Hartford aerospace manufacturer United Technologies Corp. disclosed in its annual filing this week that three of its foreign subsidiaries sold products and services to Iranian-owned companies, in violation of U.S. sanctions enacted in 2012.
UTC said subsidiaries operating through its UTC Climate, Controls & Security segment sold fire safety products and services to entities controlled by Iran’s government in France, Switzerland and the United Kingdom over the past three years.
The entities included Bank Melli Iran, Melli Bank PLC, Bank Sepah, Bank Sepah International PLC, IranAir, and Bank Saderat Iran.
UTC-owned Chubb Fire & Security — a French company — sold just under $29,000 worth of products and services to those entities. Most of the sales came after the sanctions took effect in 2012.
Chubb also sold more than $12,300 worth of products to Iran-controlled Petrochemical Commercial Co. after the sanctions took effect. And Chubb’s sister company sold nearly $2,700 worth of security alarm services to several Iranian banks.
UTC said its subsidiaries have terminated their relationships with the Iranian entities.
