Accused of financing terrorism, Lafarge merges with its rival in Switzerland and changes its name. Although the company operates under the name “Holcim Ltd” in Switzerland, it is indicated that it could be the subject of criminal proceedings in France following the decision of the French Court of Cassation.
The world’s largest cement giant, France’s Lafarge, merged with its Swiss rival after being accused of funding DAESH, and was renamed “LafargeHolcim” in 2015. In 2021, “Lafarge” was deleted from the company’s name. company and the name was registered as “Holcim Ltd”.
Yesterday’s French Supreme Court ruling, which paved the way for Lafarge to be charged with “partnership in crimes against humanity” for funding DAESH terrorists, turned its gaze to the Swiss partner of the company.
The Supreme Court also upheld Lafarge’s “terrorist financing charge”.
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It should be noted that Lafarge was accused of financing DAESH and decided to merge with its Swiss rival, Holcim, in July 2015, a few months after the closure of its plant in Syria in 2014.
After the formal merger, the Swiss company was renamed LafargeHolcim Ltd. However, shortly before the French Court of Cassation’s decision was announced, the company changed its name.
The company from which the word “Lafarge” was deleted became “Holcim Ltd”.
At the company’s annual general meeting held on May 4, 2021, shareholders voted to change the group’s name to Holcim Ltd, and the new company name was registered in the Swiss Commercial Register.
In the statement made by the company, it was claimed that the name change was made due to factors such as “efficiency and impact”.
RISK OF CRIMINAL PROCEEDINGS IN FRANCE DESPITE THE CHANGE OF NAME
According to information from the Bloomberg-based Swissinfo site, after the “Lafarge decision” of the court in France, Holcim Ltd, the company’s partner in Switzerland, is facing criminal proceedings in France.
In the news, it was pointed out that Holcim Ltd shares lost more than 4.2% yesterday, which was the biggest drop since January 29.
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Today, the company’s shares are trading, losing 2% in value.
While the company’s sales were reported at 23 billion 142 million Swiss francs ($ 25.5 billion) last year, it has around 70,000 employees in more than 60 countries.
AA REACHED DOCUMENTS PROOF THAT LAFARGE FUNDED DAESH WITH THE KNOWLEDGE OF FRENCH INTELLIGENCE
The information contained in documents belonging to French institutions obtained by the Anadolu Agency (AA) revealed that the world’s largest cement giant, the French company Lafarge, was constantly informing the French, national, foreign and military intelligence services of its relationship with DAESH, and that this relationship took place with the knowledge of the French State.
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In documents included in the information published by AA yesterday, French intelligence services and state institutions did not warn Lafarge that he had committed crimes against humanity by funding terrorism, and he admitted so in a secret report.
DAESH used the cement purchased from Lafarge for the construction of shelters and tunnels.