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Koenig & Bauer (KBA)

Koenig & Bauer (KBA)

Industry: 
Industrial Metals
Country: 
Germany
Sources: 

KBA subsidiary, KBA MetalPrint, works in Iran through its partner, Aran Afra Corp. (KBA MetalPrint Website, "Regional Contacts")

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"Since early 2012, the Iranian Rial has lost about two-thirds of its value against the dollar. This is accompanied by a decay and the internal value of the currency . . . Iran's economy itself threatens another problem: there is a dearth banknotes. Companies such as the German press manufacturer Koenig & Bauer (KBA) are under pressure to deliver any equipment that needs Iran for banknote printing. The interest group "United Against Nuclear Iran" (UANI) had already forcefully warned in early October KBA to make business with Iran. 'Tehran's only way to counter the devaluation of Rials, is to print new money', the union argued in their letter. The Iran-critics also pointed to the European Union sanctions in March, prohibiting the supply of notes and coins to Iran . . . UANI has now proved formidable ally of the U.S. government in Iran policy. Founded by the former top American diplomat Mark Wallace union members include former CIA Director Jim Woolsey and former BND, August Hanning. The UANI has exerted among other Siemens and Porsche massive pressure to sever links to Iran. The organization calls even hotels in New York  on this, the Iranian delegation at the edge of deny meeting UN hospitality." (Die Welt, "In Iran, only the stock market is booming," 11/11/12)

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"Three foreign currency printing companies have decided to discontinue their businesses in Iran, UANI (United Against Nuclear Iran U.S. group) Communications Director Nathan Carleton told Trend. Earlier this month, UANI has launched a 'Iran Rial Currency Printing Campaign', which targeted companies that print Rial for the Islamic Republic.According to Nathan Carleton, three such companies have stopped their businesses there, as a result of UANI's campaign.'All three of the firms we contacted, 'KBA', 'Flint', and 'DLR', have informed us that they are no longer involved in currency printing in Iran,' Carleton said, noting that UANI applauds the companies for their decisions. KBA, of Germany, is the world's second-largest security banknote printing press manufacturer, and has sold printing presses to numerous Iranian entities . . . Nathan Carleton noted that no one should be helping the Iranian regime print more currency during this critical time.'We will continue to observe the rial's value, but we do not expect it to improve unless the regime changes course.'" (Bloomberg, "Three currency printing companies stop their businesses in Iran," 10/20/12) 

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"At least one major European engraving company that has been providing currency production services to Iran says it has stopped doing business there. The company, Koenig & Bauer AG of Würzburg, Germany, also says it has not responded to an Iranian request for bids to make the presses to print new rials. Koenig & Bauer’s disclosure was contained in a mailed response to a query by United Against Nuclear Iran, a New York-based sanctions advocacy group, which seized upon the 40 percent drop in the rial’s value this month to begin a new campaign aimed at the currency itself...  In letters Mr. Wallace wrote to Koenig & Bauer and two other companies in the banknote business, De La Rue P.L.C. of Hampshire, England, and Flint Group of Luxembourg, he said that European Union sanctions already prohibit Europe-based banknote companies from providing such services to Iran’s central bank. Mr. Wallace wrote that his group would be “contacting relevant regulatory officials in Luxembourg and the E.U.” to ensure enforcement." (The New York Times, "Iran’s Supply of Currency May Be at Risk in Sanctions," 10/16/2012)

 

The printing press company is active in Iran. KBA subsidiary, KBA MetalPrint, also works in Iran. In October 2012, UANI applauded KBA for ending its currency printing business in Iran, but its other business in the country appears to continue.