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Germany’s MAN looking into Iran prospects

Sunday, 20 August 2017 9:54 AM [ Last Update: Sunday, 20 August 2017 10:45 AM ]

MAN Diesel & Turbo, a German multinational that produces engines and turbo machinery, says it is paying a serious look at Iran’s investment potentials.

MAN Diesel & Turbo, a German multinational that produces engines and turbo machinery, says it is paying a serious look at Iran’s investment potentials, saying it has already taken measures to restart its business in the country.

“We are very active in Iran. We’ve restarted our company there, called MAN Iran Power. We are now building a workshop there, I just signed a lease on the shed (a place where engines or turbines are designed and tested),” Gaby B. Hanna, vice-president and regional head of MAN Diesel & Turbo, was quoted as saying by media.

“We see Iran, putting aside all the political issues, as a big market for us,” Hanna was quoted as saying by the Gulf News. “The biggest growth market for us.”

Part of the Volkswagen Group, which is set to start exporting cars to Iran this month after 17 years away from the country, MAN Diesel & Turbo is ensuring that it is fully compliant with all regulations when dealing with Iran, added the report.

To the same effect, Uwe Lauber, CEO of MAN Diesel & Turbo, noted that Iran was a very important market before sanctions were placed on it.

However, due to the freeze on business dealing with Iran, the country had been forced to turn to China and South Korea.

“Over the last couple of years, nothing has been invested. And of course, during the sanctions, we were not able to serve our customers … and to keep plants operating, the Chinese and Koreans were there,” Lauber said.

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