Select Page

Economic Times. LafargeHolcim said it will continue to operate in India through its subsidiaries ACC Ltd. and Ambuja Cements Ltd. with a combined cement capacity of more than 60 million tonnes and a distribution network that extends across the entire country. “This agreement is an important step in our CHF 3.5 billion divestment program,” said LafargeHolcim CEO Eric Olsen. “With this deal, two thirds of the program has been secured and the remainder of the program is well on track. We are confident that we will meet our target by the end of this year.” In March, LafargeHolcim agreed to divest its South Korean business Lafarge Halla Cement Corp. to South Korea’s private equity fund Glenwood Private Equity, and Hong Kong-based private equity fund Baring Private Equity Asia, for 630 billion won ($542 million) . LafargeHolcim has a divestment target of CHF 3.5 billion in 2016 and has agreed to divest its minority shareholding in Saudi Arabia. The company has also expanded its joint-venture with SNI, its historical partner in Morocco, by merging Lafarge Ciments Maroc and Holcim Maroc to create LafargeHolcim Maroc. LafargeHolcim is the largest worldwide manufacturer of building materials, primarily cement, aggregates and concrete, with a presence in 90 countries and 115,000 employees. It was formed by the merger on July 2015 of giant cement companies Holcim and Lafarge which had combined net sales of CHF 33 billion (EUR 27 billion) in 2014. The combined group now has a manufacturing capacity of 368.5 million tons a year, and reported combined net sales of 29.5 billion Swiss francs ($29.87 billion) in 2015. LafargeHolcim is the industry benchmark in R&D and serves from the individual homebuilder to the largest and most complex projects. The group is based in Switzerland but its central functions remain divided between Zurich and Paris.]]>