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Toyo Engineering Corporation

Toyo Engineering Corporation

Industry: 
Engineering
Symbol: 
TYO: 6330
States: 
TX
Country: 
Japan
Sources: 

 

“Chiyoda, Toyo Engineering and other leading Japanese plant builders are launching feasibility studies to clinch orders in resource-rich Iran, hoping to catch up with European and Chinese competitors already making inroads there. Japanese contractors and automakers closed down or greatly cut back their business in Iran after the international community imposed sanctions for the country's nuclear program. But now that the embargoes have been lifted, investments and exports to the country are expected to pick up again.” (Nikkei Asian Review, “Japanese engineering giants returning to Iran,” 3/3/2016)

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Two Japanese Toyo Engineering workers are in Iran to deal with any defects in a plant the firm completed in 2009. According to a company source, they must stay there for at least another year.Though the firm feels it is important to take the Japanese and Western government positions into consideration, Toyo Engineering said it cannot fail to complete its contract. (The Nikkei Business Daily, " Japan Plant Builders Stepping Away From Iran," 10/14/2010)