United Tech discloses 2012 business in Iran

United Tech discloses 2012 business in Iran

Credit: AFP/Getty Images

A picture taken on August 20, 2010 shows an Iranian flag fluttering at an undisclosed location in the Islamic republic next to a surface-to-surface Qiam-1 (Rising) missile which was test fired a day before Iran was due to launch its Russian-built first nuclear power plant. Iranian Defence Minister Ahmad Vahidi said the missile was entirely designed and built domestically and powered by liquid fuel. AFP PHOTO/VAHID REZA ALAEI (Photo credit should read VAHID REZA ALAEI/AFP/Getty Images)

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KMOV.com

Posted on February 7, 2013 at 3:30 PM

 HARTFORD, Conn. (AP) -- United Technologies Corp. says two overseas affiliates earned $630,000 as the company ended business with Iran.

   The aerospace and building systems conglomerate based in Hartford, Conn., disclosed in its annual report Thursday that its non-U.S. affiliates generated $3.5 million in revenue "related to the orderly winding down of legacy business related to sale of fire safety equipment.

   United Technologies said it stopped new business with Iran in 2009.

   It also said non-U.S. affiliates of its Otis subsidiary serviced, maintained and modernized elevators at Iranian diplomatic premises in France, Hungary and Kuwait last year. The Otis affiliates earned $6,000.

   The U.S. imposed sanctions on Iran's Central Bank and other financial institutions to put pressure on the country's nuclear program, which the U.S. and other nations fear aims to build nuclear weapons.
 

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