The Woodlands, Texas -- Huntsman Corp. has said its "indirect foreign subsidiaries" will discontinue selling products to third parties in Iran and end any contractual arrangements there as soon as possible, according to a 23 Jan company statement.
Huntsman said that although all sales have been done in full compliance with US law, it was determined that the small amount of business done there does not justify the "reputational risk" currently associated with doing business with entities located in Iran, "due to the growing international concern over the policies of the current regime there."
UTI reported in November 2009 that the organisation: United Against Nuclear Iran (UANI) had challenged Huntsman to explain its sales of polyurethane in Iran.
In a letter to Huntsman chairman Jon Huntsman at the time, UANI president Mark Wallace said: "UANI calls on Huntsman to clarify whether the polyurethanes that it sells in Iran could be used to produce solid-fuel technology, as even the smallest chance of this potential dual-use is cause for great concern by the international community."
"Even in the case that Huntsman is certain that its use of its polyurethanes is completely harmless, UANI calls on Huntsman to cease doing business in Iran," Wallace added. (RD)