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LafargeHolcim to put rebranding to a vote

 

LafargeHolcim, the world’s largest producer of cement, has proposed to change its name, if only slightly.

In order to simplify for efficiency and impact, the board has recommended omitting Lafarge from the company name and becoming Holcim around the world.

The original French company LaFarge was formed in 1833 and the original Swiss Holcim began operation in 1912. With a combined market value then exceeding $USD50 billion, the two companies announced a merger in April 2014 and the LaFargeHolcim Group was officially launched in July 2015.

The building solutions organisation will now allow shareholders to vote on the rebranding decision at its annual general meeting on 4 May, 2021.

In the meeting agenda release, the company stressed the only change on the table in regard to branding was the group company name.

“All market brands will remain in existence, as the drivers of the company’s market success, building value and trust for its customers and partners around the world,” the release stated.

“As the company transforms to become the global leader in innovative and sustainable building solutions, the Board of Directors recommends simplifying its name for efficiency and impact, while building on the Group’s legacy.”

The company already goes by the name Holcim in Australia, but in supplying more than 70 markets around the world, many global customers will notice a change of branding to the flagship name.

Other notable items on the AGM agenda were the ceasing of vice-chairman Oscar Fanjul’s tenure, and the appointment of chief executive officer Jan Jenisch to the Board of Directors.

Also announced was an expectation for the company to release its first climate transition report in 2022. This came in line with LafargeHolcim’s goal to become a zero-net emissions organisation.