Eurocement’s Galchev to join Holcim-Lafarge board

Egyptian billionaire Nassef Sawiris, the second-biggest shareholder in Lafarge SA, said he expects Eurocement founder Filaret Galchev to join the board of a merged Lafarge-Holcim Ltd. after the cement merger closes, reports Bloomberg.

“I believe it’s just a matter of time until Mr Galchev joins the board after the deal closes,” Sawiris said in a telephone interview. “His knowledge of the industry, coupled with his sizeable investment in the new group, ensures he would add a lot of value to the company.”

Swiss cement maker Holcim last week risked alienating its second-biggest shareholder Eurocement after saying the Russian company’s proposal to get a board seat may have to wait.

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