Tyson Settles Treasury Fines

Tyson Foods Inc. was among several companies that have paid the U.S. Treasury more than $726,000 collectively in recent years to settle allegations they violated sanctions against doing business in Iraq.

Treasury records show that Tyson Foods, headquartered in Springdale, paid $150,000 to settle its case involving Hudson Foods’ 1996 sale and export of frozen chicken parts to Iraq. Tyson Foods acquired Hudson Foods in 1998. Tyson Foods was not involved in the alleged trading with Iraq.

GRE Insurance Group & Albany Insurance Group had the largest Iraq-related settlement — $244,250 to settle a case in which it had provided insurance coverage for seven cargo shipments from Iraq to Libya between 1991 and 1995. ERC Industries Inc. had the second-largest settlement — $171,055. Also known as Wood Group Pressure Control, the Treasury said the company had shipped oil-rig parts worth $734,060 to Iraq in 1999.