Tuesday, March 2, 2010

Caterpillar (NYSE: CAT): No Iran Sales

Caterpillar Doing Business in Iran

Caterpillar (NYSE: CAT) has taken the step of making sure none of its equipment is sold to Iran through any of its subsidiaries, as the company heads off any pressure from the U.S. government to clamp down on those still selling its products in Iran, although Caterpillar complies with existing regulations regarding doing business with Iran.

Most of this is in relationship to public-relations rather than legalities, as mounting pressure to cease doing business with Iran because of its nuclear aspirations has been growing.

A spokesman said this in a statement: Caterpillar "now has gone a step further by prohibiting its non-U.S. subsidiaries from accepting any orders for Caterpillar machines, engines and new parts where the subsidiary knows that the product would be shipped to Iran."

Caterpillar Doing Business in Iran

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