Rolls-Royce reaffirms anti-bribery policy after Brazil allegations

[LONDON] British engineering company Rolls-Royce said it did not tolerate improper business conduct after the Financial Times said the company had been accused of bribery in Brazil.

The British company said in an emailed statement it did not tolerate wrongdoing. The statement did not specifically refer to the allegations about Brazil in the Financial Times report. "We want to make it crystal clear that we will not tolerate improper business conduct of any sort and will take all necessary action to ensure compliance," a spokesman for Rolls-Royce said in the statement.

Rolls-Royce, a supplier of gas turbines for oil platforms, was named by a former executive of Brazil's state oil company Petrobras as having paid bribes there, according to Monday's Financial Times, which cited court documents.

Petrobras is engulfed in a widening corruption scandal, in which billions of dollars were allegedly paid by companies in bribes to win contracts from the Brazilian firm.

Rolls-Royce, the world's second-largest maker of aircraft engines, is under investigation by Britain's Serious Fraud Office (SFO) into concerns of possible bribery and corruption in China and Indonesia, in a probe which dates back to 2012.

Shares in Rolls-Royce were down 1.1 per cent at 934.8 pence by 0912 GMT, lagging Britain's bluechip index which was down 0.1 per cent.

REUTERS