French cement maker Lafarge to face trial on terrorism funding charges

Cement maker Holcim’s Lafarge will face trial in a French court on charges that its Syrian subsidiary financed terrorism and breached European sanctions in order to keep a plant operating, France’s anti-terrorism prosecutor and a lead plaintiff said.

Lafarge, which became part of Swiss-listed Holcim in 2015, has been the subject of an investigation into its operations in Syria since 2016, one of the most extensive corporate criminal proceedings in recent French legal history.

Investigative judges in Paris gave the order Lafarge face trial on Wednesday.

In a statement to Reuters on Thursday, Lafarge said it acknowledged the decision of the investigating judges.

Holcim shares fell nearly 2% in late Wednesday trading after the news, before recovering a little to close 0.7% lower.

Read more: Reuters