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DaimlerChrysler pulls out of Iran, weekly reports dpa German Press Agency

Published: Monday February 12, 2007 Stuttgart, Germany- DaimlerChrysler is pulling out of Iran because of growing US pressure to end business investment there, a German weekly newspaper, Wirtschaftswoche, reported Monday in its online edition. The weekly said the German-American company would next week give up its 51-per-cent equity in Setareh Iran, its local distribution company. A spokesman for DaimlerChrysler in Stuttgart declined to comment.



Setareh was the exclusive distributor in Iran of Mercedes-brand vehicles, the weekly said, adding that pressure from Washington had grown for it to cease doing business in Iran, such as forbidding use of US parts in any vehicle sold inside Iran.



© 2006 dpa German Press Agency







