Stanley Black & Decker

On February 5, 2015 and June 4, 2015, Stanley Black & Decker submitted a voluntary self-disclosure to OFAC (ENF 42949), which it supplemented in response to OFAC's requests for information on May 25, 2017, April 5, 2018, and April 16, 2018.

According to a settlement with the US Treasury Department signed March 14, 2019, "Stanley Black & Decker of New Britain, Connecticut is a diversified global provider of hand tools, power tools, and other mechanical tools and related services. GQ, located in China, is a subsidiary of Stanley Black & Decker that manufactmes and sells power tools.  (https://home.treasury.gov/system/files/126/20190327_decker_settlement.pdf)

Stanley Black & Decker began acquisition negotiations with GQ in 2011, during which the company engaged in due diligence and discovered GQ actively exported to Iran. Over the course of the ensuing negotiations, Stanley Black & Decker took steps to cease GQ's sales to, and transactions with, Iran and other OF AC-sanctioned countries prior to the acquisition date and made ceasing such sales a pre-requisite condition of the closing. GQ's representatives agreed to these terms and conditions."