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Company files F10 Form to SEC

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Filling is an important step towards spin off

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Investor day to be held in New York on March 25

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Q4 earnings slightly ahead of forecasts

(Recasts, adding details, industry comment)

By John Revill

ZURICH, Feb 28 (Reuters) - Holcim gave more

details of its plan to spin off its North American business on

Friday as the building materials company reported

better-than-expected earnings for its fourth quarter.

Holcim has made a filing to the United States securities

regulator about the divestment to shareholders, likely to be one

of the biggest deals in the global construction market this

year.

The Swiss company has submitted a Form 10 registration

statement to the SEC, needed to register shares ahead of the

spin-off and trading on a U.S. exchange.

It contains details about the carved-out business, which

Holcim last week said it would call Amrize, including its 2024

revenue of $11.7 billion and adjusted core profit of $3.2

billion.

"Today's filing marks an important step towards the planned

listing of Amrize and our ambition to become North America's

leading building solutions company from foundation to rooftop,"

Holcim Chairman Jan Jenisch, who is set to be CEO of Amrize,

said in a statement.

Holcim, said it was track to complete the spin-off in the

first half of 2025 and would hold an investor day in New York on

March 25.

The announcement as Holcim reported its fourth quarter

results on Friday.

Recurring operating profit rose 4.4% to 1.17 billion Swiss

francs ($1.30 billion), beating forecasts for 1.14 billion,

while sales of 6.47 billion francs, down 1.9% from a year

earlier, were in line with market expectation.

Holcim said its North American business had secured work on

more than 200 infrastructure projects in the region and expected

the reshoring of manufacturing to drive growth in 2025.

Still, it could be a difficult year for parts of the U.S.

construction market, the Portland Cement Association said.

"Continued high mortgage rates have subdued residential

construction activity," said Brian Schmidt, from the PCA, noting

that commercial investments were also being delayed.

Holcim, which said it expected to increase its sales, when

measured in local currencies, in the mid single-digit percentage

range in 2025, will hold an investor day for its non-North

American business on March 28.

($1 = 0.8988 Swiss francs)