In 2015, CalSTRS designated Sulzer AG as “Under Review” for potentially having ties to Iran. In 2016, CalSTRS designated Sulzer AG as “Being Monitored” while conducting further review of the company’s internal controls and compliance programs and maintained that designation in 2017. In 2018, CalSTRS removed Sulzer AG from the “Being Monitored“list after reviewing internal controls and receiving confirmation the company ceased doing business in Iran. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the activities targeted by the Act. CalPERS will continue to assess and/or monitor the company for possible changes in status relevant to the Act.
Sulzer's Middle East contact is listed as an attendee at the Focus Iran Summit & Exhibition that took place from September 26-27, 2016, in Tehran, Iran. (Participating Companies)
"The Swiss newspaper Sonntag reported that engineering group Sulzer (SUN.S) had since 2009 conducted much less business there than in previous years, citing a company spokeswoman. Sulzer was not immediately available for comment." (Reuters, "ABB, other Swiss firms halting Iran business," 1/31/10)