LafargeHolcim chairman says 'unacceptable errors' made in Syria

PARIS (Reuters) - The chairman of Swiss-French cement maker LafargeHolcim said the company had made unacceptable errors in Syria and that it was cooperating with French investigators, according to an interview published in the French newspaper Le Figaro on Sunday.
 
In April, LafargeHolcim's chief executive, Eric Olsen, left after the company admitted it had paid armed groups to keep a factory operating in war-ravaged Syria.
 
French prosecutors have placed three people under formal investigation as part of a judicial inquiry into Lafarge's operations and its possible "financing of a terrorist enterprise". At issue are allegations about payments that were made to banned groups.
 
An independent internal inquiry found protection payments made to intermediaries to keep open the Jalabiya plant in northern Syria were not in line with its policies.
 
"Unacceptable errors were made that the group regrets and condemns. It's of course easy to say that with hindsight, but the group certainly pulled out from Syria too late. That could all have been avoided," Chairman Beat Hess told the newspaper.
 
Asked whether Bruno Lafont, who was the CEO of what was then Lafarge before its merger with Holcim, knew about the payments, Hess said: "I wasn't in the company then, but I have no reason to have doubts about Bruno Lafont, in view of our internal investigation."
 
Hess also said there was no reason to change the name of the company after the revelations. "Simply changing the name would not solve anything," he said.
Shoot

Trending News

Myntra in advanced talks to buy 5% stake in Wildcraft now

Huawei to refocus on India to boost global show

Axis Bank CIO Amit Sethi asked to resign after whistleblower complaint

TCS looks inside for next big technology solutions

Bessemer Venture Partners plans to invest $40-50M in India in 2018

Oyo to focus on weekend business and cut losses

Digital wallets staring at a major crisis with India's strict KYC rules

Udaan lands $50M in Series-B funding from LightSpeed & Yuri Milner's Apoletto

Indian startups need not fear MNCs: Yossi Vardi

Ronnie Screwvala plans to set up e-sports federation

Amid fund crunch, ShopClues raises $1M bridge round from Unilazer Ventures

Walmart's Flipkart investment negotiations include a plan to open retail stores

Google's firing of anti-diversity memo author was legal: US Labour board

Infibeam tweaks business to keep up with 4G wave

Samsung India sets sales goal of over $10 billion this year

Facebook face big challenge to prevent future US election meddling

Intel hit with 32 lawsuits over security flaws

Apple promises fix for serious Telugu character bug

GrabOnRent launches operations in Mumbai and Gurgaon

Crypto fall fails to drown initial coin offerings

Kalpnik uses AR & VR to help people 'go' to any place of worship

SpaceX is launching its broadband satellites into orbit this weekend

Unilever threatens to cut back online ads over 'toxic' content

Google hires former Samsung Mobile CTO to coordinate Internet of Things projects

Go-Jek plans India foray in second half of 2018

Pivoting away from Cube brought us to the right route: PayU's Jitendra Gupta

Ola parent to invest Rs 400 crore to boost Foodpanda India logistics & tech

Alibaba plans tighter integration of Paytm Mall with BigBasket & XpressBees

MakeMyTrip posts wider loss in Q3, may revisit OYO strategy

Google fined Rs 135.86 crore by CCI for 'search bias'

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Toyota, Suzuki to produce electric vehicles for India market by 2020

Qualcomm rejects Broadcom's $103 billion offer

Fashion e-tailer Voonik asks staff to forgo 3 months' salary

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities