Holcim will spin off its North American cement and ready mix business, listing the business in the United States with a "full capital separation," according to a press release. The company operates 850 locations in the region, and says the move will allow it to capitalize on "once-in-a-generation infrastructure investments across the region."
“Holcim has reached a new level of financial performance and a superior earnings profile with industry-leading margins and a strong balance sheet," said Jan Jenisch, chair/CEO, in a statement. "The success of our North American business makes it the leading pure-play building solutions company in the region. With a U.S. listing, we will unleash its full potential to be the partner of choice for our customers in one of the world’s most attractive construction markets. As we fully capitalize on the region’s infrastructure and construction boom, we will accelerate growth and unlock value for our stakeholders."
The company expects the listing to be completed in the first half of 2025, and the final structure of the spin-off to be announced later this year.
Holcim said in the release that North America business has an average annual growth rate of 20% over the past four years. It projects net sales of $20 billion by 2030.
Source: Holcim
