Word: kongsberg
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...Sugiichiro Watari and Chairman Shoichi Saba suddenly dashed to their corporate headquarters for an emergency board meeting. Then, at a hastily called news conference, the two executives resigned. That surprise gesture of contrition came less than a day after the Senate voted 92 to 5 to prohibit Toshiba and Kongsberg Vapenfabrikk, Norway's largest defense contractor, from selling any products in the U.S. for two to five years...
...months. Concerned by apparent advances in Moscow's military technology, the Pentagon last year launched a probe to find out why the newest Soviet submarines were so much quieter and thus less vulnerable to enemy detection than their predecessors. Investigators discovered that between 1981 and 1984 Toshiba Machine and Kongsberg had falsified export documents and secretly supplied the Soviets with computer-controlled lathes used to manufacture state-of-the-art propellers for submarines and aircraft carriers. The props are particularly valuable on Soviet subs because the blades enable the vessels to slip more quietly through...
...improper deal were arrested and charged with violating Japanese export laws. In addition, Toshiba Machine was prohibited from selling any goods to 14 Communist countries for one year. Though not directly implicated in the scandal, Toshiba Machine President Kazuo Iimura and three other top executives resigned. Norway, meanwhile, closed Kongsberg's trading arm and charged its sales manager with providing false information to the country's export authorities...
...last week to require the State Department to "enter into discussions with Japan and Norway regarding compensation for damage to United States national security." The next day members of a Senate subcommittee on international finance raised the possibility of a long-term ban on U.S. imports of Toshiba and Kongsberg products. That would be an especially devastating blow to Toshiba (1986 revenues: $22.8 billion), which exported $1.6 billion in TV sets, VCRs and other goods to the U.S. last year...
...result, the Navy may convince Congress that the number of U.S. subs must be increased sharply. Because the newest submarines under development -- known as the Seawolf class -- will cost more than $1 billion each, it is the U.S. that could pay the highest price for Toshiba's and Kongsberg's dealings...