Auto supplier Duerr stops Iran business due to sanctions: Boersen-Zeitung

Asre khodro - German automotive supplier Duerr has halted its activities in Iran, which has been hit by the reintroduction of U.S. sanctions this week that include threats to blacklist any companies trading with the Islamic republic.

Saturday 11 August 2018 - 21:43:00

Auto supplier Duerr stops Iran business due to sanctions: Boersen-Zeitung

Reporting "Asre Khodro", “Business in Iran has grown over the past year. Now we have stopped our activities for the time being,” Duerr Chief Financial Officer Carlo Crosetto told Boersen-Zeitung in an interview published on Saturday.

“We’ve won two larger contracts in 2017. This is not overly important, but it’s not small either. This was also an opportunity in terms of margins that we’re now losing,” Crosetto said, without providing further details.

China and Germany on Wednesday defended their business ties with Iran in the face of President Donald Trump’s warning that any companies trading with the country would be barred from the United States.

Several European companies have suspended plans to invest in Iran, including oil major Total as well as carmakers PSA, Renault and Daimler.

 

*Source: reuters.com

برچسب ها

Iran Automotive IndustrySanctionAuto supplier Duerr
مطالب مرتبط بیشتر
France to update firms on doing business with Iran S. Africa-Iran Business Forum Next Week Iran, Turkey to Hold Meeting of Joint Economic Commission Next Month French Businesses, Officials to Preempt American JCPOA Walkout Lack of Iran Khodro Capital Impedes Peugeot Plans Auto Parts Makers Demand Tougher Regulations on Imports Istanbul Automechanika Conference with the participation of the senior director of the exhibition European carmakers on the road back to Iran after nuclear deal Car from the new minister's perspective Iran Automakers Need Logistical Spread Iran Auto Output: All That Clamor for Naught French Leverage in Iran Auto Industry Iran Industrial Agency Kicks Starts Another Car Factory Iran Automotive Production Up 20% y/y With Sanctions Behind, Iran Looks Ahead Iran Carmakers Obliged to Offer 2-Year Guarantees Iran Auto Companies Not Raising Prices Iran to hit two car industry accords soon Turkey keen on investment in Iran's auto industry PSA to carry out Iran plans despite US threats Peugeot, Citroen Will Uphold Localization Segment in Iran Iran to release Euro V passenger cars next year Production surges in Iran's car industry Iran Khodro Group Retains 39% Market Share Iran to sign 5 auto deals with intl. companies by Mar. 20 Iran talks with Germany’s VW to produce passenger car Car Import only through Investment Iran’s Vehicle Initial Quality Study Released Iran has potential to be top-10 auto market by 2020 Iranian, Turkish companies discuss auto parts Coop. The 4th Vehicle Conference "Sales and After-sales Service Approach” Iran Car Sales Slump Despite Loans Iran’s Auto Import Report by MSD Iran Targets 80% Auto Localization Effects of Automotive Ties With China Faurecia builds on Iran ties to secure major deals - CEO Renault signs MoU with Iran to create new joint venture Peugeot to try for making Iran its manufacturing hub in Middle East, Africa Iran to ink new deals with foreign automakers Pakistan-Iran cooperation in auto sector discussed Iran to open car factory in Azerbaijan Auto Sector Recovery to Buoy Steel Consumption New Automotive Decisions Announced Iran's Automotive Advantages Friends with many benefits Encouraging foreign investment to revitalize Iran’s car industry - expert Iranian car output down 2.5% Y/Y Algeria-Iran: 15 cooperation and agreements for automotive industry Automotive Targets Highlighted How to seize Iran’s automotive opportunities VW In Iran Iran ranked 13th in world passenger cars sales of 2015 Bavaria eyes major auto supplier potential with Iran Plans Devised to Make Iran Region’s Top Automaker: Minister Iran Seeks Foreign Partnerships to Boost Auto Industry Volvo on the Final Decision to Manufacture Car in Chabahar 3rd Iran Automotive Industry Int'l Confab opens in Tehran Iran Inks 3 MoUs with Foreign Carmakers Iran signs three deals with foreign automakers Iran to become a hub for automotive manufacturing: OICA President Iran, Germany Ink MoU to Boost Cooperation in Automotive Industry How Iranian Cars Are Viewed Around the Region Peugeot to Compensate for Iran’s Losses in New Contract: Minister Minister Calls for Japanese Automakers’ Investment in Iran Iran seeking Japanese investment in autos, water Iran in Talks with Germany, Italy to Boost Cooperation in Automotive Industry Three Europe carmakers to return to Iran soon Iran to become world's 8th automotive manufacturer Iran suspends car loan programme on soaring demand Iran to export 30% of domestically produced cars French firms trail in economic rush to Iran - executive Iran interested in cooperating with German, Italian carmakers Nematzadeh defends automotive sector Changing Automotive Perception Italy to broaden cooperation on auto industry with Iran Iran: The next automotive hotspot in Middle East? Iran's car market ready to zoom in on the action Japan explores opportunities in Iran's auto industry Thailand hopes for boost in trade with Iran after sanctions get lifted
Back to top