In an interview with French publication Le Figaro, Bruno Lafont and Wolfgang Reitzle, respectively the future managing director and president of the entity formed by the merger between French construction materials group Lafarge and Swiss cement group Holcim, have said that the project is on track to be completed during the first half of 2015. Lafont added that the group is still awaiting approval from competition authorities in other countries, including India, the US and Canada. In the Le Figaro intervi
In an interview with French publication Le Figaro, Bruno Lafont and Wolfgang Reitzle, respectively the future managing director and president of the entity formed by the merger between French construction materials group Lafarge and Swiss cement group Holcim, have said that the project is on track to be completed during the first half of 2015.
Lafont added that the group is still awaiting approval from competition authorities in other countries, including India, the US and Canada.
In the Le Figaro interview, questioned on whether Lafarge will be absorbed by Holcim, rather than merged with as an equal due to the fact that the head office will be located in Switzerland, Reitzle said that within the executive board, five members will come from Lafarge and the other five from Holcim.
Reitzle added that the new group’s central functions will be split between Switzerland and France.
A working group is currently studying possibilities for the employees currently located at Lafarge’s head office in Paris, said the Le Figaro report.
Lafont went on to say that synergies of €1.4 billion (US$1.65 billion) should be created via the merger, with Reitzle adding that in terms of purchases, the group is considering how to reduce the number of suppliers, while still offering the latter high volumes in order to obtain a better price.
Discussing the possible of job losses at Holcim’s sites which are set to be sold in France, Reitzle said that these assets work well and he does not see a reason for buyers to close one or several sites.
Morocco: Holcim/Lafarge merger takes shape
The global merger between Holcim and Lafarge is said to be taking shape at the Moroccan level between the groups’ subsidiaries, with Holcim adopting two new measures ahead of the finalisation of the deal.
At the company’s annual meeting it agreed to move from a dual governance system to a simple governance structure with a management board with Dominique Drouet (former president of the board) becoming CEO.
The company additionally agreed to move its headquarters from Rabat to Casablanca, in order to be closer to Lafarge.
