The merger of building materials firms Lafarge and Holcim has been completed and officially launched as LafargeHolcim.
Eric Olsen, formerly of Lafarge will lead the new company as CEO, while Holcim’s Wolfgang Reitzle and Lafarge’s Bruno Lafont are named as co-chairmen.
All conditions for the completion of the merger have been fulfilled following the successful completion of the public exchange offer and the issuance of new Holcim shares to Lafarge shareholders.
Wolfgang Reitzle said: “Today’s closing is a historic event – not only for our two founding companies but also for the industry as a whole. LafargeHolcim has a unique business portfolio, is the industry benchmark in R&D and offers its customers the widest range of innovative and value-adding products, services and solutions – from smallholders to large enterprises and most complex projects.”
Bruno Lafont, added: “This new company is built on the rich history and culture of Lafarge and Holcim and its teams. The merger has not only resulted in a larger and more global company but brings about a unique set of complementary capabilities to capitalize on. Under the leadership of Eric Olsen, the new Group will foster a new operating model and create more value for all our stakeholders.”
The new LafargeHolcim shares will be traded on the SIX Swiss Exchange as well as the Euronext in Paris as of July 14.
In April 2014 both companies had announced their intention to merge.
LafargeHolcim CEO Eric Olsen said: “Now as LafargeHolcim, we will step into the next phase of our transformation to become the leader in every respect – a company that has a positive impact on the world and can make a real difference for its customers, its employees, its shareholders and society.”