SMS Siemag

"German steel plant maker SMS Group signed a $400 million deal in February last year to expand capacity of an Iranian steel plant. However, it has put its plans on ice and is wrapping up its business in the country." (5/24/2018).

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"During a two-day visit to Tehran the German economy ministry said several firms from the Mittelstand, the small-to-medium-sized companies that form the backbone of the economy, had also signed deals with Iranian partners. These included SMS group, a builder of steelmaking plants, and INTRA industrial solutions." (Reuters, "Siemens signs Iran rail contract as Germany drums up business," 10/3/2016). 

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“As economic sanctions eased last month under a temporary accord, Iran is shaping up as a hot, untapped opportunity for Western steel exporters, particularly high-grade varieties…About 45 producers sent representatives to a steel conference last month in Tehran to study export opportunities and investing in Iran’s domestic industry, Karbasian said. More than 10 steelmakers contacted by Bloomberg declined to comment or said they hadn’t attended the event…Germany’s SMS Siemag gave addresses at the steel event in Tehran, Karbasian said…A spokesman for SMS, which sells equipment to the steel industry, said it attended the conference to rebuild relationships in the country. The company, which has done business in Iran for more than 25 years, said while it’s products were not covered by sanctions it had halted trade as its customers struggled to access finance for deals.” (Bloomberg, “Iran Thaw Seen Re-Stoking $6 Billion Market for Steel,” 3/12/14)

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“The German SMS Siemag company is ready for investment in Iranian steel projects, president and CEO of SMS Siemag, Burkhard Dahmen said, Tasnim news agency reported on Dec. 4. Dahmen made the remarks during a meeting with head of the Iranian Mines & Mining Industries Development and Renovation Organization (IMIDRO), Mahdi Karbasian in Tehran. Dahmen underlined that the EU policy towards boosting relations with Iran is a new opportunity which should not be lost. During the meeting two sides agreed that SMS Siemag to involve in joint venture with other international steel companies in Iranian steel projects. SMS Siemag has earlier participated in some steel projects in Iran including the Hormozgan and Mobarakeh steel plants.” (Trend, “German company ready to invest in Iranian steel projects," 12/6/13)

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In 2006, SMS Siemag, then called SMS Demag, helped to build a “turnkey iron and steel plant in the Iranian province of Hormozgan, not far from the provincial capital of Bandar Abbas, [Iran].” (Press Relase, "SMS Demag AG builds an iron and steel plant on the Persian Gulf,” 6/21/06)