By Maitane Sardon
Holcim's U.S. business Amrize on Tuesday issued midterm targets and named top executives ahead of its planned spinoff from the Swiss firm.
Holcim aims to spin off the North American business by the end of 2025's first half, in one of the biggest deals in the construction market this year.
The new U.S. building materials company Amrize aims to grow its adjusted earnings before interest, taxes, depreciation, and amortisation at an average annual growth rate of between 8% and 11% and to achieve a revenue annual growth rate of between 5% and 8% by 2028. It sees a cumulative cash flow of over $8 billion over the next three years.
Holcim appointed Board Director Jan Jenisch as Amrize's chairman and chief executive officer, Holcim's North America head of finance Ian Johnston as chief financial officer and Jaime Hill as President of Building Materials.
Roald Brouwer will be Amrize's Chief Technology Officer, the company added.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
March 25, 2025 02:34 ET (06:34 GMT)
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