UANI Applauds Transammonia for Ending Its Business in Iran
FOR IMMEDIATE
RELEASE
December 14, 2010
Contact: Kimmie Lipscomb, [email protected]
Phone: (212) 554-3296
UANI
Applauds Transammonia for Ending Its Business in Iran
New York, NY - UANI applauds
Transammonia for ending its business in Iran. Following
CNBC's segment
highlighting Transammonia's business in Iran, UANI, on December 10,
2010,
called on Transammonia to sever ties with Iran.
Transammonia
responded to UANI on
December 13, 2010, and made the following announcement regarding its
business
in Iran:
Trammo Trading
AG concluded that it would begin
withdrawing from activities with Iran, subject to any existing
contractual
obligations. The wind down will be completed as early as possible, but
no later
than the end of the first half of 2011.
Responding to
Transammonia's
decision, UANI President, Ambassador Mark D. Wallace, said:
It is
unfortunate that private companies persist in
hiding behind foreign subsidiaries to conduct business in
Iran. We
applaud CNBC for shining a bright spotlight on Transammonia's business
in Iran
and we applaud Transammonia's quick decision to cease that
business.
Public pressure on companies like Transammonia that do business in Iran
for
short-term profit will always compel these companies to make the right
decision
and to end their business in Iran.
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Click here to read UANI's
letter to Transammonia.
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