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Boeing (BA) - Get Free Report has agreed to pay $15 million to settle State Department charges that it sold products with military applications abroad, according to media reports.

The Chicago-based aerospace giant allegedly broke the Arms Control Export Act when it delivered 94 commercial jets to buyers overseas. Nineteen went to China. The jets contained a computer chip that is also used in missile guidance systems. Boeing shipped them between 2000 and 2003, and during that period, the chip required a license for foreign sales.

The fine is among the largest a company has faced for violating the Arms Control Export Act, according to

The Associated Press


The settlement was signed on March 28 and was first reported by

The Seattle Times


Boeing shares finished Friday down 25 cents at $79.57.