French cement company Lafarge has been fined $778 million for supporting terror groups in Syria

The US Justice Department punished the cement giant for paying a $778 million fine for supporting terrorist groups including Islamic State during the Syrian Civil War.

The firm also admitted that it paid about 13 million euros ($12.8 million) to middlemen to keep its Syrian cement factory running in 2013 and 2014, although other firms had pulled out of the country.

“Lafarge SA and its inactive subsidiary Lafarge Cement Syria have agreed to plead guilty to one count of conspiracy to provide material assistance to designated foreign terrorist organizations in Syria.” AFP Lafarge was quoted as saying.

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“Lafarge SA and LCS accept responsibility for the actions of the individual officers involved whose behavior was in open violation of Lafarge’s Code of Conduct. We are deeply sorry that this conduct occurred and the United States is determined to resolve this matter.” Worked with the Justice Department,” it added.

A French court ruled earlier in 2022 that the company knew a lot of money had been spent on Islamic State operations.

Holcim Group, the Swiss conglomerate that acquired Lafarge in 2015, said the US Justice Department had cleared it of any wrongdoing. Holcim said she only became aware of the allegations in 2016 and began her own investigation and cooperated with US justice officials.

It said in a parallel statement, “Any conduct does not involve Holcim, which has never operated in Syria, or has any Lafarge operations or employees in the United States, and is contrary to everything it means to It’s Holcim.”

The following statements by the firms came just ahead of a planned press conference by Justice Department officials in New York to announce the settlement of the long-running case.

Swiss conglomerate Holcim Group acquired Lafarge in 2015.

With inputs from agencies.