Reuters article dated June 9, 2017, specifically citing Cargotec, which reports, “Western manufacturers are shying away from supplying equipment for an Iranian port that India is developing for fear the United States may reimpose sanctions on Tehran, Indian officials say…” (Reuters, “India’s plan to develop key Iranian port faces U.S. headwinds,” 6/9/2017). According to the article, “Konecranes (KCRA.HE) and Cargotec (CGCBV:HE) have told India Ports Global Pvt Ltd, which is developing the deepwater port in [Chabahar, Iran], they were unable to take part in the bids as their banks were not ready to facilitate transactions involving Iran due to uncertainty over U.S. policy…” (Id.).
Cargotec is a cargo handling company that provides services for industrial, marine, harbor, and on-road cargo. Cargotec is based in Helsinki and had 2.6 billion euros in total sales in 2009. As of 2007 it is the world’s second largest crane manufacturer.
"A European machinery company that has received more than $1 billion in U.S. government contracts is coming under scrutiny after pictures emerged this week of its cranes being used to publicly execute individuals in Iran. The company, Cargotec, acknowledged to the Washington Free Beacon on Wednesday that its equipment is being used to publicly hang Iranian prisoners, but maintained that it is not responsible for directly selling the equipment to the Islamic Republic... Cargotec, via a Texas-based subsidiary called Kalmar, has long partnered with the U.S. government to provide equipment mainly to the Pentagon. These contracts have totaled around $1.21 billion as of November 2015, according to records compiled by the Federal Procurement Data System. Photographs of a Cargotec crane being used for an execution earlier this week were first published by Iranian-controlled websites and prompted criticism from groups such as United Against a Nuclear Iran, which has been waging a pressure campaign to stop companies from providing this type of equipment to Iran... 'We have seen numerous examples over the years of the Iranian regime using the cranes of brand-name companies to publicly execute people,' said Matan Shamir, UANI's executive director. 'Cargotec should follow the lead of other responsible companies and end its Iran business given the exploitation of its products to commit such egregious abuses.' A spokesman for Cargotec said that the company is 'sad' to see its products being used to help the Iranian regime execute its citizens. 'We are aware of the unfortunate situation where cranes have been used in public executions in Iran,' the spokesman said via email. 'We are naturally extremely sad to see these pictures and strongly judge this kind of action and behavior.' ... Criticism from groups such as United Against a Nuclear Iran has focused on companies such as Cargotec that also hold U.S. government contracts. These critics maintain that both the U.S. government and these companies should work harder to prevent Iranian human rights abuses. 'Given its lucrative business with the U.S. military, Cargotec should be even more sensitive to doing business with an avowed enemy of the United States that is responsible for killing hundreds of American soldiers,' said Shamir." (Free Beacon, "U.S. Contractor’s Cranes Being Used to Hang Iranians," 11/12/15)