Lafarge Charged for Funding Terrorism in Syria - CALIPHATE MEDIA

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Thursday, 28 June 2018

Lafarge Charged for Funding Terrorism in Syria


Caliphatemedia

French Cement maker
LafargeHolcim on Thursday said its French
predecessor company Lafarge SA has been put
under formal investigation into allegations it
funded armed militant groups in Syria to keep a
plant open.

The confirmation came after a judicial source said
the company, formed by a 2015 merger between
France's Lafarge and Switzerland's Holcim, was
being investigated in France for the payments and
abetting crimes against humanity.

The affair relates to the Jalabiya cement plant in
northern Syria which was operated by the
company between 2011 and 2014.
LafargeHolcim said that the step by examining
magistrates in Paris was expected, given that
several former managers - including former
Lafarge Chairman Bruno Lafont and LafargeHolcim
CEO Eric Olsen - had been placed under judicial
investigation.

The company acknowledged failures at the Syrian
business, "which were the result of an
unprecedented violation of internal regulations and
compliance rules by a small group of individuals
who have left the group. Lafarge SA will appeal
against those charges which do not fairly
represent the responsibilities of Lafarge SA."
The scandal has already cost the job of Olsen, the
former Lafarge executive who became the first
CEO of the combined company. He has denied
wrongdoing in the affair.

LafargeHolcim Chairman Beat Hess said: "We truly
regret what has happened in the Syria subsidiary
and after learning about it took immediate and firm
actions.
"None of the individuals put under investigation is
today with the company," he said in a statement.
LafargeHolcim has handed its own report over to
the French authorities, along with 260,000
documents related to the case.
Hess said the company had strengthened its
compliance regulations to prevent similar cases in
future.

A company spokesman said there was no
indication how long the investigation would last,
but the company expected no material financial
impact from the proceedings.

Source:reuters

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