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56-411: Originally, the company was established as LafargeHolcim by the merger on 10 July 2015 of Holcim and Lafarge , which had combined sales of CHF 26.7 billion in 2019. In the 2020 Forbes Global 2000 , it was ranked as the 280th largest public company in the world. On 7 April 2014, Lafarge and Holcim announced a merger project to create LafargeHolcim. With a combined market value exceeding $ 50 billion,

112-630: A "merger of equals" valued at nearly $ 60 billion. The merger entails 10 Lafarge shares being converted into 9 Holcim shares. Holders of 86% of Lafarge shares accepted this offer in June 2015, according to Holcim, meaning that the merger would proceed. The new company would be based in Switzerland and have a manufacturing capacity of 427 million tons a year, which would vastly exceed the 227 million ton capacity of current industry leader Anhui Conch . Lafarge Chief Executive Officer Bruno Lafont will lead

168-624: A Portuguese venture until early this year, when Corus sold its stake to CSN. CSN primarily operates as an integrated steel producer in Brazil. It produces a line of steel products, including slabs, which are semi-finished products used for processing hot-rolled, cold-rolled, or coated coils and sheet products; hot-rolled products comprising heavy-gauge hot-rolled coils and sheets, and light-gauge hot-rolled coils and sheets; cold-rolled products, including cold-rolled coils and sheets; and galvanized products consisting of flat-rolled steel coated with zinc or

224-408: A broad line of steel products, including slabs, hot- and cold-rolled, galvanized and tin mill products. Its products are used by the distribution, packaging, automotive , home appliance and construction industries. CSN accounted for approximately 49% of the galvanized steel products sold in Brazil. In 2004, it accounted for approximately 98% of the tin mill products sold in Brazil. It is one of

280-552: A broad range of laws, regulations and permit requirements in Brazil relating to the protection of human health and the environment. Large amounts of water are required in the production of steel. CSN's principal source of water is the Paraíba do Sul river, which runs through the city of Volta Redonda. Much of the water is recirculated, and some, after processing, is returned to the Paraíba do Sul river. A law passed in 1997 permits

336-706: A facility that would provide steel for the Allies during the Second World War and later be an aid for Brazil's development. It began its operations in 1946, under Eurico Gaspar Dutra 's presidency. CSN was a Brazilian corporation incorporated in 1941 pursuant to a decree of Brazilian President Getúlio Vargas. The Presidente Vargas Steelworks, located at Volta Redonda, in Rio de Janeiro State, started production in 1946. It initially produced coke, pig iron castings and long products. Two major expansions were undertaken at

392-420: A high of R$ 3.9552 per US$ 1.00. On June 6, 2005, the rate was R$ 2.4576 per US$ 1.00. The real depreciated against the U.S. dollar approximately 2.3% in 2002, due in part to the continued economic and political uncertainties in Brazil and other emerging markets and the global economic slowdown. In 2003 and 2004, the real appreciated 18.2% and 8.1%, respectively, against the U.S. dollar. In the first quarter of 2005

448-539: A stakes in The Associated Cement Companies (ACC) and Ambuja Cement Eastern. In 2008, Holcim became the largest shareholder of China's Huaxin Cement with a 40% stake. In 2009, they acquired Cemex Australia. In February 2012, Bernard Fontana became the first CEO of Holcim that was not part of the founding families. On 7 April 2014, Holcim and Lafarge announced they had agreed to terms on

504-400: A statement indicating that the measures required to continue operations at the plant were unacceptable. A comprehensive and independent investigation revealed significant errors in judgment that were inconsistent with the company's code of conduct and the company took action. There have been significant changes and developments made to the compliance program and infrastructure since the time of

560-628: A strategy to focus on core markets. In January 2024, Holcim announced plans to spin off 100% of its North American operations. It also announced Miljan Gutovic, the current head of Europe at Holcim, would replace Jan Jenisch as CEO beginning May 1, 2024. Holcim Group operates in around seventy countries, and focuses on cement , aggregates , ready mix and solutions & products. It is a global partner for major infrastructure projects – roads , mines , ports , dams , data centers , stadiums, wind farms , or electric power plants that require major investments. The group employs around 70,000 people around

616-580: A trend in this industry. This, together with the hot-dip galvanizing process know-how of CSN, allows them to dominate the automotive segment. • CSN Paraná, another subsidiary of CSN, provides additional capacity to produce high-quality galvanized, galvalume and pre-painted steel products for the construction and home appliance industries. Being a Brazilian company, principal competitive advantages of CSN are its abundant supply of low-cost, high-grade iron ore, low-cost labor and energy resources, and good quality of its infrastructure (railways and ports, mainly). It

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672-463: A well-developed logistics infrastructure, from the iron ore mine to its steel mill and its own ports. • It is self-sufficient in energy, through the hydroelectric plants of Itá and Igarapava, and its own thermoelectric plant inside the Volta Redonda mill. • GalvaSud, a 100% subsidiary of CSN, provides material for exposed auto parts, using hot-dip galvanized steel and laser-welded blanks,

728-504: A zinc-based alloy. The company also offers tin mill products, including tin plate, tin free steel, low tin coated steel, and black plate products. CSN also mines iron ore, limestone, and dolomite, and maintains strategic investments in railroads and power supply companies. The company sells its steel products to customers in Brazil and 71 other countries in North America, Europe, and Asia through its sales force and distributors. It

784-534: Is a Swiss-based global building materials and aggregates flagship division of the Holcim Group . The original company was merged on 10 July 2015 with Lafarge to form LafargeHolcim as the new company and renamed to Holcim Group in 2021. The Holcim brand remained active within the group when the merger was completed. Founded in 1912, the company expanded into France and Europe and the Middle East during

840-579: Is considered one of the most productive steel-makers in the world, producing more than 6 million tons of raw steel and more than 5 million tons of laminates per year. CSN owns different firms, such as GalvaSud (in Porto Real , Rio de Janeiro ), Inal (in Mogi das Cruzes , São Paulo and Barra Mansa , Rio de Janeiro), CSN PARANÁ (in Araucária , Paraná ) and container (TECON) and coal (TECAR) terminals in

896-555: Is manufacturing and distributing cement and aggregates. As of 2014, Holcim's annual production capacity was 215 million tons. It has a BBB credit rating according to Fitch Ratings , affirmed on March 11 2024. Holcim is the cement market leader in Australia, Azerbaijan, India, Slovakia, Switzerland, and Latin America. It is among the top few producers throughout Europe, North America, and Asia. Globally, Holcim and Lafarge are

952-550: Is the largest fully integrated steel producer in Brazil and one of the largest in Latin America in terms of crude steel production. Its main plant is located in the city of Volta Redonda , in the state of Rio de Janeiro . Its current CEO is Benjamin Steinbruch. Companhia Siderúrgica Nacional's annual crude steel capacity and rolled product capacity are 5.6 million and 5.1 million tons, respectively. It produces

1008-514: The Bocaina mine are based on a concession which gives them the right to mine for as long as ore reserves exist. Fluctuation in the exchange rate of the real can adversely affect CSN earnings. Historically, emerging markets, including Brazil, have experienced devaluation of their currency at various times. In 2002, the Brazilian exchange rate fluctuated from a low of R$ 2.2709 per US$ 1.00 to

1064-938: The Science Based Targets initiative (SBTi) “Business Ambition for 1.5°C” becoming the first global building materials company to sign the pledge with intermediate targets for 2030, validated by SBTi. On May 4, 2021, shareholders voted on changing the company name back to Holcim. The new identity of the company was launched on July 8, 2021. This name change applies only to the group company name with all market brands remaining in existence. In September 2021, Holcim reached an agreement to sell its Brazilian cement business to Companhia Siderúrgica Nacional at an enterprise value of US$ 1.025 billion. In May 2022, Adani Group acquired Holcim's stake in Ambuja Cements and ACC for US$ 10.5 billion. The sale marked Holcim's exit from India after 17 years of operations as part of

1120-682: The continuous casting process, rather than ingot casting, an alternative method that resulted in lower energy use and metal loss. From 1996 through 2002, CSN spent the equivalent of US$ 2.4 billion under the capital improvement program and for operational capacity maintenance, culminating with the revamping in 2001 of Blast Furnace #3 and Hot Strip Mill #2 at the Presidente Vargas Steelworks increasing annual production capacity to 5.6 million tons of crude steel and 5.1 million tons of rolled products, from approximately 5.0 million tons in each case. In 2005 reinforced its position as

1176-473: The 1920s. They expanded in the Americas during the 1950s and went public in 1958. The company continued to expand in Latin America and added Asian divisions during the 1970s and 1980s. A series of mergers and buyouts made Holcim one of the two largest cement manufacturers worldwide by 2014, roughly tied with rival Lafarge. In April 2014, the two companies agreed to a US$ 60 billion "merger of equals". The company

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1232-741: The Brazilian Constitution and the Mining Code and are subject to the laws, rules and regulations promulgated pursuant to the Constitution and the Code. Under the Brazilian Constitution, all mineral resources belong to Brazil. CSN mining activities at the Casa de Pedra mine are based on holding of a Manifesto de Mina, which gives them full ownership over the mineral deposits existing within their property limits. CSN mining activities at

1288-641: The Brazilian Constitution to modify certain aspects of the social security and tax system. Moreover, the Brazilian Federal Congress is currently reviewing additional bills which would introduce further changes to Brazil's tax and social security laws. Such reforms may affect Brazilian economic conditions generally, and may impose a higher tax burden on CSN. If CSN is not able to pass the cost of such potential higher tax and social security burdens to customers, their profit margins may be adversely affected. CSN mining operations are governed by

1344-595: The Brazilian economy and CSN's business. During 2002, the Central Bank raised Brazil's base interest rate by a total of 7.5% to 26.5% as a result of the growing economic crisis in Argentina , one of Brazil's primary trading partners, the lower level of growth of the U.S. economy and the economic uncertainty caused by the Brazilian presidential elections, among other factors. During 2003, the Central Bank decreased Brazil's interest rate from 26.5% to 16.5%, reflecting

1400-417: The Brazilian government sold its 91% interest in the company. In 1993, CSN adopted a capital improvement program, which was revised and extended in 1995. The goals were: an increase in annual production of crude steel; improvement in productivity, increase in the quality of the products, and enhancement of the environmental protection and cleanup programs. Since February 1996, all production has been based on

1456-476: The Brazilian government to charge for water usage from water courses. Brazilian government policies in the energy sector may have an adverse impact on the cost or supply of electricity for CSN aluminum-related and ferroalloy operations. Tax and Social Security Reforms May Affect the Brazilian Economy, and May Impose a Higher Tax Burden on CSN. The Brazilian Federal Congress has recently amended

1512-514: The Group certainly pulled out of Syria too late. All of this should have been avoided". Meanwhile, Sherpa filed a lawsuit against Lafarge over the payments. In March 2017, French Foreign Minister Jean-Marc Ayrault criticized LafargeHolcim for competing to build the wall on the border of Mexico–United States border promised by President Donald Trump . They were also criticised by presidential candidate Emmanuel Macron . In May 2017, Jan Jenisch

1568-661: The Itaguaí port (in Itaguaí , Rio de Janeiro). It also has control through shareholding in the railways MRS Logística , and the Companhia Ferroviária do Nordeste (CFN), in hydroelectric dams at Igarapava and Itá , and in factories in the United States and Portugal . Protectionist measures adopted by the governments in some of CSN's main markets could adversely affect crucial export sales. In response to

1624-534: The North American business with a full capital market separation. Holcim was founded by Adolf Gygi in 1912 as "Aargauische Portlandcementfabrik Holderbank-Wildegg". The original headquarters were in Holderbank , ( Lenzburg district , Canton of Aargau ). In 1914, the company merged with "Rheintalischen Cementfabrik Rüthi" owned by Ernst Schmidheiny. Schmidheiny took over leadership duties and began

1680-448: The Presidente Vargas Steelworks during the 1970s. The first, completed in 1974, increased installed annual production capacity to 1.6 million tons of crude steel. The second, completed in 1977, raised capacity to 2.4 million tons of crude steel. CSN underwent another expansion in 1989, increasing capacity to 4.5 million tons of crude steel. The company was privatized through a series of auctions held in 1993 and early 1994, through which

1736-557: The alleged misconduct. The former CEO, Eric Olsen , resigned in April 2017 because of the "strong tensions" incurred by the news. However, an investigation conducted by Baker McKenzie concluded Olsen was not responsible for the payments. In an interview with the French newspapers LeFigaro , Beat Hess, chairman of the board said: "Unacceptable errors were made that the Group regrets and condemns. It's far easier to say this in hindsight but

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1792-790: The business, splitting it into two divisions. Ernst took over the Holderbank building materials business, while Max oversaw the other lines. This organization scheme remained in place until the 1970s. After World War II, Hans Gygi, son of Adolf Gygi, took over leadership. He oversaw the company during the Swiss housing boom of the 1950s, and as Holderbank expanded into Canada, then throughout North and South America. The company went public in 1958 in order to raise more capital to fuel further expansion. Hydroelectric projects in Switzerland generated large concrete contracts, offsetting losses in Egypt when

1848-456: The coal mines at Siderópolis, Santa Catarina state. During almost 50 years of state control, the Brazilian flat steel sector was coordinated on a national basis under the auspices of Siderbrás , the national steel monopoly. The state had far less involvement in the non-flat steel sector, which has traditionally been made up of smaller private sector companies. The larger integrated flat steel producers operated as semiautonomous companies under

1904-466: The company changed its name from "Holderbank Financière Glaris" to Holcim (short for Hol derbank cim ent). Asia drove growth in the 2000s, as the company saw more than 50% of its business come from emerging markets. In 2005, Holcim purchased Aggregate Industries for US$ 4.1 billion, entering the United Kingdom for the first time. That year, the company also expanded into India by acquiring

1960-622: The company on a course of expansion. In 1922, Holderbank, as the company was then known, expanded beyond the Swiss borders into France. Schmidheiny continued to expand, primarily by buying stakes in existing companies. By the end of the decade Holderbank held stakes in Belgium, Germany, the Netherlands, and Egypt. Positions in Lebanon and South Africa soon followed. Schmidheiny died in the 1930s and his sons, Ernst Jr. and Max , took over

2016-580: The company was privatized by Itamar Franco 's government, during the National Program for Privatization led by the federal government, started by Fernando Collor and continued by Franco. Its main factories were located in Volta Redonda, at the Vale do Paraíba region, southern Rio de Janeiro state, and its iron mines at Congonhas and Arcos, both of them cities in the Minas Gerais state, and

2072-740: The company's Holderbank site and a new corporate office in Zug . In January 2019, LafargeHolcim completed the sale of its 80.6% stake in PT Holcim Indonesia Tbk, its Indonesian cement business, to Semen Indonesia Group for US$ 1.41 billion. During the summer, in July 2019, LafargeHolcim introduced Plants of Tomorrow, a four-year program that will see the utilization of automation technologies and robotics, artificial intelligence , predictive maintenance and digital-twin technologies across their entire cement production process. In August 2019,

2128-461: The construction of a six million-ton pellet plant. The company also explored opportunities for acquisitions or mergers abroad in order to expand output, and proposed to build a new steel plant which would have doubled current annual production of 5.8 million tons of raw steel, at an estimated investment cost of US$ 2.6 billion. Seeking to maintain focus on its program of acquisitions and growth, CSN set aside $ 520 million for investments in 2005. In 1993

2184-513: The control of Siderbrás and were individually privatized during 1991 to 1993. In 2006 CSN made a rival bid to acquire the Anglo-Dutch steel firm Corus , following an announcement the acquisition of Corus by Tata Steel of India for $ 8.1 billion (£4.5 billion, or £4.55 per share). Competitive bidding between the two companies raised the final price to £6.08 per share in 2007, with Tata outbidding CSN. CSN and Corus had earlier been partners in

2240-415: The country's government nationalized Holderbank's factories. During the early 1970s, growth in Brazil and Mexico improved the company's bottom line. The Schmidheiny brothers convinced shareholders that the company should consolidate holdings and merge with Schweizerischen Cement-Industrie-Gesellschaft. The combined company had annual revenue of 800 million Swiss francs and established Holderbank as one of

2296-681: The domestic market include quality, price, payment terms and customer service. Although CSN competes with other integrated Brazilian steel mills, it has not experienced significant import competition in Brazil from foreign steel companies. Several foreign steel companies, however, are significant investors in Brazilian steel mills. CSN has these competitive advantages over its Brazilian competitors: • Its focus on selling high margin products, such as tin plate, pre-painted, galvalume and galvanized products, in its product mix. • It owns its iron ore reserves, compared to domestic competitors who purchase their iron ore requirements (mainly from Vale ). • It has

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2352-480: The firm announced a "commercial breakthrough for low-carbon cement", Solidia Concrete, which "reduces the overall carbon footprint in precast concrete by 70%". Later in the year, in Fall 2019, LafargeHolcim announced the allocation of 160 million Swiss francs ($ 161 million) on 80 projects across Europe to cut annual emissions from its cement manufacturing processes by 15% by 2022. In September 2020, LafargeHolcim joins

2408-543: The first time. Thomas Schmidheiny took over leadership, overseeing the company as in expanded into Eastern Europe and experienced a boom in Spanish construction preceding the 1992 Summer Olympics . By 1986, Holderbank was the world's largest cement manufacturer. In the 1990s, the company consolidated its European holdings as the American market drove growth. Expansion into Eastern Europe and Russia continued. In 2001,

2464-473: The globe. The building materials market is driven by massive global population growth , the shift towards city and urban living and the infrastructure, the highways , bridges , hospitals and schools , that growing populations require. Miljan Gutovic took over as CEO of the group on 1 May 2024. Members of the executive committee are formally appointed by the Board of Directors: Holcim Holcim

2520-468: The good momentum and inflation stability in line with the Central Bank's inflation target. During 2004, the Central Bank increased Brazil's base interest rate by 1.25% to 17.75%, on concerns that growth in Brazil's gross domestic product could jeopardize the inflation target. The main competition of CSN in Brazil are Arcelor Brazil, Metallurgica Gerdau , Companhia Siderúrgica Paulista (COSIPA) , Usiminas and CST-Brazil. The primary competitive factors in

2576-511: The increased production and exports of steel in many countries, anti-dumping , countervailing duties and safeguard measures have been imposed by countries which represent some of the main markets for CSN exports. Those, and similar, measures could provoke an imbalance in the international steel market, which could adversely affect CSN's exports. New environmental standards imposed on CSN may require capital expenditures that do not increase productivity. CSN's steel-making facilities are subject to

2632-420: The industry's largest companies worldwide. The oil crisis of 1973 hit the industry hard as construction demand dried up in much of the world. Strong markets in Lebanon and South Africa allowed Holderbank to weather the storm. By 1976, revenue and profits had returned to pre-crisis levels. In the late 1970s and early 1980s, Holderbank continued its expansion in Latin America and expanded into Asia and Spain for

2688-667: The largest iron-mining operation in the country, through a controlling stake in Companhia Vale do Rio Doce (CVRD). In January 2004, the CSN board announced the approval of investments up to US$ 820 million to be made through 2007, including: expansion of production at the Casa de Pedra iron ore mine from 15.5 to approximately 40 million tons; expansion of the coal terminal adjacent to the Sepetiba Port facilities to enable annual exports of up to 30 million tons of iron ore; and

2744-494: The merger was the second largest announced worldwide in 2014. On 10 July 2015, the two companies completed the merger and created LafargeHolcim. On 15 July 2015, the new LafargeHolcim Group was officially launched. In June 2016, Le Monde reported that Lafarge paid taxes to ISIS middlemen in 2013 to 2014 to keep using their factory in Jalabiya, Northeastern Syria. On 2 March 2017, the Board of Directors of LafargeHolcim issued

2800-580: The new company, while Holcim's Wolfgang Reitzle will be chairman. Executives from both companies said the deal will save the new company 1.4 billion euros (US$ 1.9 billion) annually and create "the most advanced group in the building materials industry." Analysts said the deal could lead to further mergers within the industry and give competitors a chance to pick up assets at a bargain price. Companhia Sider%C3%BArgica Nacional Companhia Siderúrgica Nacional (CSN) lit.   ' National Siderurgy Company ' or ' National Steel Company '

2856-424: The real depreciated 1% against the U.S. dollar. Further fluctuations in the Brazilian currency, in relation to the U.S. dollar or other currencies, may have an adverse effect on CSN's financial condition and results, increasing the cost in reals of CSN's foreign currency denominated borrowings and imports of raw materials, particularly coal and coke . High inflation rates have in the past had negative effects on

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2912-526: The two largest producers in terms of sales as of 2014. In 2024, Holcim announced its plans to add 1,000 units of the battery-electric truck from Mercedes-Benz Trucks to its European fleet, with both companies signing a joint letter of intent for this purpose. The volume represents the most significant planned single order for the eActros 600, which has contributed to the achievement of the sustainability goals of both companies. Also, in 2024, Holcim announced plans to spin off its North American business, listing

2968-529: The world's leading producers of tin mill products. CSN also owns its own source of iron ore. Companhia Siderúrgica Nacional was created as a state-owned company on April 9, 1941, during the " Estado Novo era ", during the term of Brazilian president, Getúlio Vargas , after an agreement between the American and the Brazilian governments (see the Washington Accords ) for the construction of

3024-522: The world, and reach a combined net sales of CHF 26.7 billion in 2019. The group's central functions had been divided between Zurich and Paris until the end of 2018, but are currently being transferred to the Swiss cities of Holderbank and Zug . The company's research facilities are in l'Isle d'Abeau, near Lyon, France. Headquartered in Switzerland and listed on the SIX Swiss Exchange , Holcim Group holds leading positions in all regions across

3080-445: Was appointed as the new CEO of LafargeHolcim Group. In March 2018, Jan Jenisch announced a new strategy, Strategy 2022 – ‘Building for Growth’, which aims to drive profitable growth and simplify the business to deliver resilient returns and attractive value to stakeholders. In May 2018, LafargeHolcim announced the next steps in the simplification of corporate organization. The corporate management positions in Switzerland will be moved to

3136-665: Was the market leader in cement production in Australia, Azerbaijan, India, Slovakia, Switzerland, and Latin America. Holcim is headquartered in Zug , Switzerland, and holds interests in more than 70 countries worldwide. They employ over 63,000 people. Subsidiaries include St. Lawrence Cement (Canada), Aggregate Industries (the UK), and Holcim Apasco (Mexico). The company's products include cement, clinker, concrete, lime, aggregates, and roofing materials. They also offer consulting services, third-party research and development, and land waste management services. Their largest business segment

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