Author John Revill
Zurich (Reuters) -Holcim gave more details about his plan to reject his business in North America on Friday, as the construction material company reported better than expected earnings for the fourth quarter.
Holcim has submitted a report to the US securities regulator on the shareholders’ deposit, will probably be one of the largest contracts in the global building market this year.
The Swiss company filed a DIC form 10 application required for the registration of the section ahead of Spin-off and trading on American exchange.
It contains details about a carved business, which Holcim said last week said to call Amrize, including 2024. A revenue of $ 11.7 billion and adjusted the basic profit of $ 3.2 billion.
“Today’s application indicates an important step towards the planned Amrize list and our ambition to become a leading construction solution company in North America from the Foundation to the roof,” said President Holcim Janisch, who was supposed to be the executive director of Amrize.
Holcim, he said the trail to finish the spin-off in the first half of 2025 and that he would hold an investor day in New York on March 25.
The announcement that he reported to Holcim about his fourth quarter’s results on Friday.
Repeating operational profits increased by 4.4% to 1.17 billion Swiss francs ($ 1.30 billion), beating forecasts by 1.14 billion, while sales of 6.47 billion francs, which was 1.9% compared to the year before.
Holcim said her business in North America had provided work on more than 200 infrastructure projects in the region, and he expected that the production re -examination would increase the growth of 2025.
However, it could be a difficult year for parts of the US construction market, Portland Cement Association said.
“The continuation of high mortgage rates has reduced housing,” said Brian Schmidt from the PCA, noting that commercial investments were also delayed.
Holcim, who said he expects to increase sales, if measured in local currencies, in the middle one-core range of the percentage of 2025 will hold investors Day for his non-North American business on March 28.
($ 1 = 0.8988 Swiss francs)
(John Revill reporting, Rachel More Mounting and David Evans)
