Holcim has announced merger with Lafarge, reported Ventures Africa. The move was expected to deliver unexpected yet positive results after the merger would create the largest cement manufacturing firm in the world.

The report added that the collaboration of the two companies would establish better and efficient company operation. The merger was also seen to cut financing costs, said Ventures Africa. French cement manufacturer Lafarge said, “The new group will offer higher growth and low risk, thus creating more value.”

The merger of the two cement firms will make Lafarge shareholders get one Holcim share which corresponds to the number of stock they hold in the French cement manufacturer.

Holcim Chairman Rolf Soiron pointed out that the collaboration of the two firms was “a once in a lifetime opportunity to deliver substantially better value to customers with more innovation, a wider range of products and solutions.” He also added that the deal would add the earnings of its shareholders.