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Updated Saturday, April 10, 2010 2:18 pm TWN, Reuters

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U.S. group targets Honeywell over sales of security technology to Iran

NEW YORK -- A pressure group, United Against Nuclear Iran (UANI), is urging industrial conglomerate Honeywell International Inc to stop selling security technology to Iran, the group said on Thursday. Honeywell security products can be used for surveillance of oil pipelines and nuclear reactors, UANI said in a letter faxed to Honeywell it provided exclusively to Reuters. The sale of security technology, via a British subsidiary, violates company guidelines for business conduct, UANI said, adding it may sue or pressure the New York Stock Exchange to delist Honeywell if the company continues operations in Iran.

In response, Honeywell said it made a commitment not to undertake new projects in Iran, but is fulfilling its contractual obligations in accordance with U.S. and EU laws and regulations. “Should the U.S. Congress pass a law that prohibits subsidiaries of U.S. companies from doing business in Iran, Honeywell will comply fully as it does with all other laws in the countries in which it operates,” the company said in a statement.

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