FMC Technologies Hit With Fine Over Valve Exports

Law360, New York (August 17, 2009, 7:20 PM EDT) -- FMC Technologies Inc. has agreed to a $610,000 civil penalty to settle allegations brought by the U.S. Bureau of Industry and Security that the oil and gas industry specialty supplier exported unlicensed parts overseas.

The BIS announced the fine agreement Thursday, adding that Houston-based FMC voluntarily disclosed the alleged violations and cooperated with the investigation.

The allegations stemmed from 78 unlicensed exports of butterfly and check valves to several countries, according to the agency.

The U.S. government controls the exports at issue for “reasons of chemical...
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