Tags: Iran | Iran | Honeywell | Volvo | Volkswagen

Major Corps Eye New Business in Iran While Cutting US Jobs

Image: Major Corps Eye New Business in Iran While Cutting US Jobs
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By    |   Wednesday, 10 May 2017 02:20 PM

Four major U.S. companies that have recently announced plans to cut back on the number of jobs in their American divisions also have made clear they are ready for new business in Iran.

Honeywell, Volvo, Volkswagen, and Schlumberger (the world’s largest oilfield services provider) are eyeing Iran for new business ventures, according to United Against Nuclear Iran (UANI), a bipartisan group opposed to the nuclear agreement with Iran.

Newsmax asked White House press secretary Sean Spicer on Tuesday what the White House reaction was to the news provided by UANI.

“I think that speaks for itself,” Spicer replied, “The president was very clear on what he thinks of the Iran deal, and companies need to abide by the law.”

Volvo Trucks is poised to produce three new models of Volvo trucks in Iran working in conjuction with SAIPA Diesel, Iran’s second largest automaker.

Last year, Volvo made multiple rounds of job cuts totaling around 1,200 layoffs in 2016 — including at its Mack Trucks factory in Lehigh Valley, Pa and its plant in Dublin, Va.

Honeywell Senior Vice President Michael Millard said before the Iran deal was reached that, if there was an opening to Iran for his company, “there would be a lot of potential. We started contingency plans to look at what the opportunities will be and how we would mobilize our sales and market forces.”

Honeywell Aerospace, the Arizona-based subsidiary of Honeywell International, announced in October its third round of layoffs since 2016.

The oilfield services colossus Schlumberger announced in November that it had signed a memorandum of understanding with the Islamic Republic to develop three oilfields, according to The Wall Street Journal. Schlumberger has reportedly cut 30,000 jobs globally since 2015, including an undisclosed number of jobs in Houston.

In January, the CEO and owner of the Iranian automotive company Mammut Khodro, Mehrzad Ferdos told reporters, “A deal has been concluded between Mammut and the German automaker Volkswagen. The two company’s first joint production line will be launched by the end of the current Iranian year.”

Volkswagen announced in November of last year that it was cutting 30,000 jobs worldwide, including in the United States.

“These new revelations should be alarming to Americans eager for more jobs at home, and to corporate leaders around the world,” David Ibsen, president of UANI, told me. “We know from polling that large majorities of American voters want to shine a light on the global corporate money trail flowing into Iran. They feel like these corporations are operating in darkness. Global companies risk alienating their investors and core customers with their behavior — and rightfully so.”

UANI is a bipartisan organization whose board members include former Florida Gov. and Republican presidential hopeful Jeb Bush and former Connecticut Sen. Joe Lieberman, the 2000 Democratic nominee for vice president.

John Gizzi is chief political columnist and White House correspondent for Newsmax. For more of his reports, Go Here Now.

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Honeywell, Volvo, Volkswagen, and Schlumberger (the world’s largest oilfield services provider) are eyeing Iran for new business ventures, according to United Against Nuclear Iran (UANI), a bipartisan group opposed to the nuclear agreement with Iran.
Iran, Honeywell, Volvo, Volkswagen
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2017-20-10
Wednesday, 10 May 2017 02:20 PM
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