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Article: Waltham, Mass.-Based Thermo Electron's Units to Quit Sales to U.S. Foes.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 20, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Hiawatha Bray, The Boston Globe Knight Ridder/Tribune Business News
Sep. 20--The chief executive of Waltham-based conglomerate Thermo Electron Corp. has ordered his company's overseas subsidiaries to stop doing business with countries that have been named as sponsors of terrorism by the US government.
Richard Syron made the move in July, when he found out about sales by the subsidiaries to Iraq, Iran, Sudan, and Libya. The transactions, for products ranging from screwdrivers to chemical analysis gear, brought in only about $2 million last year, a fraction of the company's 2001 revenues of $2.1 billion. As a result, they were legal under US law, ...