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Fuel System Solutions, Inc.

Fuel System Solutions, Inc.

Industry: 
Energy, Manufacturing
Value of USG Contracts: 
1
Symbol: 
NASDAQ:FSYS
States: 
ND
Country: 
USA
Contact Information: 
Sources: 

In their 2010 10-K forms for the SEC, Fuel System Solutions disclosed details about their business in Iran.

"From time to time, some of our foreign subsidiaries sell fuel delivery systems, related parts and accessories to customers in Iran, a country that is currently subject to sanctions and embargoes imposed by the U.S. government and the United Nations and a country identified by the U.S. government as a terrorist-sponsoring state. 

The constraints on our ability to have U.S. persons, including our senior management, provide managerial oversight and supervision over sales in Iran may negatively affect the financial or operating performance of such business activities. We have procedures in place to conduct these operations in compliance with applicable U.S. laws. However, failure to comply with U.S. laws in our foreign operations could result in material fines and penalties, damage to our reputation and a reduction in the value of our shares of common stock. 

In addition, our foreign subsidiaries’ activities in Iran could reduce demand for our stock among certain of our investors. Certain potential investors may avoid investing in our common stock for political reasons, rather than for business reasons." (10-K for Fuel Systems Solutions Inc, 3/8/2010)