Home »Stocks and Bonds » Pakistan » Chinese firm fined for re-sale of nuclear plant material

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  • Dec 4th, 2012
  • Comments Off on Chinese firm fined for re-sale of nuclear plant material
The US fined a Chinese state-owned company $3 million Monday after it agreed to plead guilty to criminal charges for exporting US-made coatings to a Pakistan nuclear plant against US restrictions. China Nuclear Industry Huaxing Construction Co was charged with allegedly conspiring with the China subsidiary of the US company PPG Industries to deliver high-performance epoxy coatings to the Pakistan nuclear power plant without obtaining permission.

The Chashma II plant, under construction at the time the shipments were made, 2006-07, was on the US Treasury's "Entity List" subjecting it to specific license requirements for exporting certain items to it.

Copyright Agence France-Presse, 2012


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