Aljazeera TV aired a video on Saturday of the two men crouching in front of a group of masked resistance fighters standing in front of a Tawhid and Jihad group banner.
The company, Kahramanli, was given 48 hours by the group to halt its operations in Iraq.
Resistance groups in Iraq are waging a kidnapping campaign to drive out companies and troops supporting the US occupation.
Two Pakistani nationals were killed earlier this week after their employee, a Kuwaiti company, failed to negotiate their release.
However, Angelo De La Cruz, a Filipino, was released after his government pulled out its troops from Iraq.
Currently, negotiations are on for the release of seven truck drivers – three Indians, three Kenyans and an Egyptian.