Italy

According to its 2019 financial statement, Azimut group owns a 20% stake in Mofid. 

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According to the Financial Times, Azimut “has become the first foreign investment group to buy a stake in an Iranian financial company [Mofid Entekhab]….  Azimut will buy the stake through AZ International Holdings, its Luxembourg-based unit.  Azimut and Mofid also plan to establish a fund, domiciled in Luxembourg, for foreign investors to invest in Iran.”  (Financial Times, “Italian asset manager buys stake in Iranian rival,” 10/10/2017).  In the same article, Azimut is quoted as saying, Azimut was “looking for an opportunity to invest in a very interesting market. Iran is a great story.”  (Id.).

Lists Takin Steel Machinery Co., Ltd as its distributor in Iran.

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Atomat S.p.A. (“Atomat”) was listed as an exhibitor at the 13th International Exhibition of Metallurgy in Iran (“METAFO”), which took place at the Tehran International Permanent Fairground from November 24-27, 2016. (Iran METAFO, “List of
Exhibitors”):

Assaloni appears to have a presence in Iran through a sales distributor, the Bahman Group.  (Irancode, “Assaloni”).

AMEL has no commercial ties with the sanction-designated Iranian entity, Ervin Danesh Aryan Company. 

3P Prinz is a "reliable, efficient and performance pump manufacturing company. It's based in Tuscany, Italy."

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Tetco Engineering & Services Company Ltd., based in Turkey, is listed on 3P Prinz's website as a contact in Tehran, Iran.

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3P Prinz srl (“3P Prinz”) reportedly agreed to exhibit at the 22nd International Oil, Gas, Refining, and Petrochemical Exhibition (the “Exhibition”) that took place in Tehran on May 6-9, 2017. (Iran Oil Show Website, “Exhibition Information”). 

"Italferr has been chosen to provide the Iranian Railways (RAI) with assistance in defining the contract for the design and construction projects of the 410 kilometre High Speed line which will link Tehran to Qom and Isfahan, the biggest cities in the Islamic republic of Iran." (2017)
 

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"Italferr, a unit of Italy's Gruppo FS Italiane, said in March 2016 it had signed a four-month, 700,000 euro consultancy contract with Iran's state railway entity on a high-speed rail line. Iranian officials have said Khatam al-Anbiya, an IRGC subsidiary sanctioned by the United States, is the Iranian contractor on the project. Italferr named only Chinese company China Railway Engineering Corp. (CREC) as the contractor, and did not mention Khatam al-Anbiya. Officials with Italferr, CREC, and Khatam al-Anbiya did not respond to requests for comment. The IRGC declined to comment.($1 = 0.9362 euros)." (Reuters,  "Post-Sanctions Deals with Iranian Firms Linked to Khamenei," 1/19/2017).

 

In January 2017 it was reported, “some old Iranian home appliance companies, including Arj and Azmayesh, have not been revamped and modernized during the past decades, Abbas Hashemi an official in the Iranian Ministry of Industry told IRNA on Saturday, accordingly the Ministry of Industry has decided to hold talks with some foreign companies namely the American multinational conglomerate corporation General Electric (GE), the American multinational manufacturer and marketer of home appliances Whirlpool Corporation, and the Italian Ariston Thermo Group in a bid to revive and update the named Iranian companies.”

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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," 1/8/2016).

"According to a report by IFP, the International Renewable Energies Conference will be held on December 6-8 with the support of Iranian Vice-Presidency for Science and Technology. More than 70 European and Asian reputable firms in the fields of wind, solar, geothermal and biomass energies will partake in this conference. These companies are from such countries as Germany, Denmark, England, France, Italy, Spain, Austria, China, and Norway. Given the presence of such leading firms as Vestas, nVision, Huawei, Goldwind, Lahmayer, Turboden and FaroWind, as well as reputable global investment companies, this conference will use the opportunity to show Iran’s domestic capacities to foreign firms and investors." (Iran Front Page,  "70 European and Asian Firms to Attend Iran's Renewable Energies Conference," 12/6/2016). 

"Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions ten months on from the lifting of international sanctions...European export credit agencies are guaranteeing trade finance for Western companies doing business with Iran. France's Coface has signed an agreement with Iran to guarantee trade finance on behalf of the French government. Nevertheless, major transactions were yet to be concluded due to the banking issues." (Reuters, "Cautious Western insurers rebuild business ties with Iran," 10/21/2016).