ZURICH -Holcim will launch a 1 billion Swiss francs share buyback by the end of the year, the building materials giant said on Wednesday after reporting fourth-quarter earnings slightly ahead of. -February 28, 2024 at 02:49 am EST
- MarketScreener
Holcim shares were the best performers in Europe on Monday after investors welcomed the building material giant's plan to separate its North American business and list it on the New York Stock Exchange. Holcim on Sunday announced a plan to spin off the business to shareholders which could create a new company with a market valuation of around $30 billion. Thomas Schmidheiny, the company's biggest shareholder leant his support to the transaction, which will see two companies created - one supplying cement, concrete and roofing in North America and another covering the rest of the world.
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 takes 'rock star' North American business to Wall Street streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
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.