Info:
Reyco subsidiary MCS International is a German company ostensibly owned by German nationals or Iranian expatriates with dual Iranian-European citizenship to conceal its ties to the Iranian Government, EIKO, TEACO, and Rey Investment Company;
MCS International was audited by TEACO in October 2010 and determined to be in poor financial standing;
However, EIKO management rescued MCS International from bankruptcy and insisted on keeping the company open because it viewed MCS International as key to facilitating business in Europe;
EIKO management viewed MCS International as being too important to EIKO’s international plans to allow it to go bankrupt and believed that it would be easier to rescue MCS International from bankruptcy than to create or acquire new foreign companies on behalf of EIKO due to U.S. and international sanctions;
EIKO subsequently ordered that responsibility for MCS International be transferred from EIKO-controlled TEACO to Iranian businessmen, who were sent to oversee the company;
Following this transfer, the two individuals owned the shares for MCS International, but answered directly to EIKO;
Also Known As:
Mannesman Cylinder Systems
MCS Technologies Gmbh
Country:
Germany
Address:
Karlstrasse 23-25, Dinslaken, Nordrhein-Westfalen 46535, Germany
Established:
2004
Phone:
49-2064-433-0
Web Site:
www.mcs-international-gmbh.de
www.mcs-tch.com
Reason for the color:
» As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599, which targets entities controlled by the Government of Iran and Iranian financial institutions; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions;
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) in June, 2013 for being used to conceal bussinesman ties to the Iranian Government, EIKO, TEACO, and Rey Investment Company;
» Removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action, but identified as a part of the Government of Iran, prohibiting transactions with U.S. parties;
» German companies enable Iran’s nuclear program and infrastructure;