Iran News ...


12/9/04

ThyssenKrupp succumbs to US pressure over Iran's board membership

Berlin, Dec 9, IRNA -- German industrial conglomerate ThyssenKrupp gave in to American pressure as Iran is to vacate its seat on the corporate's supervisory board, DPA said Thursday.

Iran's representative at ThyssenKrupp, Mohammad-Mehdi Navab-Motlagah will not reportedly seek re-election at ThyssenKrupp's January 21 annual shareholders meeting following American threats to bar the German heavy industry giant from public contracts in the US.

Washington had already forced ThyssenKrupp last year to slash Iran's share in the company from 7.8 to 4.5 percent.

Iran acquired 25.01 percent of Krupp's share in 1976. That figure was lowered to 7.8 percent after Krupp and Thyssen merged in 1999.

... Payvand News - 12/9/04 ... --



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