Lafarge merger has 2016 end date

The newly created European cement giant, LafargeHolcim formally launched yesterday, with the immediately stated aims of full merger integration by the end of next year, and cost savings of €1.4bn being achieved by the end of 2018.

“As expected, the group will now focus on five areas in the first integration phase: Synergies: delivering on €1.4bn (CHF 1.7bn) 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 centre of the organisation,” noted Davy Stockbrokers.

“By the end of 2016 we will have completed the integration,” LafargeHolcim chief executive Eric Olsen told a news conference in Zurich yesterday, upon the new entity listing on Zurich’s SIX exchange and the Euronext in Paris.