Thermon, Others Settle US' Israeli Boycott Claims

Law360, New York (October 4, 2010, 11:32 AM EDT) -- Four companies, including Thermon Manufacturing Co. and the largest private bank in the United Arab Emirates, have agreed to pay over $80,000 to settle allegations they violated anti-boycott regulations by sharing information related to various Arab countries' boycotts of Israel.

The U.S. Department of Commerce's Bureau of Industry and Security announced the civil penalties Friday.

Thermon, a heat tracing manufacturer, will pay $32,500 to settle allegations that subsidiaries in Japan, the Netherlands and the United Kingdom violated the anti-boycott provisions of the Export Administration Regulations, which...
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