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[Jerusalem Post] Michael Freund - The U.S. government has imposed a civil penalty on a Pennsylvania-based firm after one of its overseas subsidiaries repeatedly violated American legal restrictions regarding the Arab boycott of Israel. Colorcon, a manufacturer of inks and coatings for the food and pharmaceutical industries, agreed to pay $39,000 in fines after its UK subsidiary committed 21 violations of the law between 2001 and 2005 in a series of dealings with Syria. These included providing written assurances to the Syrians that the company's products did not contain materials manufactured in Israel, as well as an undertaking that Colorcon would comply with Damascus' boycott of Israel. 2008-01-01 01:00:00Full Article
U.S. Company Fined for Complying with Arab Boycott of Israel
[Jerusalem Post] Michael Freund - The U.S. government has imposed a civil penalty on a Pennsylvania-based firm after one of its overseas subsidiaries repeatedly violated American legal restrictions regarding the Arab boycott of Israel. Colorcon, a manufacturer of inks and coatings for the food and pharmaceutical industries, agreed to pay $39,000 in fines after its UK subsidiary committed 21 violations of the law between 2001 and 2005 in a series of dealings with Syria. These included providing written assurances to the Syrians that the company's products did not contain materials manufactured in Israel, as well as an undertaking that Colorcon would comply with Damascus' boycott of Israel. 2008-01-01 01:00:00Full Article
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