By Etaarifa Contributor
Cement manufacturers Holcim Ltd and Lafarge South Africa, have completed their global merger and launched the new Group – LafargeHolcim around the world.
Lafarge S.A. is the majority shareholder in listed Kenyan cement maker Bamburi Cement Limited.
Welcoming the merger, Bamburi Cement CEO Bruno Pescheux, said that the firm was focused on its strategy of growing its presence in the local and regional market. “We are delighted that the merger between Lafarge and Holcim has been completed. We will leverage the strength that comes with being part of the world’s leading building materials manufacturer, and will continue to work towards creating the highest performing company in the building materials industry’” said Mr. Pescheux.
As reported by Market Watch, the merger deal “had been thrown into doubt earlier this year following a disagreement over the exchange ratio and the leadership of the combined company. The combined company will now be led by Mr. Olsen, a former Lafarge executive.”
The merger now creates a company with combined sales in excess of Ksh. 3.5 trillion with operations in 90 countries.
LafargeHolcim will present the financial results of Lafarge and Holcim as standalone companies for the first half of this year on July 29, 2015. The first combined interim results of the new Group will be presented for the 9 months results of 2015.