Holcim’s $30 Billion North American Operations Set for New York Stock Exchange Listing

Holcim will spin off its North American operations by 2025 through a listing on the New York Stock Exchange, which could value the business at $30 billion, the Swiss group said on Sunday, Reuters reports.

Also, the giant in the field of construction materials announced the replacement from May 1 of general manager Jan Jenisch with Miljan Gutovic, currently the head of Holcim’s European operations.

Bosses at the US division want to increase annual sales from about $11 billion today to more than $20 billion and generate an operating profit of more than $5 billion by 2030.

The rest of Holcim’s global businesses – in Europe, Latin America, Africa and Asia – will remain listed on the Zurich Stock Exchange and focus on construction solutions such as roofing products.

Jenisch, who has led Holcim since 2017, will remain chairman and lead the planned listing on the New York Stock Exchange. Describing the United States as one of the most attractive global construction markets, Jenisch explained that the decision will help the new company capitalize on the region’s boom in infrastructure and construction.

Holcim is the largest cement producer in North America, with 16,000 employees in 850 units.