Head of LafargeHolcim steps down over company's alleged business with Islamic State

Head of LafargeHolcim steps down over company's alleged business with Islamic State
  • Clock-gray 09:42
  • calendar-gray 25 April 2017

“While I was absolutely not involved in, nor even aware of, any wrongdoing I believe my departure will contribute to bringing back serenity to a company that has been exposed for months on this case,” Olsen said on Monday.

 

In June 2016, Le Monde claimed in an investigation that Lafarge, which later merged with Holcim, paid taxes to Islamic State (IS, formerly ISIS/ISIL) in 2013-2014 to continue operations in northern Syria.

 

In March, Lafarge admitted it provided funds to “certain armed groups” and “sanctioned parties” in Syria. The company said such activities were “unacceptable.”

 

The firm avoided naming the armed groups, admitting that “the local company provided funds to third parties to work out arrangements with a number of these armed groups, including sanctioned parties, in order to maintain operations and ensure safe passage of employees and supplies to and from the plant.”

 

Holcim (Azerbaijan) (former Garadagh Cement) is a subsidiary of LafargeHolcim.

 

Shareholders: Azerbaijan Investment Company (10%), Holcim LTD (69.4%), EBRD (10%) adn local investors (10.6%). 

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