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Koch Industries

Koch Industries

Industry: 
Chemicals
Value of USG Contracts: 
85
States: 
KS
Country: 
USA
Contact Information: 
Sources: 

“A Bloomberg Markets investigation has found that Koch Industries -- in addition to being involved in improper payments to win business in Africa, India and the Middle East -- has sold millions of dollars of petrochemical equipment to Iran, a country the U.S. identifies as a sponsor of global terrorism. Internal company documents show that the company made those sales through foreign subsidiaries, thwarting a U.S. trade ban… Cohlmia says Koch fired the employees and sales agents involved in the illicit payments and strengthened internal controls. Regarding sales to Iran, she wrote, ‘During the relevant time frame covered in your article, U.S. law allowed foreign subsidiaries of U.S. multinational companies to engage in trade involving countries subject to U.S. trade sanctions, including Iran, under certain conditions.’ Koch has since stopped all of its units from trading with Iran, she says… Internal company records show that Koch Industries used its foreign subsidiary to sidestep a U.S. trade ban barring American companies from selling materials to Iran. Koch-Glitsch offices in Germany and Italy continued selling to Iran until as recently as 2007, the records show. The company’s products helped build a methanol plant for Zagros Petrochemical Co., a unit of Iran’s state-owned National Iranian Petrochemical Co., the documents show.” (Bloomberg, "Koch Brothers Flout Law Getting Richer With Secret Iran Sales," 10/3/2011)

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"The trading with Iran involved Koch subsidiaries in Germany and Italy providing key components for a huge state-owned petro-chemical plant, despite a U.S. ban on trade with Iran since 1995."(ABC News,"Report: 'Secret Sins' of Koch Industries," 10/7/2011)

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