Manufacturing

Inox Tech manufactures "longitudinally welded corrosion resistant pipes in a wide range of sizes and materials" (Company Website).

According to the company's website, Inox Tech has manufactured corrosion resistant pipes for a variety of clients completing projects in Iran, including 19 projects listed on the website. Most recently, in 2010 the company assisted the Kaveh Methanol Company to develop a methanol plant. Inox Tech's website also trumpets its work on the completion of Phases 4 and 5 of Iran's South Pars gas field development project.

Everest Kanto Cylinder is an India-based international manufacturer of high-pressure gas cylinders, which are used to transport volatile gases for export. 

According to Forbes, India's Everest Kanto Cylinder (EKC) began supplying Iran with compressed natural gas cylinders in the 1990s, and in 2003 it built a manufacturing plant in Dubai to keep up with demand. In 2005, an industry publication reported that Everest Kanto planned to invest $20 million to construct another plant in Iran. In 2006, an investment advisory firm stated EKC estimated it held approximately 30% of Iran's cylinder market share, and 22% of the company's 2005 exports went to Iran.

According to a trade publication, EKC's subsidiary EKC Hungary Kft owns American company CP Industries Holdings, Inc. The company website states that CP Industries manufactures high-pressure seamless flasks for the U.S. Navy, which are used in critical shipboard systems

"Atlasin is the exclusive representative of Airsep in Iran territory since 1991 and has already sold more than 5000 oxygen concentrators for patients in all around Iran.”

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Over the last three presidential administrations, the United States government has granted AirSep Corporation 27 special licenses to do business in Iran. (New York Times, "Companies with Permission to Bypass Sanctions," 12/24/10)

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"Helen Ying and Larry Hughes, who head AirSep's medical and industrial divisions, said the company had received licenses to sell products like an oxygen machine that effectively turns a room into an oxygen tent and central oxygen systems that supply entire hospitals. The company uses a middleman in Iran, whom Mr. Hughes declined to name for competitive reasons, to make the sales, and another company to do the installations. 'It's a hard way to do business,' he said." (New York Times, "Licenses Granted to U.S. Companies Run the Gamut," 12/24/10)

As of May 17, 2021, Iowa's Public Employee's Retirement System lists Hyundai on its Iran Scrutinized Companies List.

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As of August 15, 2019, the state of Iowa listed Hyundai on its Iran scrutinized companies list.

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"A week after it was announced that French carmaker Peugeot-Citroen had left the Iranian market, Japan’s Mazda and South Korean Hyundai have also suspended contracts with Iran, according to a member of the parliamentary Industries and Mines Commission. In an interview with the parliament-affiliated website, Valiyollah Maleki said June 12, “Mazda and Hyundai’s interests in the U.S. market are much more than in Iran, and they will not sacrifice their profit for the sake of Iran.”" (June 13, 2018).

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"So despite concerns over regulation and reputation, that opportunity explains the caravan of container carriers that started resuming service to Iran back in January. The Iranian port at Bandar Abbas now welcomes ships from Evergreen, Hyundai, OOCL, Hanjin, “K” Line, KMTC, X-Press, Yang Ming, and many more..." (Global Trade, "Transportation/Logistics:Iran is Back Open for Business," 11/1/2016).

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The Hyundai Corporation is a general trading company specializing in a wide variety of shipping, industrial, chemical, and electrical products. Hyundai Heavy Industries owns a controlling stake  in the Hyundai Corporation.

In 2005, Hyundai Corp signed a $1.9 billion contract to provide Iran with materials “in the fields of shipbuilding, machinery, steel & metal, chemicals, home appliances, etc.” Hyundai Corp’s Tehran Office website contains a Major Products section, which contains a litany of sensitive products with wide applicability in the Iranian energy, petroleum, and even defense industries. This products include: oil tankers, LNG carriers, diesel engines, signaling systems, optical cables, conductor wires, high voltage cables, transmission cables, steel, aluminum, zinc, polypropylene, other chemicals, and consumer electronics. 

As of October 29, 2021, Korea Shipbuilding & Offshore Engineering Co, the parent company of Hyundai Heavy Industries, is listed on Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. Hyundai Heavy Industries is not listed.

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As of July 1, 2021, Korea Shipbuilding & Offshore Engineering Co is not listed on Mississippi's list of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors.

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"The company, through a sub-holding company, was reported as potentially having entered into a contract to build ships for an Iranian state-owned shipping company. CalPERS moved the company into “monitor” status in 2018. News reports in 2018 cite a source at the company as confirming no ships have been delivered under the contract, and that “it is impossible for [the company] to deliver the ships with U.S. sanctions back in position.” CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act."

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In 2020, the U.S. state of Mississippi listed Hyundai Heavy on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

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As of October 2019, Hyundai Heavy Industries remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. 

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Iranian oil, gas, petrochemical and energy firm, Nirou Taban Spadana Company (“Nirou Taban) claims to sell products of Hyundai Heavy. 

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"In December 2016, signed a $760 million contract with the Islamic Republic of Iran Shipping Lines (IRISL) to build four 14,500 20-foot equivalent unit (TEU) container ships and six 49,000-ton tankers for petrochemical products; tankers were built by its affiliate, Hyundai Mipo Dockyard; is taking a “wait-and-see approach” noting that it will be impossible to deliver the ships to Iran under U.S. sanctions." ("Mazda, Hyundai Leave Iranian Market, Affecting Cars and Shipping," Radio Farda, June 13, 2018.

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"Managing Director of the Islamic Republic of Iran Shipping Lines Mohammad Saeedi said on Saturday the first of 10 new ships ordered by his company from Hyundai Heavy Industries will be delivered in March 2018." (December 2017)

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In 2017 the U.S. state of California listed Hyundai Heavy Industries as a company under review for potentially having entered into a contract to build ships for an Iranian state-owned shipping company.

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In 2017 the U.S. state of Pennsylvania, Mississippi, South Carolina and Tennessee listed Hyundai heavy., on its Iran scrutinized list for an oil related involvement of at least US $20 million since 1996, rendering Hyundai Engineering & Construction ineligible for investment and/or state contracting. 

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In 2016 Tennessee used the South Carolina list of "Entities Ineligible to Contract with the State of South Carolina or any Political Subdivision of the State per the Iran Divestment Act of 2014, S.C. Code Ann." as its list of persons it determines engage in investment activities in Iran. Hyundai Heavy was included on this list in 2016. "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."

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In 2016, Hyundai Heavy Industries was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996 and new involvement was identified.

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Hyundai Heavy Industries Co. received a $700 million order to build 10 ships for Iran’s state-owned shipping company in a deal that signifies the Middle Eastern country’s return to the international market after a decade. The deal is part of plans by Islamic Republic of Iran Shipping Lines and Iranian Offshore Oil Co., a subsidiary of state oil company National Iranian Oil Co., to spend a total of up to $2.5 billion to modernize their fleets. Iranian shipping companies haven’t modernized their fleets since 2006, when the United Nations imposed wide-ranging sanctions against Tehran over its uranium-enrichment program... “This marks Iran’s first ship order since international sanctions were lifted early this year. Hyundai plans to provide technical support for Iran to run its shipyards as well,” the South Korean company said Sunday. (Wall Street Journal, "Hyundai Heavy Gets $700 Million Deal to Build 10 Ships for Iran Shipping Lines," 12/10/2016).

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"Iran’s state-owned shipping company is in advanced talks with Korean shipyard Hyundai Heavy Industries Co. for a $650 million order of container ships and tankers, people involved in the talks said, marking Iran’s return to the international market after a decade. The deal may be announced as early as this week and is part of plans by Islamic Republic of Iran Shipping Lines and Iranian Offshore Oil Co., a subsidiary of state oil company National Iranian Oil Co., to spend a total of up to $2.5 billion to modernize their fleets. A Hyundai Heavy spokesman said Monday that Islamic Republic of Iran Shipping Lines, or IRISL, was in talks with the shipyard over a 10-ship order, but gave no details. Iranian shipping companies haven’t modernized their fleets since 2006, when the United Nations imposed wide-ranging sanctions against Tehran over its uranium-enrichment program." (The Wall Street Journal, "Iran Shipping Lines Close to $650 Million Korean Order," 12/5/2016).

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Hyundai Oilbank and Hyundai Corporation are subsidiaries of Hyundai Heavy.

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"Iran said on Saturday that a deal has been reached with South Korea to launch a joint shipbuilding venture between the two countries. The venture will be established between Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) and Hyundai, IRNA reported. ISOICO Managing Director Hamid Rezaian has emphasized that the related consultations as well as key agreements for the move have already been taken care of... Rezaian had announced in late November that ISOICO is looking into partnerships with major international shipbuilders including Hyundai and Germany's Nordic Yards Wismar." (Press TV, "Iran, South Korea to launch shipbuilding JV," 12/5/15) 

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On March 24, 2015, Florida State Board of Investments removed Hyundai Heavy Industries from the Iran Continued Examination list during the quarter.

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"None of the firms targeted are based in the United States. Only one name might appear familiar to American consumers: Hyundai Heavy Industries, the world's largest shipbuilder. However, that company has no connection to the similarly named automaker, said Jim Trainor, a spokesman for Hyundai Motor Co. The group United Against Nuclear Iran has criticized Hyundai Heavy Industries for its dealings with Iran and has faulted the Obama administration for failing to put it on the sanctions list." (The Baltimore Sun, "22 companies are listed for alleged Iran ties, sanctions," 9/17/2012)

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Hyundai Heavy Industries is the world's largest shipbuilder, with a 15% world market share. It also manufactures a variety of industrial, construction, and electrical equipment (Company Website). 

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Hyundai Heavy Industries has received numerous contracts to provide manufactured goods to Iran over the past six years. In 2004, HHI received an $18 million contract to provide construction equipment including excavators and wheel loaders to assist in the development of Iran's South Pars gas field. 

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In 2007, HHI received a $54 million contract to upgrade a refinery owned by the National Iranian Oil Engineering and Construction Co, a state-owned entity. And as recently as 2009, HHI received a contract to provide six high-pressure pump units to outfit an Iranian power plant.

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In 2005, HHI together with Daewoo Shipbuilding received a $1 billion contract from the state-owned National Iranian Oil Tanker Co to build 10 oil tankers (Bloomberg). At the contract’s issuance, NIOTC officials planned to order another 35 vessels for 2010; the status of this order is unknown. Each tanker is capable of carrying 2 million barrels of crude, providing a massive increase in shipping capacity for the Iranian petroleum industry.

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HHI owns a controlling stake in the Hyundai Corporation, a general trading company specializing in a wide variety of shipping, industrial, chemical, and electrical products. Hyundai Corp signed a $1.9 billion contract to provide Iran with materials “in the fields of shipbuilding, machinery, steel & metal, chemicals, home appliances, etc.” Hyundai Corp’s Tehran Office website contains a Major Products section, which contains a litany of sensitive products with wide applicability in the Iranian energy, petroleum, and even defense industries. This products include: oil tankers, LNG carriers, diesel engines, signaling systems, optical cables, conductor wires, high voltage cables, transmission cables, steel, aluminum, zinc, polypropylene, other chemicals, and consumer electronics. 

• Icarus Design was listed on the June 28, 2010, US Federal Register's banned entity list "for reexporting the Bradstone Challenger, a vessel that was subject to the EAR, to Iran for intended use by the Iranian Revolutionary Guard Corps (IRGC) Navy and for providing technical assistance on Iranian naval projects."

• See Icarus Marine and Scavenger Manufacturing.

Speed boat surface propulsion system manufacturer Q-SPD was listed on the June 28, 2010, US Federal Register's banned entity list "for reexporting the Bradstone Challenger, a vessel that was subject to the EAR, to Iran for intended use by the Iranian Revolutionary Guard Corps (IRGC) Navy and for providing technical assistance on Iranian naval projects."

• Austral Aero-Marine Corp. organized earlier contracts between Icarus Marine and Tehran's Tadbir Sanaat Sharif Technology Development Center (TSS), importer of the Bradstone Challenger on the Iranian side. (Mail & Guardian, "How SA company oiled Iran's war machine," 9/24/2010)

• Austral Aero-Marine Corp. was listed on the June 28, 2010, US Federal Register's banned entity list.

• See Scavenger Manufacturing and Icarus Marine. 

"A company co-owned by a close aide to former apartheid president PW Botha helped Iran evade American sanctions by sneaking a James Bond-style speedboat through South Africa last year.... The US Federal Register published a notice three months after the incident, slapping trade restrictions on the parties allegedly involved. As background, it said the commerce department had sent initial restriction notices to two Iranian entities and a Cape Town company, Icarus Marine, on that Friday, warning them not to proceed with the re-export -- but to no avail. Icarus Marine is a small design consultancy co-owned by its managing director, Shawn de Villiers, and naval architect Gunther Migeotte. The US still regards Icarus Marine as a culprit, as a further notice in June this year placed it and its Norwegian sister company, Icarus Design, on an 'entity list' of persons "acting contrary to the national security or foreign policy interests of the United States." (Mail & Guardian, "How SA company oiled Iran's war machine," 9/24/2010)

In January 2009, "[Scavenger Manufacturing] co-owned by a close aide to former apartheid president PW Botha helped Iran evade American sanctions by sneaking a James Bond-style speedboat [the Bradstone Challenger] through South Africa last year. Willem "Ters" Ehlers, a former navy officer and Botha's private secretary, is no stranger to apartheid-era embargo-busting. Now his company has shipped the speedboat to Iran, where the elite Revolutionary Guard is mass-producing it as an attack craft armed with torpedoes and missiles.... The transaction appears not to have broken United Nations sanctions targeting Iran's nuclear programme, but United States export restrictions on Iran were violated, as the speedboat contains controlled US "dual-use" components.... [S]hipping sources confirmed that [Scavenger Manufacturing] was the 'shipper' of the speedboat -- the formal term for the party responsible for the cargo -- as it transited South Africa." (Mail & Guardian, "How SA company oiled Iran's war machine," 9/24/2010) 

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On August 10, 2010, Rear Admiral Ali Fadavi, of the Iranian Revolutionary Guard Corps navy announced the "receipt of 12 speedboats equipped with missiles and torpedoes": "'[It] is a British ship that holds the world speed record. We got a copy [on which] we made some changes so it can launch missiles and torpedoes... in case of a conflict, we will be everywhere and nowhere to face the enemies.'" (Mail & Guardian, "How SA company oiled Iran's war machine," 9/24/2010)