LafargeHolcim to withdraw from several countries

Reuters is reporting that LafargeHolcim is considering withdrawing from several markets as part of its efforts to make last year's mega-merger a success.

The company generates 80% of its operational earnings before taxes, depreciation and amortisation in 25 countries.

For the remaining 40 countries the Switzerland-based firm operates in, the question was how to reach the target to earn its capital costs in the foreseeable future.

The company has already exceeded its 2016 goal of making divestments worth 3.5 billion francs and said in August it had extended the program to 5 billion francs by the end of next year.

In addition to the 250 jobs which are shed as part of a reorganisation of global functions the group will cut more jobs in its country organisations and it could close more plants.

Edited from source by Joseph Green. Source: Reuters

Read the article online at: https://www.worldcement.com/africa-middle-east/19092016/lafargeholcim-withdraw-several-countries-288/