By Mengqi Sun

Adhesives manufacturer H.B. Fuller Co. said the U.S. Treasury Department has issued it a warning after the company disclosed possible violations of U.S. economic sanctions on Iran.

The St. Paul, Minn., company said in a regulatory filing this week that the Treasury Department's Office of Foreign Assets Control, which enforces U.S. economic sanctions, notified the company in December that the agency has finished reviewing the company's investigation into the potential resale of its products into Iran by some customers of its subsidiaries.

The company had said the possible resales could be a violation of U.S. sanctions on Iran and the company's own compliance policy. OFAC issued a cautionary letter without monetary penalty, the company said this week in a filing with the Securities and Exchange Commission.

H.B. Fuller, which makes adhesives used in electronics, furniture, construction and disposable baby diapers, said its hygiene products were possibly resold into Iran through customers of subsidiaries based in Turkey, starting in 2011, and in India, from 2014.

The company discovered the possible violation during a financial review and conducted an internal investigation, a spokeswoman said previously. H.B. Fuller made a self-disclosure to OFAC in January 2018 and submitted the findings of its investigation to OFAC later that year, according to the filing.

The company said it stopped sales to these customers in fiscal 2018, adding that it doesn't currently conduct any business in Iran.

H.B. Fuller said, despite the warning letter, OFAC indicated that the company could still face future enforcement actions "if additional information warrants renewed attention," according to the filing.

A spokeswoman for the Treasury declined to comment.

"We are pleased with the outcome, which is a reflection of the thoroughness of our investigation and disclosure to OFAC as well as our commitment to compliance and winning the right way," Kimberlee Sinclair, a spokeswoman for H.B. Fuller, said in an email.

Write to Mengqi Sun at mengqi.sun@wsj.com

(END) Dow Jones Newswires

01-29-21 1257ET