Popular Cement Firm Linked to $6.5M Terrorism Funds

French Cement company Lafarge has been found guilty of financing terrorist groups with $6.5 million between 2013 and 2014 to sustain its operations in Syria during the civil war, as reported by Nairametrics.

The ruling was delivered on Monday by a court in Paris, marking the first time a company has been convicted in France for financing terrorism.

The payments occurred at a time when jihadist groups, including Islamic State, had seized large territories across Syria and Iraq in 2014, declaring a so-called caliphate. Lafarge made the payments to maintain access and continue operations in the volatile region.

The court found that Lafarge paid armed groups primarily to keep its Syrian plant running, prioritising economic interests despite the risks. Judge Isabelle Prevost-Desprez noted that such payments strengthened these groups by giving them access to resources used to fund attacks across regions.

“It is clear to the court that the sole purpose of the funding of a terrorist organisation was to keep the Syrian plant running for economic reasons. Payments to terrorist entities enabled Lafarge to continue its operations,” she said.

“These payments took the form of a genuine commercial partnership with IS,” she added.
In its response to the BBC, Lafarge acknowledged the ruling but said the actions were inconsistent with its standards.

“This concerns a legacy matter involving conduct that occurred more than a decade ago and was in flagrant violation of Lafarge’s code of conduct,” the company said, describing the ruling as an “important milestone” in efforts to address the issue responsibly.

Lafarge’s involvement in Syria dates back to 2008, when it acquired a cement plant in Jalabiya for $680 million, with operations commencing in 2010, just months before the outbreak of the Syrian civil war in 2011.

As the conflict intensified, staff were housed in nearby Manbij and had to cross the Euphrates River daily to access the facility, exposing operations to increasing security risks.

Between 2013 and September 2014, prosecutors said the company made a series of payments to armed groups to sustain operations.

These included about €800,000 to secure safe passage for workers and goods, as well as €1.6 million paid for raw materials sourced from quarries under the control of jihadist groups.

The court found that payments were not limited to the Islamic State, but also extended to the Nusra Front, an al-Qaeda affiliate.

Several former executives were convicted in connection with the scheme, including ex-Chief Executive Bruno Lafont, who was sentenced to six years in prison. Former deputy managing director Christian Herrault received a five-year sentence, while Firas Tlass, a former Syrian staff member who facilitated the payments, was handed a seven-year sentence in absentia.

Founded in 1833, Lafarge is a French cement manufacturer and one of the world’s largest building materials companies.

It later merged with Swiss firm Holcim in 2015 to form LafargeHolcim, now known simply as Holcim.

In Nigeria, Lafarge Africa Plc reported N1.1 trillion in revenue for 2025, representing a 53% increase from N696.8 billion in 2024, with profit after tax rising by 173% to N273 billion.

Recently, the company announced plans to seek shareholder approval to change its corporate identity to ‘HBM Nigeria Plc’ at its 67th Annual General Meeting scheduled for April 30, 2026, in Lagos.

Source: Nairametrics