updated 4/6/2004 6:16:23 PM ET 2004-04-06T22:16:23

The U.S. Air Force will reinstate the good standing of Boeing Co., allowing the aerospace company’s rocket units to resume bidding on government projects, the Wall Street Journal said on Monday.

Citing industry and government officials, the Journal said Boeing would be eligible to take part in as much as $5 billion of rocket work through the end of the decade, in an agreement that could be announced as early as the next few weeks.

After being punished last year for illegally acquiring a competitor’s documents during bidding in a major rocket competition, Boeing executives and Air Force officials are putting the final touches on an accord that would designate Boeing as a “presently responsible” contractor, the Journal said.

Under the agreement, Chicago-based Boeing will pay the Air Force costs relating to the investigation and put in place ethics programs while giving the Pentagon regular updates on compliance, the story said.

The Journal said payments Boeing may make will not exceed several million dollars, but added that a final accord has not been reached yet.

The settlement also will not resolve U.S. Justice Department criminal and civil probes, the Journal said.

Representatives for Boeing and the Air Force were not immediately available to comment.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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