100% spin-off to be completed by way of a 1:1 distribution of Amrize shares to Holcim shareholders
HOLCIM have received key approvals to complete the 100% spin-off of their North American business, to be named Amrize, with trading expected to commence on 23 June 2025.
The US Securities and Exchange Commission has declared effective the Amrize Form 10 Registration Statement, which includes Amrize’s first-quarter 2025 results reported under US GAAP, as well as financial statements from 2022 to 2024 prepared on a ‘carve-out’ basis under US GAAP. Amrize have also received authorization to list shares on the New York Stock Exchange and the SIX Swiss Exchange under the ticker symbol ‘AMRZ’.
Holcim shareholders approved the spin-off with a 99.75% vote in favour at Holcim’s annual general meeting on 14 May. The 100% spin-off will be completed via distribution of a dividend-in-kind with each Holcim shareholder receiving one Amrize share for every Holcim share owned as of the close of business on 20 June 2025.
Amrize will be added to the Swiss Market Index (SMI) and the Swiss Leader Index (SLI) on their first day of trading, as recently communicated by the SIX, and will also seek inclusion in relevant US equity indices. Holcim will remain trading on the SIX and included in the SMI and SLI under ticker symbol ‘HOLN’.
Key credit rating agencies have rated Amrize investment grade, placing the company in a strong financial position. S&P Global Ratings and Moody's Ratings have rated the company at BBB+ and Baa1, respectively, with a stable outlook. Amrize have successfully secured debt financing of US$3.4 billion in bonds, a US$2 billion committed credit facility, and a US$2 billion commercial paper programme. A US$1.7 billion bridge loan is also available to the company.
Amrize presented their business strategy and mid-term financial targets at their investor day in New York on 25 March. As an independent, publicly traded company, Amrize will aim to continue to deliver superior performance and value creation with above market growth, margin expansion, and leading cash generation. They will pursue a growth-focused strategy with capital allocation prioritizing investments in the business, value accretive mergers and acquisitions, and superior shareholder returns.
Amrize will be the largest building solutions company with 100% focus on the North American market and will have more than 1,000 sites and 19,000 employees. The company’s operational headquarters will be located in Chicago, with its registered office based in Zug, Switzerland.
Meanwhile, at their investor day on 28 March in Zurich, Holcim presented their new strategy and financial targets – NextGen Growth 2030 – to be the leading partner for sustainable construction. The company plans to leverage its sustainability leadership to deliver profitable growth in Europe, Australia, and North Africa, while accelerating growth in Latin America to benefit from strong market fundamentals and industrialization trends.
Holcim say they will grow their addressable markets by expanding in high-value building solutions, from building systems to high-performance concrete, and will drive shareholder value with growth-focused capital allocation and value-accretive mergers and acquisitions. Following the spin-off, Holcim will have more than 46,000 employees, with their headquarters remaining in Zug, Switzerland.
