Chinese firm fined for breaching export restrictions to Pakistan

The Chinese state-owned Huaxing Construction Co. was slapped with a $3 million fine Monday after pleading guilty to charges it conspired with the U.S. company PPG Industries (NYSE: PPG) to exported U.S.-made epoxy coatings to a Pakistani nuclear facility against U.S. trade restrictions, the Pakistani newspaper Dawn reports.

The Chashma II plant, under construction when the sale was made in 2006-7, was on the U.S. Treasury Dept.’s “Entity List,” after the entire Chashma nuclear facility was placed under trade restrictions following Pakistan’s successful 1998 test of a nuclear weapon. The fine comes after an earlier $3.75 million fine in the case.

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