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Is Xerox Still Doing Business With Iran, Sudan and Syria ?
Xerox Corp., in correspondence earlier this year with the Securities and Exchange Commission, was asked to spell out its dealings with nations such as Iran, Sudan and Syria. The three are subject to trade restrictions by the federal government, and doing business with them could constitute a federal crime.
According to Xerox, its dealings with the three over the past five years were legacy obligations having to do with providing spare parts and supplies.
In 2006, these legacy obligations amounted to revenue of $10.3 million, most of it from Iran. But the business has been on a constant slide, amounting to less than $200,000 last year.
Noting that dealing with such nations could hurt its reputation, Xerox told the SEC, "We are committed to severing all contacts … once our legacy obligations are fulfilled."
According to Xerox’s response to the SEC, there is a company — Xerox Iran Co. — operating in Tehran but not affiliated with Xerox and using the company’s name without permission.
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