Holcim supports resolution with U.S. regarding legacy operations in Syria

Holcim (HOLN.S) said it supported the agreement made by Lafarge SA with the United States Department of Justice on Tuesday regarding the company’s funding of Islamic State to allow it to keep a cement plant running in Syria.

A financial penalty of $778 million and a plea agreement has been arranged to resolve the DoJ inquiry into Lafarge, which is now part of Holcim following the companies’ 2015 merger.

“None of the conduct involved Holcim, which has never operated in Syria, or any Lafarge operations or employees in the United States, and it is in stark contrast with everything that Holcim stands for,” Holcim said in a statement.