Scania says US sanctions on Iran affects the company

According to Mikrofonnews Agency (MHA), Scania’s entire sales into Iran could be lost if the United States reinstates sanctions against the country, the Swedish truckmaker’s head warned on Friday, a day after first-half results showed the company’s Iranian order book was already being hit, Reuters says.

CEO Henrik Henriksson said Scania, which was one of the first truck companies to return to Iran after the EU lifted sanctions in early 2016, had cancelled all orders that it could not deliver by mid-August as anything after would have been hit by the new sanctions.

“Looking at the information we have on hand today, of course if nothing is improving, then (our) whole volume will be in jeopardy,” told Reuters.

Among truckmakers, Scania, which is owned by Volkswagen, has one of the larger presences in Iran, selling 5,000-6,000 trucks and buses annually, according to Henriksson. That represents about 5 percent of its global vehicle orders of 109,415 last year.

 

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