Holcim CEO sees era of global corporations coming to an end
Published: Sunday, Feb 4th 2024, 13:30
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The Swiss cement group Holcim is outsourcing its booming American business to an independent company. The background to this is the US government's investment programs worth billions.
"They will lead to unprecedented expenditure for the construction industry over the next eight to ten years," said CEO Jan Jenisch in an interview with the "NZZ am Sonntag" newspaper.
A US company would be the best way for Holcim to benefit from this. With over 850 production sites, the North American business has achieved considerable autonomy and Jenisch emphasized that this separation is the next logical step.
However, the decision also marks a turning point. "We live in a multipolar world," said Jenisch in the interview. "As a company, you have to adapt your strategy accordingly." Companies can no longer supply global markets from a single source.
In the interview, Jenisch also explained that this decision is not based on short-term profit, but is aimed at promoting long-term and sustainable growth. He identifies the USA as an attractive market that is characterized by unique infrastructure programmes and a trend towards reindustrialization.
Jenisch also commented on the current political uncertainty in the US due to the upcoming elections. He emphasized that the focus on economic aspects is crucial for Holcim.
Listed in Switzerland
The demerger will allow both companies to focus more specifically on their specific growth strategies. Holcim will remain listed in Switzerland and Jenisch is expected to assume a role on the Board of Directors of the new companies.
He emphasized that Switzerland will play an important role as a pioneering market for Holcim in terms of sustainability. In Europe, the old Holcim generally wants to concentrate on sustainable building materials in view of the stricter climate regulations. For export-oriented companies, however, the framework conditions in Europe are a burden, says Jenisch. "Today, you have to build up your own supply chains in the respective markets," he also said.
The new structure is to be implemented in 2024. The name for the North American business is yet to be announced.
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