WASHINGTON, Aug 30 (Reuters) - RTX Corp ( RTX ) will pay
a $200 million fine to settle allegations it violated export
laws by exchanging data and products with prohibited countries
including China, U.S. State Department records dated Thursday
said.
The fine stems from failure to abide by the
International Traffic in Arms Regulations (ITAR) by poorly
classifying and controlling exports of defense articles,
including classified ones, the documents said.
RTX voluntarily disclosed its mistakes and told
investors on its July 25 earnings call that the company had
aside about $1 billion to resolve three separate matters related
to export violations "primarily identified during the
integration of Rockwell Collins and Raytheon Co. into RTX."
The State Department notification released on Friday was
the first of the three.
"As part of the resolution of each of these three
matters, we will be required to retain independent compliance
monitors over the three-year term of the agreements," the
company said on the call.