Caterpillar, the construction equipment group, has become the latest US company to bow to a “name and shame” campaign by influential lobbyists by announcing steps to sever trading links with Iran.
The company has said it will bar its non-US subsidiaries from accepting orders for products that they know are destined for shipment to Iran.
The New York-based United Against Nuclear Iran, which spearheaded a campaign against the Illinois company, greeted the announcement as its second victory in a month after Huntsman, the chemicals group, announced in January its foreign subsidiaries would suspend sales to Iran in view of the “reputational risk” posed to the company.
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