Cement makers Holcim, Lafarge plan to merge
GENEVA (AP) — Swiss cement and construction materials maker Holcim and French counterpart Lafarge say they plan to merge, creating a combined company with 32 billion euros ($44 billion) in revenue.
The two companies on Monday billed the proposed deal as a merger of equals. The plan is for Holcim's Wolfgang Reitzle to serve as chairman of the combined LafargeHolcim and Lafarge's Bruno Lafont to become its chief executive, while seven people from each company will be represented on the board.
The deal is expected to close in the first half of next year, subject to regulatory approval.
