Category: Business and Investment News
A metals manufacturer faked test results and provided faulty materials to NASA, causing more than $700 million in losses and two failed satellite launch missions, according to an investigation by the U.S. space agency.
The fraud involved an Oregon company called Sapa Profiles Inc., which falsified thousands of certifications for aluminum parts over 19 years for hundreds of customers, including NASA.
News of the satellite failures comes a week after Norsk Hydro ASA, the current parent company of Sapa, agreed to pay $46 million to NASA, the Department of Defense and others to resolve criminal charges and civil claims related to the fraud, which took place from 1996 to 2015.
A spokesman for Norsk Hydro said the case has been settled. Last week, it said it has invested “significant time and resources to completely overhaul our quality and compliance organizations.”
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Published: May 1, 2019