Swiss Holcim firm to spin off N. American business

The Swiss cement giant Holcim announced on Sunday its intention to fully spin off its North American business and to list in the U.S. with a full capital market separation.

This step will further advance the company’s leadership position in innovative and sustainable building solutions, with an estimated EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin of over 23 per cent for 2023.

The U.S. listing is expected to be completed in the first half of 2025. It will be subject to shareholder approval at an Extraordinary General Meeting expected in the first quarter of 2025, as well as other customary approvals, the statement said.