Holcim Ltd and Lafarge S.A. today completed their global merger and have launched LafargeHolcim, a world leader in the building materials industry.
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.
Holcim’s shareholders had previously approved the merger-related resolutions at an Extraordinary General Meeting on May 8, 2015. With the completion of the merger the mandate of the new Board of Directors and of the new Executive Committee with Eric Olsen as CEO has become effective.
LafargeHolcim also unveils its new logo and corporate identity today. It has been designed to demonstrate that Holcim and Lafarge have united to form one company, expressing the leadership and strength of the new Group.
Wolfgang Reitzle, Co-Chairman (statutory Chairman) of the Board of Directors of LafargeHolcim, says: "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, Co-Chairman of the Board of Directors of LafargeHolcim, adds: "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.
As announced, LafargeHolcim will re-open the public exchange offer to give the remaining Lafarge shareholders the opportunity to also tender their shares. The new offer period will start on July 15, 2015 for a duration of ten trading days until July 28th.
In April 2014 both companies had announced their intention to merge. The Group received all relevant anti-trust approvals within the expected timeframe following a proactive dialogue with the respective authorities. In this context, operations in Europe, the US, Canada, Brazil, India, the Philippines, and Mauritius are being divested. Completion of these transactions is expected within the coming months.
The global launch of the new company will be celebrated on July 15, 2015. LafargeHolcim will invite to a media conference on that day.
With a well-balanced presence in 90 countries and a focus on Cement, Aggregates and Concrete, LafargeHolcim is the world leader in the building materials industry. The Group has 115,000 employees around the world and combined net sales of CHF 33 billion (EUR 27 billion) in 2014. LafargeHolcim is the industry benchmark in R&D and serves from the individual homebuilder to the largest and most complex project with the widest range of value-adding products, innovative services and comprehensive building solutions. With a commitment to drive sustainable solutions for better building and infrastructure and to contribute to a higher quality of life, the Group is best positioned to meet the challenges of increasing urbanization.
This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Lafarge or an offer to sell or exchange or the solicitation of an offer to buy or exchange any securities of Holcim. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Lafarge or Holcim. Forward-Looking Statements This communication contains forward-looking information and statements about Holcim, Lafarge and their combined businesses after completion of the proposed transaction that have not been audited or independently verified. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations. Although the managements of Holcim and Lafarge believe that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Holcim and Lafarge shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Holcim and Lafarge, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. The combined group may not realize the full benefits of the transaction.