Whirlpool Corporation


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"Iran says it has started talks with major American and Italian companies to form partnerships with some of its oldest brands of household devices in what appears to be a policy to prevent their demise. The announcement was made by Abbas Hashemi, the director general for household devices affairs of the Ministry of Industry, Mine, and Trade. Hashemi was quoted by the domestic media as saying that the companies with which talks to were underway on the same front were multinational conglomerate corporation General Electric (GE), the American multinational manufacturer and marketer of home appliances Whirlpool Corporation, and the Italian Ariston Thermo Group." (Press TV, "US, Italian Firms to Save Iran's Troubled Brands," 1/8/2017). 


"Iran is in talks with two American home appliances manufacturers General Electric (GE) and Whirlpool for joint venture, according to Abbas Hashemi, director general of home appliances and metal industries department of Iran's Ministry of Mine, Industry, and Trade. Addressing a press conference, Hashemi said Iran is seeking joint venture and cobranding deals with foreign companies where a minimum 30 percent of the products are exported to regional markets, Trend correspondent reported from the event January 3. In particular he said that the ministry is looking forward to have one or two brands produce split cooler units in Iran." (Trend News Agency, "Iran Seeking JV with American Giants GE, Whirlpool," 1/5/2017).


In its 2010 Correspondence with the SEC, Whirlpool Corporation reports that its company sells products to its customers in Iran:

 Total indirect and direct sales of products by the Company’s foreign subsidiaries into Iran, Sudan and Syria in the fiscal year ending December 31, 2009 totaled approximately $3.5 million…

During the past three years, the Company’s appliance subsidiary in India sold quantities of refrigerators to independent distributors in Dubai who then resold the products to their own customers in Iran and Sudan. During the past three years, the Company’s compressor subsidiaries located in Brazil, Italy and Slovakia sold refrigerator compressors and components thereof to private entities in Iran, and to a reseller located in Lebanon who resold them to its own customers including those in Syria.” (SEC, 2010 Correspondence, 5/13/10