In 2014, CalSTRS designated Holcim Ltd. as “Under Review” for potentially having ties to Iran. In 2015, Holcim Ltd. merged with Lafarge SA to create LafargeHolcim Ltd. CalSTRS reinitiated the review process on the merged company to evaluate its internal controls and compliance procedures. In 2017, CalSTRS maintained LafargeHolcim Ltd. in the “Being Monitored”
designation. In 2018, CalSTRS removed LafargeHolcim Ltd. after reviewing the company’s business with Iran and internal controls to prevent sanction violations.
Lafarge lists a "North America" website.
“A high-profile delegation from Western companies, including cement maker Lafarge SA and bank Natixis SA, came in February on a trip organized by a French business association. Executives raced through a packed meeting schedule that included half of Iran’s cabinet, the country’s customs agency and Tehran Mayor Mohammad Bagher Qalibaf. Lafarge and Natixis confirm that the trip occurred and say they have no current presence in Iran.” (Wall Street Journal, “As Iran Sanctions Ease, Western Firms Seek a Way In,” 3/27/14)
"A visit to Iran by a large French business delegation drew a stern warning from Washington that most US sanctions remain in place and will be enforced even against allies. The 116-strong French delegation, with representatives from major companies like Total, Lafarge and Peugeot, was the largest of its kind from Europe since a landmark nuclear deal reached with the major powers in November gave Iran limited relief from crippling US and EU sanctions. French employers' union vice president Thierry Courtaigne said the delegation, which arrived in Tehran Monday, wanted to assess the commercial opportunities opened up by the easing of Western sanctions…The French were given a warm welcome by Iranian leaders, who promised new measures to encourage foreign investment, particularly in its oil and gas sector. In a speech to them, Deputy Oil Minister Ali Majedi said Iran's latest five-year plan, running from 2010-2015, calls for $230 billion of investment in its petroleum industry, of which $150 billion would go to upstream activities, according to the official IRNA news agency. He said nearly all downstream projects, for refineries and distribution, would be offered on a build-operate-transfer (BOT) or build-own-operate-transfer (BOOT) basis.” (AFP, “French business push in Iran draws US sanctions warning,” 2/4/14)