Kobe Steel

On February 14, 2020, the IPERS removed Kobe Steel from its Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS%27 Iran Prohibited Companies 1Q20.pdf)

As of August 15, 2019, the state of Iowa listed Kobe Steel on its Iran scrutinized companies list. (https://www.ipers.org/sites/default/files/media/2017%2009%20Iran%20Prohibited%20Companies%20List%2009-30-17.pdf)

Kobelco cranes and construction equipment are sold through an exclusive Iranian distributor, Persia Sanat Machine Co., which makes the full line of Kobelco construction equipment available for purchase in Iran.        (http://www.persianmachinery.com/index-en.html)

In 2017 the U.S. state of Michigan listed Kobe Steel as an Iran restricted company rendering Kobe Steel ineligible for investment and/or state contracting.  (http://www.michigan.gov/documents/treasury/Divested_Securities_380236_7.pdf)

Kobelco is the imprint of the Kobe Steel Group, a Japanese metals company that also manufactures construction equipment. As of 2007, they were the 8th largest crane manufacturer in the world. Kobelco has a strong US presence through subsidiary Kobelco North America. (http://www.kobelco-cranes.com/)