LafargeHolcim officially started, integration to be done in 1,000 days
LafargeHolcim started trading on the SIX Swiss Exchange in Zurich with the ticker symbol LHN and on Euronext in Paris, joining the Swiss Market Index (SMI) and the CAC 40 index (replacing Lafarge S.A.) respectively.
The combined entity has a total market capitalization of around CHF 41 billion per July 13, 2015.
Following the successful completion of the merger between Lafarge and Holcim and the listing of the new LafargeHolcim shares in Zurich and Paris, the new Group will now work towards creating the highest performing company in the building materials industry.
LafargeHolcim CEO Eric Olsen says: “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.”
The company is initiating a strategic transformation by building on the best of both Lafarge and Holcim. The Group will now focus on five areas in the first integration phase.
Synergies: delivering on EUR 1.4 billion synergy target within three years
Capital allocation: rigorous approach to capital allocation and overall reduction of capital spending
Commercial transformation: creating differentiation through innovative products and solutions
Integration: creating one new group and culture
Health and Safety: putting Health and Safety at the center of the organization.
LafargeHolcim plans to complete the integration of Lafarge and Holcim by the end of next year following their merger and confirmed plans to save $1.5 billion within three years.
"By the end of 2016 we will have completed the integration," LafargeHolcim Chief Executive Eric Olsen told a news conference in Zurich.
"Within 1,000 days we will realize the full synergy potential." ■