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Investing.com -- Holcim (SIX:HOLN) shares jumped 14% on Monday after the company said it completed the spin-off of its North America business, Amrize, marking a major structural shift for the Swiss construction giant.
The spin-off was executed via a dividend-in-kind distribution, with Holcim shareholders receiving one Amrize share for each Holcim share held as of June 20.
Amrize shares began trading on both the SIX Swiss Exchange and the New York Stock Exchange on Monday under the ticker “AMRZ,” according to a company statement.
The move separates Holcim’s North American operations from its core business, allowing both entities to operate as distinct, publicly traded companies.
Holcim stated that the split enables each firm to pursue “sharpened strategic and operational focus” with dedicated management teams.
“This is an exciting moment for Holcim and Amrize as we begin a new chapter as independent companies,” Holcim chief executive Miljan Gutovic said in the statement.
The spin-off aligns with Holcim’s “NextGen Growth 2030” strategy, which targets expansion in Europe, Australia and North Africa, while accelerating growth in Latin America.
Holcim reported CHF 16.2 billion in net sales in 2024, excluding revenue from Amrize.
Amrize, now operating independently, generated $11.7 billion in revenue in the same year, with operations across all U.S. states and Canadian provinces, and a workforce of 19,000.