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Building materials giant Holcim has received approval for its planned spin-off of its North American business, which will trade under the name Amrize.
Holcim has received the necessary approvals to complete the spin-off of its North American business into an independent public company, which will be named Amrize. Trading of the new entity, which gets its start with over 1,000 sites and 19,000 employees, is expected to commence on June 23.
The building solutions company will offer a broad range of iconic brands and advanced building solutions, from foundation to rooftop, to serve all construction markets across infrastructure, commercial and residential and from new build to repair and refurbishment, reports the company.
Holcim, which consists of such brands as Lafarge, EcoPact, Aggneo, Elevate (formerly Firestone Building Products) and Malarkey Roofing Products, explained that the name Amrize originates from two concepts: “ambition” and “rising.”
“Introducing the Amrize name marks an important step as we prepare Holcim’s North American business to become an independent public company,” stated Jan Jenisch, chairman of Holcim and designated chairman and CEO of Amrize. “This is an exciting time for construction in North America, with the ongoing modernization of infrastructure, the reshoring of manufacturing, and the opportunity to bridge the housing gap with the most advanced building solutions. With our planned spin-off of Amrize, we aim to be the partner of choice for our North American customers and unlock value for all our stakeholders.”
The Amrize name and branding will go into effect with the completion of the spin-off, subject to shareholder and customary approvals. Amrize’s operational headquarters will be located in Chicago, with its registered office based in Zug, Switzerland. Until the spin-off is complete, the North American business will continue to operate as part of Holcim.