Bloomberg News

Schmidheiny Plans to Boost Holcim Stake, SonntagsZeitung Reports

October 02, 2011

Oct. 2 (Bloomberg) -- Holcim Ltd. board member Thomas Schmidheiny said he plans to increase his stake in the Swiss cement maker to 20 percent from 18 percent, without specifying when, SonntagsZeitung reported, citing an interview.

Schmidheiny said he’s “impressed” with the Swiss central bank’s ability to defend its franc ceiling of 1.20 versus the euro, the Zurich-based newspaper reported today. Switzerland’s tourism sector and export industries are “only fully competitive at an exchange rate of 1.40, however,” he was quoted as saying.

--Editors: Alex Nicholson, Torrey Clark

To contact the reporter on this story: Simone Meier in Zurich at

To contact the editor responsible for this story: Craig Stirling at

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