Holcim Targets US Growth: 40% Group Sales and Expansion Plans

Summary

  • An announcement regarding a potential agreement could be made this week, provided the plans are not disrupted, according to insiders.
  • Holcim holds nearly 350 locations in the U.S. across 43 states, employing a workforce of 7,000, as per the data on their official website.
  • Last year in July, the Switzerland-based firm declared that North America is poised to contribute approximately 40% to group sales, marking an increase from $10 billion to $12 billion.
  • Primarily relying on the U.S. market, the Swiss cement manufacturer is looking forward to capitalizing on the opportunities presented by relocating manufacturers and governmental subsidies.
  • According to Holcim’s Miljan Gutovic, North America accounts for 40% of their business, a region where they have maintained a strong foothold for over half a century.

Reportedly, an upcoming deal could be made public this week, barring any last-minute glitches, state people in the know.

Holcim, however, refrained from commenting immediately on the matter.

The cement giant, originating from Switzerland, boasts close to 350 sites across 43 U.S. states, employing a strong workforce of 7,000, as declared on their official website.

Revenue Expectations

In July the previous year, the company announced their expectations for North America to contribute about 40% to group sales, translating to roughly $12 billion, a significant rise from $10 billion the year prior.

The Swiss cement manufacturer has its eyes set on new opportunities in the US, expecting many businesses to relocate back home to bypass potential bottleneck situations and utilize governmental subsidies.

“North America constitutes 40% of our market. Our footprint in the U.S. and also in Canada has been well-established for over more than 50 years,” commented Miljan Gutovic, while attending the World Economic Forum (WEF) annual meet in Davos, Switzerland.

Gutovic shared Holcim’s strategies, “We have numerous initiatives across North America aimed at escalating our plant capacity. And also, we have our focus set on M&A.”

Considering the potential changes in the cement industry in North America, Holcim’s strategies could impact the forex market. Traders dealing with the assets linked to this sector must keep a close watch on the company’s activities.

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