Caterpillar Inc has tightened its policy on not doing business with Iran to prevent foreign subsidiaries from selling equipment to independent dealers who then resell it to the Middle Eastern country, which is subject to extensive trade sanctions.
Existing U.S. law had allowed such third-party sales, which represented less than 0.2 percent of Caterpillar's $32.4 billion in 2009 revenue, the world's largest maker of construction and mining equipment said on Monday. |
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