Holcim completes spin-off of North American business
ZURICH (Reuters) -Holcim has completed the spin-off of its North American business, with shares in the separate business - called Amrize - set to start trading in Zurich and New York on Monday.
Shareholders were given one Amrize share for every share in Holcim in the 100% spin-off of the business, which the Swiss cement maker said it was carrying out to focus on different market dynamics in North America and the rest of the world.
Holcim will focus on Europe, Latin America, Australia and North Africa in future, while Amrize will operate in the United States and Canada.
"This is an exciting moment for Holcim and Amrize as we begin a new chapter as independent companies," said Holcim CEO Miljan Gutovic.
In March, Holcim said it would target average annual growth in earnings before interest and taxes of 6% to 10% by 2030, driven in part by mergers and acquisitions, as it unveiled its new strategy following the separation.
Amrize, which had sales of $11.7 billion in 2024, is aiming to grow by 5-8% annually. It also wants to increase its core operating profit by 8-11% between 2025 and 2028 from $3.2 billion last year.
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