BUSINESS

Holcim, Lafarge notify European Commission about their intention to merge

Construction material producers Holcim (present in Romania) and Lafarge have announced on Tuesday that they have officially notified the European Commission about their intention to merge, a necessary step to obtaining the necessary approvals to set up the world’s largest cement producer, sources report.
Holcim and Lafarge have also informed that they are under discussions with potential buyers of the assets that they intend to sell and that they intend to complete their merger in the first half of next year.
The two companies say that they had preliminary ‘constructive’ talks with the European Commission and, consequently, have decided to slightly adjust their assets-selling plan in the sense that they will keep the Lafarge plant in Austria, but will sell all Holcim operations in Slovakia.
‘Both companies will continue to analyse whether new sales are needed in areas where their activities overlap or to meet the requirements of regulatory bodies,’ reads a joint press release of Holcim and Lafarge.
Among the assets that the two companies intend to sell is the French subsidiary of Holcim and the German one of Lafarge, as well as a number of factories in Austria, Hungary, Romania, Serbia, UK, Canada, the Philippines and Brazil. In total, it is about assets with a turnover of 3.5 billion euros and a total of 10,000 employees.
Announced in April this year, the project on the Holcim – Lafarge merger will create the world’s largest cement producer, with a turnover of 34 billion euros. However, for this merger to take place, the European Commission’s approval is required, as well as the go-ahead from the competition authorities in approximately 15 countries.

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