Iran Combine Manufacturing Company used to be one the top 10 state-owned companies prior to 2008. However in 2011 the company’s production almost came to a halt. In 2012 the layoffs began and in few months majority of its workers were laid off.
The crises in the company was intensified in 2010 after being taken over by Astan-e-Qods, a multibillion dollar state enterprise. Even though the company’s name appears in Iran’s stock market book all the production facilities of the factory have been sold.
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