Holcim adjusts US strategy after plant closures, shares watched by analysts

By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-29, 20:27.

Holcim Ltd (CH0012214059) has come back into focus after confirming the closure of cement plants in Seattle and Spokane in the United States and facing renewed questions around the planned spin-off of its North American business, as reported by Reuters. The company, whose stock is part of the SMI in Zurich, is reshaping its footprint in North America while US tax authorities scrutinize the spin-off's classification as a foreign corporation.

What Reuters and Holcim disclose

According to a June 28 report from Reuters, Holcim has confirmed that it will close two cement plants in Washington state, located in Seattle and Spokane, as part of its ongoing review of its industrial network in North America. The closures affect facilities operated by its US subsidiary and follow several years of demand shifts and efficiency measures in the region. Reuters coverage of the US plant closures

Holcim had previously announced its intention to spin off its North American business in a separate listing, a plan that would create an independent entity focused on that region's construction materials market. The US Internal Revenue Service has issued guidance suggesting that certain foreign spin-offs could be treated differently for tax purposes, raising questions about how Holcim's planned structure will be assessed. Holcim has stated in earlier investor communications that it continues to work with advisers on the spin-off structure, while emphasizing its long-term commitment to the North American market. Holcim investor information on the North American spin-off

Analyst views and North America focus

Analysts covering Holcim have recently underlined that North America accounts for a significant portion of the group's earnings, making any structural change in that region a key driver for the stock. MarketScreener data show that a majority of analysts maintain Buy or Outperform ratings on Holcim, with target prices that reflect expectations of continued margin improvement and growth from aggregates and ready-mix operations in the United States and Canada. Analyst consensus on Holcim shares

Several research houses, including UBS and Deutsche Bank, have pointed out in recent notes that Holcim's strategy of focusing on higher-margin solutions and products, as well as its decarbonization initiatives, could support valuation even as traditional cement capacity is reduced in selected markets. These analysts highlight peers such as Heidelberg Materials and Cemex as comparables, noting that the sector is moving toward lower clinker intensity and greater use of alternative materials. Reports stress that regulatory clarity in the United States around the spin-off will be important for investors who follow Holcim's listing on SIX Swiss Exchange. UBS commentary on Holcim's strategy

How Holcim earns its money

Holcim generates most of its revenue from manufacturing and selling cement, aggregates and ready-mix concrete, complemented by a growing portfolio of building solutions such as roofing systems and insulation. The group has also been investing in low-carbon materials, including reduced-clinker cement and recycled aggregates, to align with tightening emissions regulations and changing customer demand, particularly in Europe and North America.

Where the stock trades today

Holcim Ltd shares trade on SIX Swiss Exchange in Zurich under the ticker HOLN, with the latest available price information for the stock quoted in Swiss francs.

This article was produced with AI assistance and editorially reviewed. Price and company figures without guarantee; prices and dates may change at short notice. No investment advice, no buy or sell recommendation. Stock-market transactions carry risks up to and including total loss.