Holcim remains committed to Lafarge merger despite SNB move

Holcim said it remained committed to a planned merger with Lafarge despite a move by the Swiss National Bank (SNB) that knocked almost CHF3bn (US$3.45bn) off the Swiss company's market value.

In a surprise move, the SNB said on Thursday it would abandon the 1.20 per euro cap on the franc, sparking a near 30 per cent surge in the franc against the European currency and triggering a bout of equity market turbulence.

Speaking to Reuters, Holcim declined to comment on the SNB's move or its share price, but said it planned to press ahead with the merger. "Regarding a possible impact on the combination with Lafarge, what we can say is that we remain committed to the merger," Holcim spokesman Eike-Christian Meuter said.

A spokesman for Lafarge said the French firm also told Reuters it remains committed to the merger.