Rio Tinto’s ISAL smelter a bargain or a smart investment? A former NASA aluminum manufacturer recently agreed to pay $46 million to several customers, including the space agency, following a Department of Justice investigation. We design and manufacture tooling using the latest technology and CAD/CAM design, and offer in-house testing capability to ensure superior quality. International Aluminium 2019 Conference – Key Takeaways, Electric Vehicles (EVs): outlook for sales and aluminium demand. Artist's impression of the Carbon Orbiting Observatory mission, which was supposed to launch in... [+] 2011. Financial Nonferrous International Recycling News Oslo, Norway-based aluminum producer Hydro will close extrusion plants in Kalamazoo, Michigan, and Belton, South Carolina, due to oversupply concerns and an effort to streamline the company’s North American extrusion business. "Since learning of the misconduct and reporting it to the government and customers, we have invested significant time and resources to completely overhaul our quality and compliance organizations," said Charlie Straface, business unit president for Extrusion North America, in the same statement. In this section you will find all the latest news of the Danieli Group. Norsk Hydro Agrees To Sell Romanian Extrusion Plant To Austrian Firm For Undisclosed Sum, The Net-Zero Shift Starts With Low Carbon Aluminium, Aluminium at the LME Week – Key Takeaways, Aluminium Market Oversupplied, Demand Growth Flat. Terms of the transaction were not released, but Hydro indicated that the sale would... Sep. 12, 2019 - … — Hydraulic pumps and electrical cabinets pre-installed on skids, for the layout optimization and quick installation.