JONA (dpa-AFX) - Holcim Group or LafargeHolcim (HCMLF.PK), Swiss building materials company, said on Monday that it intends to list its North American business in the U.S. with a full capital market separation to create a pure-play building solutions company in the region.
The listing is intended to be executed as a spin-off with an expected completion in the first half of 2025.
Holcim post US listing of North America is expected to remain included in the Swiss Market Index.
Jan Jenisch, CEO of Holcim, said: 'The success of our North American business makes it the leading pure-play building solutions company in the region. With a US 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. Holcim post US listing of North America will further advance its leadership in innovative and sustainable building solutions.'
The North American business has a profitable growth with an average annual growth rate of over 20 percent and an over-proportional growth in EBIT of more than 26 percent, on average, over the past four years.
Post listing, the business aims to achieve over $20 billion in net sales and more than $5 billion in EBIT with leading margins by 2030.
Holcim post US listing of North America plans to further boost its business, with an estimated EBITDA margin of over 23 percent for 2023. The company will aim to grow net sales to around CHF 22 billion, EBIT to more than CHF 4 billion by 2030.
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