In 2017, the U.S. state of Mississippi listed Ascotec on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Ascotec ineligible for investment and/or state contracting.
Ascotec is a wholly owned subsidiary of the IMIDRO (Irainian Mines and Mining Industries Developmentand Renovation Organization. "Supply OF: Raw Materials, Spare Parts , Machinaries, spcially for IMIDRO Group."(Company Website)
"Mohaddessin said that maraging steel, which has twice the strength of stainless steel and is 85 percent harder than pure titanium, was needed to be used as very strong casing to allow an initial explosion inside the bomb to take place in a closed area for maximum power. That, he said, could cause a chain reaction and ultimately trigger a nuclear detonation.Tehran has also been using a number of front companies to illegally purchase maraging steel and other banned materials in other countries, he said. “These front companies are ostensibly non-Iranian, but their personnel are completely affiliated with the regime”. Mohaddessin said ASCOTEC, a subsidiary of the Organisation for the Development and Rebuilding of Iran's Mines and Industries, was one such front company." (Iran Focus, "Iran Secretly acquiring super-strong steel for nuclear bomb", 7/28/2005)