August 8, 2018 / 10:41 AM / 13 days ago

Denmark's Haldor Topsoe to cut 200 jobs due to U.S. sanctions on Iran

COPENHAGEN (Reuters) - Danish engineering company Haldor Topsoe, one of the world’s leading industrial catalyst producers, said on Wednesday it would cut around 200 jobs from its workforce of 2,700 due to new U.S sanctions on Iran.

Companies doing business with Iran will be barred from the United States, President Donald Trump said on Tuesday, as new U.S. sanctions took effect despite pleas from Washington’s allies.

The company said the reinstatement of U.S sanctions had made it “extremely difficult” for its customers in Iran to finance new projects.

“We want to ensure that Topsoe remains a competitive business with significant potential for growth. Therefore, due to the current situation, we must unfortunately say goodbye to a number of good colleagues,” chief executive Bjerne Clausen said in a statement.

Reporting by Emil Gjerding Nielson; Editing by Mark Potter

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