Holcim to Spin Off North American Unit in $30 Billion U.S. Listing

The move, expected to be completed by 2025, comes as the profitable division aims to double its sales by 2030 amid a shift away from globalization.

Swiss cement maker Holcim Ltd. plans to spin off its North American unit and list it on a U.S. exchange, with a projected valuation of $30 billion.
The North American division of Holcim has been the largest, fastest growing, and most profitable part of the company, accounting for about 40% of sales last year.
The U.S. listing is expected to be completed by the first half of 2025, and the spun-off company aims to nearly double its sales by 2030.
Current CEO Jan Jenisch will lead the planned U.S. listing and will be replaced as CEO by Miljan Gutovic starting May 1.
The move is seen as a response to the end of globalization, with American growth and protectionism making it more profitable to be listed in the United States.