Kobe Steel, one of Japan’s largest metal manufacturers, admitted this week that it had falsified quality and durability data for at least 20,000 tons of steel it sold to manufacturers, which used the potentially inferior metals in cars, airplanes, rockets, high-speed trains, defense equipment and other products. “The credibility of Kobe Steel has plunged to zero,” Kobe’s chief executive, Hiroya Kawasaki, said after the company admitted first to falsifying data about the strength and durability of its aluminum and copper products and then to falsifying data about its iron ore powder. The apparent fraud came to light after the Central ... Read More
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