Amrize completed another step toward the planned spin-off from Holcim with the update of its Form 10 Registration Statement, which includes Amrize’s first quarter 2025 financial statements prepared under U.S. GAAP. Holcim previously reported first quarter 2025 financials, including the Amrize business, in accordance with IFRS in its April 25 trading update.
The updated Form 10 Registration Statement has been filed with the U.S. Securities and Exchange Commission (SEC) and is available at www.sec.gov and on Holcim’s spin-off investor website.
According to Holcim, North America had a good start to the year, despite being affected by unfavorable weather conditions. Trading improved in March and the acquisition of an aggregates business was closed in the quarter. Holcim has now secured more than 230 infrastructure projects to 2028. Market fundamentals in North America remain strong in the mid- and long-term, driven by infrastructure modernization and the onshoring of manufacturing.
Miljan Gutovic, CEO, said, “I thank all my Holcim colleagues for their dedication and contributions to our good start to the year. Holcim achieved stable net sales in local currency year-over-year despite unfavorable weather conditions in North America. Our high-value strategy continues to deliver, with over-proportional recurring EBIT growth and a sustained level of margin in the first quarter. Growing customer demand for our sustainable building solutions drove ECOPact and ECOPlanet’s share of sales in their respective categories to new highs.”
Holcim expects to complete the planned spin-off of Amrize in June 2025, subject to customary approvals, including approval by Holcim shareholders at Holcim’s 2025 annual general meeting on May 14, 2025, and the Form 10 Registration Statement being declared effective by the SEC.
Following the planned spin-off, Amrize will be “the largest building solutions company focused exclusively on the North American market, offering its customers a broad range of advanced building solutions from foundation to rooftop across all construction markets,” the company stated.
Amrize also recently reported an important milestone on the path toward its planned listing with the successful completion of a $3.4 billion bond offering reflecting strong investor interest in the future company.
The bond offering was more than four times oversubscribed, and the $3.4 billion transaction is comprised of four tranches, including:
- $700 million two-year notes priced at a fixed coupon of 4.60% maturing in 2027.
- $700 million three-year notes priced at a fixed coupon of 4.70% maturing in 2028.
- $1.0 billion five-year notes priced at a fixed coupon of 4.95% maturing in 2030.
- $1.0 billion 10-year notes priced at a fixed coupon of 5.40% maturing in 2035.
“The significant market demand for our bond offering demonstrates strong investor confidence in Amrize and the future growth of our business,” said Ian Johnston, designated chief financial officer for Amrize. “We will begin our journey as Amrize in a position of financial strength as we aim to be the partner of choice for professional builders across North America and unlock value for all of our stakeholders.”
Amrize presented its business, growth strategy, capital allocation priorities and mid-term financial targets at its investor day in New York on March 25, ahead of the planned spin-off from Holcim, which is expected by the end of the first half of 2025.