Latest news with #Amrize
Yahoo
5 days ago
- Business
- Yahoo
Tariff uncertainty won't affect Holcim's US expansion, CEO says
EVIA, Greece (Reuters) -Uncertainty over tariffs will not stall Holcim's plans to expand into the United States, the chief executive officer of the Swiss building materials supplier said on Thursday. A Manhattan-based court ruled on Wednesday that U.S. President Donald Trump overstepped his authority by imposing across-the-board duties on imports from trading partners. The news was met with cheers from markets but also creates uncertainty about how the situation will play out for companies. This month, Holcim received shareholder approval to spin off the cement maker's North American business, Amrize, to enable greater focus and benefits from increased construction spending in the United States. "We produce locally and we sell to local customers. So the impact from the tariffs for us is non-existent," Chief Executive Miljan Gutovic told Reuters in Greece at the opening of a 400-million-euro ($454 million) net-zero cement plant. The spin-off of its U.S. business will take place by the end of June as planned, he said. "I think (it will happen) any day now, probably in the second half of June," Gutovic said. ($1 = 0.8816 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
5 days ago
- Business
- Reuters
Tariff uncertainty won't affect Holcim's US expansion, CEO says
EVIA, Greece, May 29 (Reuters) - Uncertainty over tariffs will not stall Holcim's (HOLN.S), opens new tab plans to expand into the United States, the chief executive officer of the Swiss building materials supplier said on Thursday. A Manhattan-based court ruled on Wednesday that U.S. President Donald Trump overstepped his authority by imposing across-the-board duties on imports from trading partners. The news was met with cheers from markets but also creates uncertainty about how the situation will play out for companies. This month, Holcim received shareholder approval to spin off the cement maker's North American business, Amrize, to enable greater focus and benefits from increased construction spending in the United States. "We produce locally and we sell to local customers. So the impact from the tariffs for us is non-existent," Chief Executive Miljan Gutovic told Reuters in Greece at the opening of a 400-million-euro ($454 million) net-zero cement plant. The spin-off of its U.S. business will take place by the end of June as planned, he said. "I think (it will happen) any day now, probably in the second half of June," Gutovic said. ($1 = 0.8816 euros)
Yahoo
5 days ago
- Business
- Yahoo
Tariff uncertainty won't affect Holcim's US expansion, CEO says
EVIA, Greece (Reuters) -Uncertainty over tariffs will not stall Holcim's plans to expand into the United States, the chief executive officer of the Swiss building materials supplier said on Thursday. A Manhattan-based court ruled on Wednesday that U.S. President Donald Trump overstepped his authority by imposing across-the-board duties on imports from trading partners. The news was met with cheers from markets but also creates uncertainty about how the situation will play out for companies. This month, Holcim received shareholder approval to spin off the cement maker's North American business, Amrize, to enable greater focus and benefits from increased construction spending in the United States. "We produce locally and we sell to local customers. So the impact from the tariffs for us is non-existent," Chief Executive Miljan Gutovic told Reuters in Greece at the opening of a 400-million-euro ($454 million) net-zero cement plant. The spin-off of its U.S. business will take place by the end of June as planned, he said. "I think (it will happen) any day now, probably in the second half of June," Gutovic said. ($1 = 0.8816 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
14-05-2025
- Business
- Reuters
Holcim shareholders approve spinoff of North American business
ZURICH, May 14 (Reuters) - Holcim (HOLN.S), opens new tab shareholders on Wednesday approved the separation and spinoff of the cement maker's North American business in a transaction designed to benefit from ramped up construction spending in the United States. Nearly all shareholders voted for the separation to create a new company called Amrize, focussed on North America, with Holcim providing building materials for the rest of the world, with 99.75% backing the move. The spinoff is due to be completed by the end of June. The listing is planned via a 100% spinoff to Holcim shareholders, with the new company's stock to trade on the New York Stock Exchange with an additional listing on the Six Swiss Exchange. Amrize, which has more than 1,000 sites and 19,000 employees across North America, will be the biggest producer of cement across Canada and the United States. In 2024 it generated net income of $1.3 billion from sales of $11.7 billion, and intends to capitalise on the large infrastructure spending under way across the region. "We are convinced that as independent separately traded companies, Holcim and Amrize will benefit from a stronger strategic and operational focus," said Holcim Chairman Jan Jenisch, who is due to be CEO and Chairman of Amrize. ($1 = 0.8386 Swiss francs)
Yahoo
14-05-2025
- Business
- Yahoo
Holcim shareholders approve spinoff of North American business
By John Revill ZURICH (Reuters) -Holcim shareholders on Wednesday approved the separation and spinoff of the cement maker's North American business in a transaction designed to benefit from ramped up construction spending in the United States. Nearly all shareholders voted for the separation to create a new company called Amrize, focussed on North America, with Holcim providing building materials for the rest of the world, with 99.75% backing the move. The spinoff is due to be completed by the end of June. The listing is planned via a 100% spinoff to Holcim shareholders, with the new company's stock to trade on the New York Stock Exchange with an additional listing on the Six Swiss Exchange. Amrize, which has more than 1,000 sites and 19,000 employees across North America, will be the biggest producer of cement across Canada and the United States. In 2024 it generated net income of $1.3 billion from sales of $11.7 billion, and intends to capitalise on the large infrastructure spending under way across the region. "We are convinced that as independent separately traded companies, Holcim and Amrize will benefit from a stronger strategic and operational focus," said Holcim Chairman Jan Jenisch, who is due to be CEO and Chairman of Amrize. ($1 = 0.8386 Swiss francs)
