Atlas Copco, headquartered in Nacka, interrupts its business with Iran.
This, according to President Trump's message that the United States imposes sanctions on the country. "We have been following developments continuously and have made this decision," said Sara Liljedal, Press Manager at Atlas Copco. (Nackajätte bryter med Iran (Trump Effect – Nacka giant breaks with Iran),” Mitti (Sweden), August 7, 2018.)
In 2017, the U.S. state of Iowa listed Atlas Copco on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Atlas Copco ineligible for investment and/or state contracting.
According to the Atlas Copco website, “Atlas Copco has appointed a distributor and will use this company as a vehicle for expansion on the Iranian market.” Atlas Copco Website, “Complex markets: Iran”
"Atlas Copco has had a branch in Iran for the past 30 years, according to Senior Vice President Hans Sandberg. The company primarily sells compressors, mining and construction equipment and services there, with sales of about $15 million to $20 million a year, he said. The company has received contracts from several United States federal agencies, including the Fish and Wildlife Service to the Department of Defense." The company received $9.2 million in benefits and revenue from the US government for their investments in Iran, during 2000-2009. Their business in Iran is currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)
The Iranian Tamkar Gas Equipment Company states on its website that it and a consortium of foreign companies, including Swiss GreenField and German MAN group, signed a contract in 2003 to provide equipment for 57 compressed natural gas refueling stations. According to Tamkar's website, the company is manufacturing the CNG refueling stations under GreenField's license. GreenField notes on its website that it was purchased by Atlas Copco in March 2007 and continues to operate within the Atlas Copco family.
In 2005, another company, Intermech Ltd. was acquired by Atlas Copco South Pacific Holdings Pty Limited of Australia. Through its relationship with Atlas Copco, the company lists an office in Tehran on its website.
According to the government of New Zealand, Intermech Ltd. and Iranian Pars Compressor Co. won a $20 million joint contract in August 2003 from the Iran Fuel Consumption Optimization Organization to build CNG refueling stations throughout Iran. According to a company press release, Intermech shipped 25 packages of equipment to Iran in April 2009; the "order was a follow up after the first successful shipment of 50 packages in 2008."
"With the US termination of the agreement, we are currently not taking new orders and are winding down our business." (August 15, 2018)