Bernard Fontana became the first CEO of Holcim that was not part of the founding families. Merger with Lafarge On 7 April 2014, Holcim and Lafarge announced they had agreed to terms on 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 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. Notes and references Cement companies of Switzerland Companies based in Zug Manufacturing companies established in 1912 Swiss brands Holcim Group Swiss companies established in 1912 2015 mergers and acquisitions Companies formerly listed on the SIX Swiss Exchange