ThyssenKrupp pulls out of Iran

25 September 2010

German steelmaker will terminate existing contracts as soon as possible

German steel maker ThyssenKrupp has announced its decision to halt its business dealings in Iran and terminate existing contracts there as soon as possible, a move aimed at supporting the international sanctions against the Islamic republic, AFP has reported. The amount of business the company has in Iran is “marginal”, representing less than €200m ($265m), or 0.5 per cent of annual turnover, a spokesman for ThyssenKrupp said.

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