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Business/Financial

RTX To Pay U.S. Government $200 Million To Resolve Alleged Export Violations

By Cal Biesecker

Friday, August 30th, 2024

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RTX To Pay U.S. Government $200 Million To Resolve Alleged Export Violations

Patriot air and missile defense system. (Photo: Raytheon)

The State Department last Friday said that aerospace and defense contractor RTX [RTX] has agreed to pay $200 million in penalties to resolve self-disclosed unauthorized defense exports, including classified articles, in violation of U.S. law. Settlement terms under the three-year consent agreement include the department suspending $100 million of the payment if RTX uses the funds to implement remedial measures to strengthen its compliance program. The company for two years will also hire an external compliance officer to oversee the…

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