Holcim shareholders approve spinoff of North American business

John Revill

Wed, May 14, 2025, 2:01 AM 1 min read

By John Revill

ZURICH (Reuters) -Holcim shareholders connected Wednesday approved the separation and spinoff of the cement maker's North American concern successful a transaction designed to payment from ramped up operation spending successful the United States.

Nearly each shareholders voted for the separation to make a caller institution called Amrize, focussed connected North America, with Holcim providing gathering materials for the remainder of the world, with 99.75% backing the move.

The spinoff is owed to beryllium completed by the extremity of June.

The listing is planned via a 100% spinoff to Holcim shareholders, with the caller company's banal to commercialized connected the New York Stock Exchange with an further listing connected the Six Swiss Exchange.

Amrize, which has much than 1,000 sites and 19,000 employees crossed North America, volition beryllium the biggest shaper of cement crossed Canada and the United States.

In 2024 it generated nett income of $1.3 cardinal from income of $11.7 billion, and intends to capitalise connected the ample infrastructure spending nether mode crossed the region.

"We are convinced that arsenic autarkic separately traded companies, Holcim and Amrize volition payment from a stronger strategical and operational focus," said Holcim Chairman Jan Jenisch, who is owed to beryllium CEO and Chairman of Amrize.

($1 = 0.8386 Swiss francs)

(Reporting by John Revill, Editing by Rachel More and Madeline Chambers)