Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

The Associated Press September 23, 2010, 1:28PM ET

Germany's ThyssenKrupp halting its Iran business

German steel and machinery company ThyssenKrupp AG says it is halting its business dealings in Iran.

The company said Thursday it will fade out its existing Iran business and won't enter any new contracts, a move meant to support the international sanctions against Iran.

Spokesman Alexander Wilke said Iran business in the last fiscal year amounted to barely 0.5 percent of the company's revenue of euro40 billion ($53 billion), totaling around euro200 million.

Iran has defied several rounds of increasingly restrictive sanctions -- the last of which adopted by the United Nations and the U.S. respectively in June and July -- aimed at compelling Tehran to prove it is not building a nuclear weapons program.

ThyssenKrupp follows similar decisions by Germany's Siemens AG or Deutsche Bank AG.


BW Mall - Sponsored Links

Buy a link now!