Holcim CEO wants to further expand in North America -report

ZURICH (Reuters) – Holcim’s (HOLNS.S) North American business is doing well and accounts for half of the cement maker’s sales, chief executive Jean Jenisch said. said in a media interview. solution business.

Holcim wants to grow its solutions and products division to around 30% of group revenue by 2025, Jenisch told financial website The Market.

The company confirmed comments to Reuters.

“We are well on our way and have the potential to grow further,” Marquette quoted Jenish in an interview published Wednesday.

“We hope to have another good acquisition opportunity or two. Within a few years, three equally important pillars – cement, aggregates/concrete and solutions and products – will each account for a third of our revenue. It should occupy 1.”

Solutions and Products, which offers products used in waterproofing, roofing and insulation, is the largest part of Holcim’s business in the United States, Holcim’s largest market, Jenisch said.

“Our roofing business alone has generated more than $3 billion in sales,” he said. “The segment of roofing, façade and mortar systems is a huge market.

“The roofing business alone is a $30 billion market in the United States, and Europe and Latin America combined is $50 billion. to.”

Holcim this week purchased a fiberglass matting facility in the United States to bolster its roofing business, as well as 13 sand and aggregate quarries in the Denver, Phoenix and Colorado Springs areas.

Jenisch said the company could expand into façade manufacturing through acquisitions in the future.

Holcim, which has cut its exposure to emerging markets from 50% to about 20% of sales, was also not under pressure to sell its Philippine business after a planned divestment in 2020 collapsed.

“At the time, the sale of that business was significant because the transaction was valued at $2.1 billion and we needed funds to pay off our debt,” says Jenisch.

“That pressure is gone. In the Philippines, we are the market leader and profitable.”

Reported by John Reville.Edited by Christopher Cushing

Our standards: Thomson Reuters Trust Principles.

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