Statement following the merger

The Trustee notes that the merger between Lafarge and Holcim to become LafargeHolcim became effective 15 July 2015.

As you may recall undertakings had been given at the end of last year by senior management of both Lafarge and Holcim to have discussions with the Trustee Board following the merger with a view to agreeing long-term support for the Plan under the new ownership structure. The Trustee Board had also agreed an interim arrangement with both companies which provides continued security of benefits for members until a permanent arrangement is put in place.  

After the merger there will be two key agreements to be reached between your Trustee Board and LafargeHolcim.  Firstly, the Trustee Board will be seeking agreement from LafargeHolcim to provide support for the Plan which is at least as good as that provided by the Lafarge Group following the agreement reached in 2012.

We are aiming for the new arrangements to be completed and implemented well within twelve months following completion of the merger.

Secondly, we will be commencing the 2015 valuation of the Plan which will involve further in-depth discussions with the company about the new Triennial valuation and the effect of this on the recovery plan. These discussions will run in parallel with the above.

The Trustee Board will continue to update you on progress via this website, so please continue to check the site: www.lafargeukpensions.com

Updated 15 July 2015