An Iran-based company affiliated with the Defense Industries Organization (DIO); has acted on behalf of Parchin Chemical Industries (PCI) as a key intermediary to procure parts that are used to develop missile propellant, according to the U.S. Department of the Treasury.

Has assisted the DIO with civilian and military projects; on behalf of PCI, served as the recipient of hundreds of thousands of dollars' worth of centrifuge spare parts used in the production of ballistic missile propellant from China-based suppliers, according to the U.S. Department of the Treasury.

Controlled by Pars Garma Industrial Development Company; formerly represented on the board of directors of Isfahan Alloy Steel Complex (IASC).

Established in 2003.

Sanctions

Added on March 30, 2022, 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 13382, which targets proliferators of weapons of mass destruction and their delivery systems; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions; also subject to the Iranian Financial Sanctions Regulations; foreign financial institutions facilitating transactions for the entity may be prohibited from opening or maintaining correspondent or payable-through accounts in the United States.