Linde

Engineering
165
FWB:LIN
Germany

[email protected]

The Iranian company Diesel Motor A.F.Z. (“Diesel Motor”) cites Linde as a customer on its company website. (Diesel Motor Website, “Home”).

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In 2018, Linde was listed as a divested security by the Michigan State Retirement System for active business in Iran.

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In a letter to CalPERs dated November 29, 2017, the company confirmed it is not engaged in the business activities targeted by the California Divest from Iran Act. 

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In 2017 the U.S. state of California listed Linde as a company under review for potentially investing in petrochemical projects in Iran.

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In 2017 the U.S. state of Minnesota, Rhode Island, South Carolina, Tennessee listed Linde on its Iran restricted companies list rendering Linde ineligible for investment and/or state contracting.

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Linde participated in the February 20, 2017 Vereinigung der Bayerischen Wirtschaft e. V. (“vbw”) meeting with Iranian Foreign Minister Dr. Mohammed Javad Zarif and Ambassador S. E. Ali Majedi. Prospective engagement with the vbw Economic Liaison Office in Tehran, where the Tehran Chamber will serve as a local partner. Troublingly, the Tehran Chamber is affiliated with the Iran Development and Renovation Organisation (“IDRO”). (vbw Website, “Round Table mit dem iranischen Außenminister Dr. Zarif”).

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"German industrial gases group Linde has revived plant-engineering contracts in Iran that lay dormant for years under sanctions but cannot act on them until there is a way to transfer money out of the country, its chief executive said. "We have already signed engineering contracts to resuscitate projects from years ago but the banking system has to be fixed first before we can start performing on these contracts," Aldo Belloni told analysts on a conference call on Thursday." (Reuters, "Linde Revives Iran COntracts, Waits For Banking System," 3/10/2017).

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In February 2016, Linde announced that it was considering a joint venture with the Japanese company, Mitsui, to invest $4 billion in Iran’s oil sector. (Press TV, “Linde, Mitsui plan $4 billion Iran investment,” 2/1/2016).

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"A new player has been created in Iran’s industrial gas industry, as The Linde Group and Delvar Afzar Industrial Gases have teamed up in a joint venture. The Tier One corporation and Delvar Afzar Industrial Gases, part of the Delvar Afzar Industrial Group, have united under the name ‘Linde Delvar Afzar Industrial Gases’ (LDAIG). It is understood that in pooling strengths and leveraging the assets of both parties, LDAIG aims to become a leading supplier of industrial merchant gases and healthcare gases in the Middle Eastern country. The company also aims to implement an industrial gas culture and develop new sales for molecules including both liquids and gases. Delvar Afzar’s facilities will provide the majority of the company’s liquid gases supply. Linde CEO Professor Dr. Aldo Belloni, Linde Board Member Bernd Eulitz and Dr. Iraj Ghorbani, CEO of Delvar Afzar Industrial Group, signed the agreement to establish the new organisation on 17th January in Iran." (Gasworld, "Linde and Delvar Afzar Unite in New Iranian Industrial Gas 'Game-Changer,'" 1/19/2017).

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"Officials of German Linde Company in a meeting with directors of Iran's Bandar Imam Petrochemical Company voiced their willingness to cooperate with Iran. Bandar Imam Petrochemical Managing Director Reza Amiri said that Linde has opened up its office in Iran. "The officials of the two companies got together to consider opportunities of investment, transfer of technology and partnership in Iran's projects," Amiri added. Amiri said Linde had launched activity in various domains like petrochemical section after the Joint Comprehensive Plan of Action (JCPOA)." (Fars News Agency, "Germany Comapny Mulls Investment in Iran's Projects,"  11/22/2016).

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"German Linde Group has received green lights from Euler Hermes, a credit insurance company to become the greatest contractor of Iran’s LNG projects. New round of Iranian officials and Germany’s Linde Group sat to discuss the LNG projects. The former had signed a deal to provide technical support for Kian Petrochemical Complex earlier and signaled its participation in country’s greatest petrochemical projects during new round of talks with the Imam Khomeini Petrochemical Complex. New investments, technology transfer, training, and research and development projects constituted the topics of discussion. The new rise in German company’s willingness is attributed to assurances Euler Hermes Credit Insurance Co., which would provide insurance coverage to enterprises acting in Iranian setting, which would have been impossible without provisions of JCPOA." (Mehr News Agency, "Germany's Linde major contractor of LNG project," 11/19/2016).

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"Minister of Petroleum Bijan Zangeneh says Iran plans to splash out $180 billion to revive and renovate its oil, gas and petrochemical industries by 2022. Addressing an energy security summit in Berlin, the minister said Iran has always been a reliable energy supplier, adding the country wants to regain its position in the energy market... Zangeneh held important talks with German leaders, including Energy Minister Sigmar Gabriel on Thursday. The minister was reportedly set to hold more talks with energy giants, including Siemens, Linde and Lurgi, about the release of Iranian LNG equipment and parts seized by German companies under the European sanctions regime. According to Zangeneh, Germany was Iran's prime energy partner in the downstream oil industry as well as its petrochemical, refinery, turbines and industry parts sector before sanctions. The three energy companies have a history of two decades of operation in Iran's giant South Pars gas projects. Linde had undertaken to build equipment for gas liquefaction of Iran's LNG plant. According to CEO of National Iranian Gas Company Ali Reza Kameli, the company has completed construction of the equipment but is refusing to deliver it because of sanctions." (Press TVIran plans $180 billion energy investment, 5/7/15)

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In 2012, Linde was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because it was determined to have new involvement in Iran but then it was removed after clarifying its involvement. 
 

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Linde Material Handling, a subsidiary of Linde, works in Iran through its Iranian sales partner, Mehrizan Industrial Development. Troublingly, Linde Material Handling manufactures explosion protected products. (Mehrizan Website, "Linde") 

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Linde Hydraulics, a subsidiary of Linde, works in Iran through its Iranian sales partner, Rahbord Hydraulic Sepand Co. Ltd. (Linde Hydraulic, "Sales Partners") Linde Hydraulics also works in Iran through another Iranian partner, Mehrizan Industrial Development. On its website, Mehrizan advertises Linde Hydraulics products. (Mehrizan Website, "Homepage")

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"German group Linde will halt all business operations in Iran due to political developments there, the world's number-two industrial gases producer said on Monday." (Reuters, "Linde says to pull out of Iran," 9/13/2010)

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"Germany's Linde AG has sold LNG technologies to another Iranian LNG project, which is nearing completion. But a spokesman said Wednesday that "given the current political environment, we do not consider new business opportunities in Iran."" (Wall Street Journal, "Iran curbs LNG-Export Ambitions", 8/12/2010)

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Germany's trade ties to Iran stretch back to the Middle Ages, and many of the companies currently there have been active in Iran for decades. Some 85 German companies have operations in Iran, from chemical maker BASF AG to Deutsche Lufthansa AG and Bayer AG, and others such as Linde AG and Mercedes-Benz parent Daimler AG are active there, according to the Hamburg-based German-Iranian Chamber of Commerce. More than 7,000 companies conduct business there through local representatives. Germany has become such a big trading partner for Iran because so many of its companies provide the machinery and engineering prowess Iran needs to improve its infrastructure.(The Wall Street Journal, "German Firms Feel Pressure Over Tehran Trade," 10/3/09)

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"Several renowned German companies are involved in major Iranian infrastructure projects, especially in the petrochemical sector, like Linde, BASF, Lurgi, Krupp, Siemens, ZF Friedrichshafen, Mercedes, Volkswagen and MAN." (Payvand News, "Iranian Exports to Germany rose 50%," 12/8/08)

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"There is also the question, not mentioned by De Margerie, of where Iran would source LNG technology. Most key components used in projects around the world are manufactured in the US. NIGC says it has been negotiating with European firms, including Linde and Technip, but it is hard to see either working closely with Iran until the political situation improves." (Petroleum Economist, "The struggle to market," 4/07)

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"GIANTS WITH A FOOT IN TEHRAN: Total, Shell, Statoil, BNP Paribas, Commerzbank, MTN, UPS, Linde, Technip, Nokia, Ericsson, Peugeot, Renault, OMV, Societe Generale, ENI, Mitsubishi, Sumitomo, Siemens, LG, Samsung, Bosch, Valeo, Nestle, Unilever, BAT, Japan Tobacco." (The London Times, "American pressure threatens UK firms," 5/27/06)

    "Even though the rest of the signatories remain in the JCPOA, we are also aware of the 90-day and 180-day wind-down periods after which U.S. secondary sanctions will snap back. Linde confirms that, as a responsible corporate Citizen we are fully committed to compliance with applicable laws and regulations, including Iran sanctions administered by the European Union and the United States." (6/4/2018)