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Concept
Holcim Group
Summary
The Holcim Group, legally known as Holcim Limited, (formerly known as LafargeHolcim) is a Swiss multinational company that manufactures building materials. It has a presence in around 70 countries, and employs around 72,000 employees. Holcim operates four businesses segments: cement, aggregates, ready-mix concrete, and other products, including precast concrete, asphalt, mortar, and other building materials.
Originally, the company was established as LafargeHolcim by the merger on 10 July 2015 of Holcim and Lafarge, which had combined sales of CHF 26.7 billion in 2019. In the 2020 Forbes Global 2000, it was ranked as the 280th largest public company in the world.
On 7 April 2014, Lafarge and Holcim announced a merger project to create LafargeHolcim. With a combined market value exceeding $50 billion, the merger was the second largest announced worldwide in 2014. On 10 July 2015, the two companies completed the merger and created LafargeHolcim. On 15 July 2015, the new LafargeHolcim Group was officially launched.
In June 2016, Le Monde reported that Lafarge paid taxes to ISIS middlemen in 2013 to 2014 to keep using their factory in Jalabiya, Northeastern Syria. On 2 March 2017, the Board of Directors of LafargeHolcim issued a statement indicating that the measures required to continue operations at the plant were unacceptable.
A comprehensive and independent investigation revealed significant errors in judgment that were inconsistent with the company's code of conduct and the company took action. There have been significant changes and developments made to the compliance program and infrastructure since the time of the alleged misconduct.
The former CEO, Eric Olsen, resigned in April 2017 because of the "strong tensions" incurred by the news. However, an investigation conducted by Baker McKenzie concluded Olsen was not responsible for the payments.
In an interview with the French newspapers LeFigaro, Beat Hess, chairman of the board said: "Unacceptable errors were made that the Group regrets and condemns.
Official source
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