Swiss cement giant Holcim said on Monday that it has completed the spin-off of its North American business, Amrize, saying the separated companies will benefit from a sharper strategic focus.
The split was carried out via a dividend-in-kind distribution with investors receiving one Amrize share for each Holcim share they hold.
Shares in Amrize are starting trading under the ticker symbol AMRZ on both Zurich's SIX Swiss Exchange and the New York Stock Exchange on 23 June.
Amrize, as an independent business, will “capitalise on North America’s attractive construction market driven by long term mega-trends from infrastructure modernisation and onshoring of manufacturing to data centre expansion and the opportunity to bridge the housing gap,” said Jan Jenisch, CEO of the new company, which will be the largest cement provider in the US and Canada.
In 2024, the North American business generated revenue of US$11.7bn and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of US$3.7bn.
Holcim will continue to focus its investments in markets from Latin America and Europe to Australia and North Africa, as well as expanding its Building Solutions unit via acquisitions.
