Thursday, 11 May 2017

“Funding a terrorist organization can never be treated as a cost of doing business”

LafargeHolcim, the parent company of Aggregate Industries, continues to be the subject of the world's press following the resignation of its CEO and the funding of terrorists in Syria:

LafargeHolcim’s troubles do not end there. The company has also attracted criticism from Emmanuel Macron, one of the two candidates in the second round of the election, and from other French politicians for saying it was ready to supply cement for Donald Trump’s planned wall along America’s border with Mexico. The giant firm’s market value is stuck at 15% below its level in July 2015, when it began trading, as it struggles to cut costs and generate earnings. The company doubtless hopes that Mr Olsen’s resignation will help to put at least one of its headaches behind it.
Meanwhile, The New York Times warned that:
President Trump or anyone else considering doing business with the company should bear in mind the words of Jeffrey Taylor, a United States attorney in 2007 when Chiquita Brands International pleaded guilty to making payments to a terrorist organization in Colombia. “Funding a terrorist organization,” he said, “can never be treated as a cost of doing business.”