© Reuters. FILE PHOTO: A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse
(Reuters) -Honeywell International Inc. on Monday said it has agreed to pay about $200 million to settle criminal and civil corruption investigations in the United States and Brazil.
The U.S. Justice Department and Securities and Exchange Commission (SEC) commission each announced the resolution to parallel investigations relating to bribes that Honeywell (NASDAQ:) paid between 2010 and 2014 to a high-ranking official at Brazil’s state-owned oil company to secure business.
The SEC charges also relate to payments Honeywell’s Belgian subsidiary made to an Algerian government official.
The U.S. authorities said Honeywell agreed to pay a criminal penalty of $79 to resolve the Justice Department’s charges and an $81 million civil penalty to the SEC. The Justice Department agreed to credit $39.6 million of that penalty against amounts the company has agreed to pay to Brazilian authorities.
Darius Adamczyk, Honeywell’s chairman and chief executive officer, said the company is “pleased” to have the matter behind it, noting it received cooperation credit.
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