The Holcim Board of Directors has decided to initiate the process to exit the Russian market in line with the company’s values to operate in the most responsible manner. This decision to divest the Russian business follows Holcim’s previous announcement to suspend all capital investments in the market.
The Board expresses its heartfelt concern about the tragic human suffering unfolding across the region and is fully committed to supporting affected people, families and communities.
The Board thanks all Holcim colleagues who are mobilizing around the world alongside local NGOs to provide shelter, essential goods and medical supplies, as well as volunteering their time.
This marks a significant move as Holcim Russia was a part of major projects were still underway:
- June 2020 - Two dry motor adhesive products for autoclaved aerated concrete blocks. At the time, AAC blocks represented 43% (and growing) of Russia's block materials market. In the announcement, the commercial director for Holcim Russia expected the dry mortar segment to increase +5% by 2023.
- August 2020 - A massive project to expand the Moscow metro transportation was underway expecting 75 new metro stations (a total length of 145 km) would be built by 2027. LarfargeHolcim Russia delivered 180,000 tonnes of CEM I 42.5 in 2019 with plans to deliver 100,000 tonnes by the end of 2020.
