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United Tech discloses 2012 business in Iran

Source : AP
Last Updated: Thu, Feb 07, 2013 16:30 hrs

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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