Holcim Chief Executive Jan Jenisch on Monday described his company's North American operation, which the Swiss building materials firm plans to spin off next year, as a "rock star business." Holcim on Sunday announced it was spinning off 100% of its North American business in the biggest shake-up at the cement maker since it bought French rival Lafarge in 2015. The division, which now has sales of $11 billion has been a star performer for Holcim in recent years, increasing its sales by an average of 20% per year.
Holcim on Sunday announced it was spinning off 100% of its North American business in the biggest shake-up at the cement maker since it bought French rival Lafarge in 2015
Holcim shares were indicated to open significantly higher in premarket activity on the Swiss stock exchange on Monday after the building materials giant unveiled plans to separate and list its North American business. The company's shares were indicated 7.09% higher according to premarket information from Julius Baer. Holcim on Sunday said it will spin off 100% of its North American operations in a New York flotation which could value the business at $30 billion.