Holcim confirms merger talks with Lafarge

GENEVA, SWITZERLAND: Switzerland's Holcim confirmed that it is in merger talks with its French rival Lafarge in a deal that would create the world's largest cement company.
One of Holcim's many cement plants around the world. The company has confirmed it is in merger talks with Lafarge. Image: CemNet
"Holcim and Lafarge believe that there is rationale in considering a potential merger that could deliver significant benefits to customers, employees and shareholders," the two companies said in separate but near-identical statements.

The Swiss company said that talks were at an advanced stage. "The discussions are based on principles consistent with a merger of equals, which build on the strengths and identities of the two companies," it said.

It underlined that no agreement had yet been reached, nor was it possible to say if the talks would lead to a definitive merger deal.

On its website, Lafarge describes itself as the global number one for cement, number two for aggregates and number four for concrete. Industry observers note that the berths in the rankings vary according to methodology.

According to a 2013 ranking by specialised trade magazine Global Cement, which assesses overall output capacity based on a broad range of factors, China's Anhui Conch had an annual output capacity of 217m tons, followed by Lafarge with 205m tons and Holcim with 174m tons.

The combination of Lafarge and Holcim would create an company with the greatest output of cement, concrete and aggregates.

Founded in Switzerland in 1912, Holcim employs 71,000 people, with production sites in 70 countries and a market presence on every continent.

In notched up net sales of 19.7bn Swiss francs in 2013.

Lafarge began as a French limestone-quarrying company in 1833, and now employs 65,000 people in 64 countries, with sales of €15.8bn.

Source: AFP via I-Net Bridge


SOURCE

I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
Don't miss BizTrends2021 - 8 keynote speakers forecast trends shaping business in our region! Register now!
Comment

Related

News

Let's do Biz