According to its website, Amitis is an authorized representative for ABB in Iran. (http://amitistech.com/abb-instruments-tools).
"The U.S. Iran Threat Reduction and Syria Human Rights Act of 2012 requires U.S. listed companies to disclose information relating to certain transactions with Iran. In 2018, certain non-U.S. subsidiaries of ABB, in accordance with applicable laws, provided electrical equipment, automation systems and on-site services to OEMs, distributors, panel builders, EPC contracting companies and other customers for Iranian business. The revenues attributable to these products and services in 2018 amounted to approximately $81 million, of which $31 million is attributable to our discontinued operations. ABB discontinued its Iranian business in 2018, except for minor work on a few long-term contracts which is being performed in line with applicable sanctions." (United State Securities and Exchange Commission, "20-Form F," 3/28/2019).
- In 2017, ABB Ltd. disclosed that it had reopened its Iranian office and had started to seek business in the country. ABB Ltd. had previously been removed from the Iran-related securities list. In 2017, CalSTRS designated ABB Ltd. as “Under Review” for potentially having new ties to Iran. In 2018, CalSTRS removed ABB Ltd. after reviewing the company’s business in Iran and internal controls to prevent sanction violations.
- ABB is reviewing international sanctions developments regarding Iran and finalizing existing contracts in line with such developments. “Sensitive Countries,” ABB, June 2018.
- Six delegates from ABB are listed as registered delegates at the 3rd Europe-Iran forum that took place from May 3-4, 2016 in Zurich, Switzerland. (Registered Delegates and Press at the 3rd Europe-Iran Forum).
- "California’s department of general services, which awards its public contracts, has contacted more than 150 companies seeking clarification regarding Iran. The companies include... ABB, the Swiss electrical engineering group. ABB said it had adopted new policies regarding Iran: a statement on its website says that in May 2011 it 'decided to complete its exit from all business in the oil and gas sector in Iran by the end of September.'" (Financial Times. "California tightens screw on trade with Iran," 6/27/11)
- "In an October 2008 filing with the Securities and Exchange Commission, ABB said it did $372 million in business with Iran from 05-07, and a smaller amount to Syria, primarily selling products like power generation equipment and semiconductors. This January, the company announced it had stopped taking orders for new business and was winding down work on existing contracts." The company received $266.5 million in revenue and benefits from the US government between 2000 and 2009. Their business in Iran is active but they have not had any new investments. (New York Times, "Profiting from Iran, and the US" 3/6/2010)
- “Swiss engineering group ABB AG has stopped taking new orders in Iran with a view to ending operations there, a spokesman said on Sunday, confirming a newspaper report.‘It's been some time since we've taken any new orders,’ ABB spokesman Wolfram Eberhard said, adding the company had stopped doing so more than 12 months ago. "We're finishing up old contracts."He said ABB now employed some 30 people in Iran, down from 100, and that many of its contracts had been for infrastructure projects and had run into financing difficulties. He said he had no exact date for when all business would be finished.” (Reuters, “ABB, other Swiss firms halting Iran business,” 1/31/10)
- New York State Comptroller Thomas P. DiNapoli also announced Tuesday the $110 billion fund would freeze an additional $300 million in seven other companies...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries. "We don't expect our investments to benefit regimes that support genocide and terrorism," said DiNapoli...The fund also plans to monitor and prohibit further investment in ENI (E), Repsol YPF (REP), Royal Dutch Shell PLC (RDSA), Total SA (TOT), ABB Ltd. (ABB), Alstom (ALO.FR) and Snam Rete Gas (SNMRY). Additionally, it plans to focus on other industries including telecommunications. (Wall Street Journal, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09 and The Office of New York State Comptroller Thomas P. DiNapoli)
- A source familiar with the naughty list says both ABB, a Swiss engineering giant that does business in Iran, and the China National Petroleum Corp., which operates in Sudan, are included. (TIME, "Rules of Disengagement," 5/12/08)
- Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from Internet in July 2007)
- ...ABB Swiss bank, Credit Suisse, the agrochemical firm, Syngenta, and the engineering group, second biggest and Total, as well as the Siemens"The blacklist is based on latest annual reports of the companies. They are mostly non-U.S. and include Unilever, Cadbury,HSBC, Nokia,
- ABB's business activities with Iran will continue but account for less than 1 percent of the company's sales, according to spokesman Wolfram Eberhardt." (Xinhua, " Swiss Company Irritated Over U.S. Blacklist," 7/2/07)
- For its part, ABB said an "information offensive" was needed to explain its position to investors. The engineering group has been doing business with Iran, according to the SEC list...
…finalizing existing contracts in Iran in line with trade regulations… (8/14/18)
Following recent international developments, including the partial lifting of international sanctions, ABB has revised its policy and has started to seek business opportunities in Iran, as from January 2016, in line with remaining applicable sanctions. (3/17/2016).
In January 2010, ABB "announced it had stopped taking orders for new business and was winding down work on existing contracts... Their business in Iran is active but they have not had any new investments." (New York Times, "Profiting from Iran, and the US" 3/6/2010).