UANI Applauds Hitachi for Ending Its Business in Iran, Following Discussions with UANI

December 1, 2011
Contact: Nathan Carleton, [email protected]
Phone: (212) 554-3296     

UANI Applauds Hitachi for Ending Its Business in Iran, Following Discussions with UANI

New York, NY - United Against Nuclear Iran (UANI) on Thursday announced that Japanese technology conglomerate Hitachi has decided to end its business in Iran. Following discussions with UANI, Hitachi this week informed UANI that it "has stopped all new business with Iran and is in the process of winding down contracts pre-existing our policy directive to end all new business."

UANI is satisfied with Hitachi's pledges and will make note of the company's new Iran policy on the Iranian Business Registry (IBR).

Said UANI President, Ambassador Mark D. Wallace:

We applaud Hitachi for its responsible decision to pull out of Iran. We are satisfied with Hitachi's pledges to wind down existing contracts there, and we thank Hitachi's executives for their concern, time, and responsiveness. All companies--especially those involved in the Iranian oil and gas sector--should follow Hitachi's example, and end their business in Iran.

The international community and corporations like Hitachi are continuing to take action to economically isolate Iran's lawless regime from the rest of the world. Iran's rulers are seeing that their illegal pursuit of nuclear weapons, sponsorship of terrorists, and overall disregard for international law have serious financial consequences.

On August 4, 2011, UANI publicly called on Hitachi to end its business in Iran, given the regime's illegal nuclear weapons program and support for terrorism. As UANI noted at the time, Hitachi maintained an active presence in Iran, having provided it with gas turbines and induction motors used in the Iranian oil and gas sector. In correspondence with the SEC, Hitachi had also openly acknowledged profiting from its business activities in Iran.

In its discussions with UANI, Hitachi stated that it, in September 2011, "issued a directive instructing Hitachi and all of its subsidiaries to end all further business activities with Iran."

Click here to view UANI's Iranian Business Registry.