Alfa Laval exits Iran

Alfa Laval was one of many Swedish companies that tried to re-enter the Iranian market after the Joint Comprehensive Plan of Action (JCPoA) deal was struck in 2015, but the industrial company has now announced that it is scrapping plans to expand in Iran. “Doing business in a country such as Iran is not straightforward. The banks are a critical part of the equation; the financial transactions are not simple and require a lot of work,” says Peter Torstensson, vice president of communication at Alfa Laval.

One of the problems is that sanctions are making it impossible to carry out US-dollar transactions.

Alfa Laval axes 700 jobs

Sweden’s Alfa Laval has launched a SKr 1.5 billion cost-cutting programme and will axe 700 jobs worldwide.

The company is feeling the effects of the sharp downturn in the oil and gas industry, and in the shipbuilding industry. CEO Tom Erixon noted that shipbuilding has hit its lowest level in 30 years, but firmly believes that the business will recover: “There is a need to replace vessels,” he said.