TransDigm to repay $16 million for overcharging the Pentagon [Reuters]
Transdigm Group Incorporated (TDG)
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Source: Reuters
TransDigm to repay $16 million for overcharging the Pentagon - Reuters 1 Min Read (Reuters) - Aircraft component maker TransDigm Group said on Friday it had agreed to repay $16 million to the Pentagon after it was admonished last week during a hearing on its billing practices. Executives for TransDigm testified before a Congressional committee after a Pentagon-endorsed investigation found the company made profits exceeding 1,000% on some spare parts and equipment. “While this is a good first step, we must do even more in the future to prevent unscrupulous contractors from holding us hostage through abusive monopoly contracts,” House Oversight Committee Chairman Elijah Cummings said. Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D'Silva All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2019 Reuters. All Rights Reserved. TransDigm to repay $16 million for overcharging the Pentagon (Reuters) - Aircraft component mak
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TDG
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