ThyssenKrupp stops business with Iran
ThyssenKrupp had previously instructed all Group companies, including engineering contractors such as Uhde, to comply with the stricter US sanctions against Iran (Iran Sanctions Act).
The latest Executive Board decision prohibits all new business with Iran and thus goes beyond the current sanctions measures, which relate primarily to the petroleum sector (oil and gas). Existing Group interests in Iran are to be terminated as quickly as possible. The Executive Board decision is to be implemented in the Group immediately.
ThyssenKrupp is an integrated materials and technology group with currently almost 175,000 employees in more than 80 countries developing ideas and innovations to offer solutions for sustainable progress. In the 2008/2009 fiscal year they generated sales of more than €40 billion. Eight business areas focus the Group's activities and know-how in the strategic competency areas of Materials and Technologies. In addition to manufacturing materials and plants, the Group also provides complete system solutions and innovative services. We are continuously optimizing our portfolio to sustainably increase the earning power and the value of the Company.