Thermon Subsidiaries Fined Over Heat Tracing Exports

Law360, New York (September 16, 2009, 12:44 PM EDT) -- Five foreign subsidiaries of heat-tracing technology provider Thermon Manufacturing Co. have agreed to pay $176,000 in combined civil penalties to settle allegations that they participated in unlicensed exports and re-exports of heat-tracing equipment to Iran, Syria, Libya and certain entities in India.

The exports and re-exports violated the Export Administration Regulations, the Bureau of Industry and Security announced Tuesday.

Texas-based Thermon voluntarily disclosed the violations to BIS, the bureau said. The foreign subsidiaries placed orders intended for, and ultimately shipped to, sanctioned countries and listed entities,...
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