EghtesadOnlinbe: Westminster Group PLC has made progress in implementing the contract for supplying security equipment at an airport in Iran.
The $24 million contract was put on hold following the US withdrawal from the Iran nuclear pact in May. The US move led to uncertainty among suppliers over possible sanctions against Iran. European governments, including the UK, though are supportive and are putting measures in place to protect EU companies from US action. These are largely in place and expected to be formally announced by August 6, Proactiveinvestors.co.uk reported. Westminster noted that it has also made good progress through its own efforts on financing, banking and its supply chain with workable arrangements in place on key issues, according to Financial Tribune.