Sources: Holcim Ltd., Zug, Switzerland; CP staff In a vote tally 0.25 percent shy of 100 percent, Holcim shareholders approved a proposed spin-off of U.S. and Canadian cement, aggregate, concrete, asphalt and roofing product operations at their annual general meeting. The outcome confirms investor support indicated since January 2024, when management outlined a separation plan for the Holcim US, Holcim…
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Amrize transcends Holcim subsidiary status
The latest listing in a heavy building materials producer index that has taken shape on Wall Street since Trinity Industries’ 2018 Arcosa Inc. spin-off should arrive on the New York Stock Exchange around Memorial Day. Holcim Ltd. took a major step toward a Big Board listing of its U.S. and Canadian cement, aggregate, concrete and asphalt production assets late last…
Read MoreHolcim, Continental veteran Morin succeeds Titan Florida’s Dunlap
Sources: Titan America SA, Norfolk, Va.; CP staff Jason Morin has joined Titan America as president of the Deerfield Beach-based Florida Business Unit. He succeeds Randy Dunlap, who took the helm in 2014 and will continue with Titan America as executive director, Growth & Strategy. The Florida Business Unit spans the Pennsuco cement plant plus rail and marine import terminals;…
Read MoreBond offering confirms investor interest in Amrize, Holcim spin-off
Sources: Holcim Ltd., Zug, Switzerland; CP staff Amrize, the North American entity set for spin-off from Holcim Ltd., completed a $3.4 billion bond offering in four tranches: $700 million two-year and three-year notes, respectively maturing in 2027 and 2028, and $1 billion five-year and 10-year notes, respectively maturing in 2030 and 2035—the fixed coupons at 4.6 percent to 5.4 percent.
Read MoreTitan parent follows Argos, CRH, Holcim path to Wall Street listing
Sources: Titan Cement International S.A., Brussels; CP staff Euronext Brussels-traded Titan Cement International has informed investors of an initial public offering of shares in Virginia-based Titan America, which reported $1.6 billion in 2023 cement, supplementary cementitious material, aggregate and ready mixed concrete sales across coastal Mid-Atlantic and Southeast operations. With a projected early-2025 completion on a Wall Street exchange, the…
Read MoreHolcim gauges cement, aggregate asset traction on Wall Street
Sources: CP staff; Holcim Ltd., Zug, Switzerland The Holcim Ltd. announcement of a plan to spin off its U.S. and Canadian operations into a separate, publicly traded entity coincides with investor interest in construction materials production assets at its highest level in generations. A business encompassing Holcim North America holdings is poised to emerge on the heels of record or near-record valuations…
Read MoreHolcim outlines North American business spin off plan
Sources: Holcim Ltd., Zug, Switzerland; CP staff With an eye to unlocking North American asset value, Holcim Ltd. plans a 2025 spin off of its namesake US and Building Envelope plus Lafarge Canada Inc. operations, the new entity likely listed on the New York Stock Exchange. Across 850-plus sites and a payroll north of 16,000, the three businesses hold top…
Read MoreProducers – June 2023
The board of North Dakota-based MDU Resources Group closed May with a distribution of Knife River Holding Co. shares, finalizing a 10-month spinoff process of the concrete, aggregate, cement distribution and construction business from the utilities operator flagship. MDU Resources and Knife River are now independent, New York Stock Exchange-traded companies with distinct investment identities, business operations, customers and geographic…
Read MoreHolcim lands 175K-250K tpy ash management contract in Kentucky
Sources: Holcim (US) Inc., Chicago; CP staff Holcim (US) subsidiary Geocycle LLC has entered a multi-year contract with Louisville Gas and Electric (LG&E) Co. and Kentucky Utilities (KU) to process and market fly ash from their Mill Creek, Ghent and Trimble County generating stations. It calls for annual volume of 175,000 to 250,000 tons of concrete-grade ash, delivered by truck,…
Read MoreChaney Enterprises extends north in Holcim ready mixed plant deal
Sources: Chaney Enterprises, Gambrills, Md.; CP staff Chaney Enterprises has acquired the assets of a Holcim US ready mixed concrete plant in Joppatowne, Md. and retained front line employees. The location stretches the producer’s service market up the Interstate 95 corridor north of Baltimore. It also coincides with a Virginia market expansion, which has seen Chaney Enterprises acquire three ready mixed…
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