Swiss company Holcim on track for Amrize IPO in US
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Swiss company Holcim on track for Amrize IPO in US
Holcim's North American business, Amrize, is still on track for its planned IPO in the United States. The new company is presenting itself to potential investors at an investor day in New York and is announcing its first medium-term targets.
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Amrize, which will focus entirely on the US market, is to be listed on the American stock exchange by the end of the first half of the year as planned. The company has also secured the financing for this spin-off, according to a press release issued by the Swiss cement and building materials group on Tuesday.
Amrize has also announced its first medium-term growth targets. Annual sales growth of 5% to 8% is to be achieved by 2028. Operating profit is to grow by 8% to 11% annually.
Amrize intends to achieve this growth both organically and through potential acquisitions. The company intends to create added value for shareholders through dividend payments, and share buy-backs are also conceivable.
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New management team in place
The new management team is now also complete. In addition to Jan Jenisch, who, as already announced, will take over the position of CEO and also the chairmanship of Amrize’s board of directors, Ian Johnston will become the new Chief Financial Officer. He is already CFO at Holcim North America. Jaime Hill and Jake Gosa will lead the Building Materials and Building Envelope divisions. In total, the new executive board consists of ten people.
Holcim announced a year ago that it would be separating its North American business and listing it as a fully independent company in the US. The background to this is the US government’s multi-billion investment programmes. “They will lead to unprecedented expenditure for the construction industry over the next eight to ten years,” said Holcim President Jan Jenisch at the time. The company said the split was necessary in order to fully utilise the potential and get off to a flying start.
Translated from French by DeepL/ts
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