In a landmark move that marks a new chapter in the construction industry, Holcim, a global leader in sustainable construction, has successfully spun off its North American business. Now known as Amrize, this strategic venture is poised to reshape the market and unlock unparalleled growth potentials in one of the world’s most dynamic construction regions. With Amrize emerging as a separate entity focused exclusively on the flourishing North American market, the spin-off is generating considerable excitement amongst industry experts, investors, and stakeholders alike.
The transformation is not just a corporate restructuring but a strategic realignment that positions both Holcim and Amrize for long-term success. For Holcim, the move allows it to concentrate on its core operations in Europe, Latin America, Australia, and North Africa, while Amrize is set to dominate the North American arena. This dual approach ensures that each company can focus on its strengths, driving innovation, efficiency, and sustainable growth in their respective markets.
Background and Strategic Rationale
Back in January 2024, Holcim announced plans to fully spin off its North American business. This decision was grounded in a couple of critical factors. First, the North American segment boasted a superior earnings profile with industry-leading margins and a remarkably strong balance sheet. Second, the construction market in North America continues to thrive, driven by robust infrastructure development and increasing urbanization across the region.
At that time, Holcim’s CEO, Jan Jenisch, recognized that the spin-off offered a unique opportunity. Jenisch noted, “With a US listing, we will unleash its full potential to be the partner of choice for our customers in one of the world’s most attractive construction markets.” This vision became the driving force behind the spin-off, solidifying Amrize’s position as a dedicated entity tailored to meet the evolving demands of North America.
Spin-offs like this are often intricate endeavors, involving financial restructuring, leadership transitions, and a deep dive into market dynamics. In Holcim’s case, the move was designed to unlock hidden value within the North American business. By creating a separate entity, the company could focus on enhancing operational efficiency and fostering strategic investments that align with the unique needs of the region.
Shareholder Approval and Corporate Restructuring
The spin-off received overwhelming support from Holcim’s shareholders. At the Annual General Meeting held in Zug, Switzerland on May 14, 2025, shareholders cast their votes, with an astonishing 99.75% in favor of the proposal. This near-unanimous approval underlines the strong confidence in the strategic direction chosen by Holcim’s management.
The mechanics of the spin-off were clearly laid out. Holcim decided on a special dividend distribution—issuing one share of Amrize Ltd for every share of Holcim Ltd held by the investors. This thoughtful approach ensured that existing shareholders could immediately benefit from the new company’s potential without incurring any additional costs or complications.
Following the spin-off, Amrize emerged as the foremost pure-play building solutions company in North America, boasting operational sites spanning over 1,000 locations and employing more than 19,000 individuals. The scale of its operations and its market focus position Amrize to capitalize on the surge in construction demand that is typical of North American economies.
Leadership Transition and Future Vision
An equally critical aspect of this transformative journey was the seamless transition in leadership. Jan Jenisch, who had served as Holcim’s CEO from 2017 until 2024, took on the mantle of chairman and CEO of the newly formed Amrize. His intimate understanding of the North American market and his proven track record at Holcim were invaluable assets during this transition period.
To further consolidate the changes, Kim Fausing—an executive with a wealth of experience from Danfoss—was appointed as the chairman of Holcim’s remaining global operations. This balanced leadership strategy, with distinguished figures at the helm of both entities, ensures that the strategic vision remains sharp and goals are clearly delineated.
The leadership changes have a far-reaching impact. They signal a renewed focus on strategic expansion and value creation for both companies. For Amrize, under Jan Jenisch’s guidance, the horizon is filled with promises of innovation, increased market share, and a robust expansion strategy aimed at harnessing the full potential of North America’s construction market.
Market Valuation and Stock Exchange Listing
One of the most remarkable highlights of this spin-off was the market valuation of Amrize. At approximately $30 billion, the valuation underscores the significant market presence and growth potential of the newly independent entity. This impressive figure is indicative of the robust performance of the North American business, which has consistently demonstrated a strong financial profile and growth trajectory.
Furthermore, the decision to list Amrize’s shares on not just one, but two major stock exchanges—the New York Stock Exchange (NYSE) under the ticker symbol AMRZ and the SIX Swiss Exchange—was a masterstroke designed to attract a diverse investor base. This dual listing strategy enhances visibility in both North American and international markets, positioning Amrize to tap into global capital and broaden its investor outreach.
The listing on these prestigious exchanges is set to heighten scrutiny and elevate performance expectations. It also increases transparency for investors, paving the way for a more active trading environment and potentially higher liquidity in the future. With such a strong market entrance, Amrize is well-placed to capture the attention of both seasoned institutional investors and retail market participants.
Strategic Implications and Market Dynamics
The spin-off is a classic example of strategic realignment aimed at optimizing market performance. By separating the North American business, Holcim is better able to focus on its core competencies in other regions, such as Europe, Latin America, Australia, and North Africa. This focus allows for tailored strategies that address the distinct market dynamics and challenges in each region.
Amrize, now functioning as a standalone entity, finds itself in an enviable position. The North American construction sector is witnessing unprecedented growth driven by increased investments in infrastructure, housing, and commercial development. With the country’s economy gradually recovering from previous downturns and entering a phase of rapid expansion, the timing of the spin-off could not be better.
The strategic focus on sustainable construction has ensured that Amrize is not just another building solutions company but one that leads with innovative and eco-friendly practices. Leveraging advanced construction technologies, adopting lean operational methodologies, and committing to reducing environmental impact are just a few examples of how Amrize plans to differentiate itself in a competitive market.
This strategic clarity is vital. In today’s volatile economic climate, companies must navigate a complex mix of delivering shareholder returns, adhering to regulatory requirements, and meeting rising consumer expectations for sustainability. Amrize appears well-equipped to handle these challenges, as evidenced by its strong earnings profile and robust balance sheet.
Moreover, the spin-off positions both Holcim and Amrize to reap the benefits of increased focus and specialization. Holcim, by concentrating on its remaining operations, can channel resources into markets where they see long-term potential, innovative projects, and strategic growth opportunities. Meanwhile, Amrize is free to innovate, invest in cutting-edge technologies, and expand its market footprint in a region that is defined by rapid urban development and progressive infrastructure policies.
Driving the Future of Sustainable Construction
Sustainability in construction is more than just a trend—it’s a revolution, redefining the way buildings are designed, built, and maintained. Holcim has long been at the forefront of this revolution, championing green practices, minimizing waste, and championing energy-efficient methods. With the spin-off, both Holcim and Amrize are expected to reinforce this commitment to sustainability.
For Amrize, the North American market represents a fertile ground for introducing innovations that can significantly reduce the carbon footprint of construction projects. In a region where environmental regulations are becoming increasingly stringent, the ability to deliver high-quality, sustainable building solutions is not just an advantage—it’s a necessity.
Investments in green technologies and sustainable practices are already a centerpiece of Amrize’s strategic roadmap. Whether it’s through the use of alternative energy sources, advanced recycling techniques, or sustainable material sourcing, Amrize plans to be at the cutting edge of construction innovation. Their long-term vision includes sustainable infrastructure that will serve communities for generations to come, ensuring that development does not come at the cost of the planet.
The emphasis on environmental responsibility extends to every facet of Amrize’s operations. The company is investing heavily in research and development, forging partnerships with technology innovators, and adopting best practices in environmental management. These initiatives not only improve efficiency but also create a ripple effect, encouraging the entire industry to adopt greener practices.
A Bright Future Ahead: Concluding Thoughts
The spin-off of Holcim’s North American business into what is now Amrize is much more than an operational change—it’s a bold, forward-looking narrative about the future of sustainable construction. By creating two distinct entities, both Holcim and Amrize are now empowered to focus on their core strengths and capitalize on new market opportunities.
For investors, the decision represents a unique opportunity to invest in companies that are laser-focused on delivering sustainable and profitable growth. For customers, it promises specialized service and innovative solutions tailored to the unique demands of their local markets. And for the industry at large, it underlines the importance of strategic agility and the pursuit of innovation in an increasingly competitive global landscape.
Looking ahead, Amrize is positioned to be a leader in the North American construction market, leveraging its strong earnings, sound financial base, and commitment to sustainability. With a $30 billion market valuation and dual listings on key global exchanges, the company is set to become a compelling force in the industry. At the same time, Holcim remains poised to drive sustainable construction innovation across its other key markets.
This strategic realignment is a testament to the evolving nature of business in the modern era. It demonstrates that with thoughtful planning and bold decision-making, companies can harness market dynamics to unlock value, drive growth, and contribute to a more sustainable future. Both Holcim and Amrize are now better equipped to meet the challenges of the future head-on, ready to lead the construction industry into a new era of innovation and sustainability.
As the landscape of global construction continues to evolve, the impact of this spin-off will undoubtedly be closely watched by industry professionals, investors, and policymakers. It not only sets a benchmark for corporate restructuring but also highlights the critical role that sustainability plays in today’s construction projects. With its solid foundation, robust strategy, and visionary leadership, Amrize is all set to make a lasting impact in the North American market and beyond.
The future looks promising, and as we move forward, both companies are poised to write new chapters filled with opportunities, innovative projects, and a lasting commitment to sustainable growth. It is an exciting time for the construction industry, and the journey of Holcim and Amrize is a vivid reminder that strategic transformation can pave the way for even greater successes in the future.
