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Chicago will be the headquarters for Amrize, the new North American spinoff of cement and building materials giant Holcim.
“We have a long-standing presence in Chicago, and its central location enables our teams to easily connect with our customers and over 1,000 operating sites across North America,” Jan Jenisch, Holcim chairman, said in a Friday news release.
Switzerland-based Holcim is the largest provider of cement in the U.S. and Canada. It currently employs roughly 400 people in the greater Chicago area, as well as about 60 in the city. It plans to add 50 jobs in Chicago, through the spinoff. The company has roughly 65,000 employees worldwide. Amrize will operate more than 1,000 sites with more than 19,000 employees.
It expects to complete Amrize’s spin-off by the end of the first half of 2025, subject to shareholder and customary approvals.
Holcim’s products have been used to build beloved Chicago landmarks. For landscaping in Maggie Daley Park next to Millennium Park, it provided more than 40,000 tons of sand, as well as other materials. The company also provided 5,000 tons of sand for The 606, an elevated rail line refurbished as a park in northwest Chicago.
Holcim received a tax credit through Illinois’s Economic Development for a Growing Economy program and committed to making an $18.6 million investment in Amrize’s operations.
“Thanks to our competitive incentive programs, paired with our skilled workforce, strong infrastructure, and commitment to innovation, Illinois continues to position itself as a premier destination for businesses to grow and locate,” Gov. JB Pritzker said in a Friday news release.
As part of the EDGE program, “the state continues to provide critical support to companies looking to locate or expand in Illinois,” Kristin Richards, director of the Illinois Department of Commerce and Economic Opportunity, said in a news release. “Bolstered by state incentives, Holcim will further invest in Chicago while creating new, good-paying jobs and opportunities for Illinois’ working families.”
“Holcim’s decision to select Chicago as the location for its new spin-off company’s headquarters is due in no small part to the competitive incentives offered by the state of Illinois,” Senate leader Mattie Hunter, D-Chicago, said in a news release.
In 2024, companies in the EDGE program committed more than $650 million in investments across Illinois, according to Pritzker’s office.
Holcim’s Chicago office is at 8700 W. Bryn Mawr Ave., near O’Hare Airport. The company is seeking a new headquarters in the city and is in negotiations for about 39,000 square feet with several building owners, according to filings with the Illinois Department of Commerce and Economic Opportunity.
Holcim has 13 facilities in Illinois and Wisconsin, including a cement plant in Grand Chain and sites that produce sand, gravel, decorative stone and other materials.
Amrize’s shares will be listed on the New York Stock Exchange, according to Holcim’s filing with the Securities and Exchange Commission.
The listing would create a North American unit that is targeting more than $20 billion in net sales by 2030, the company said. In 2024, Holcim’s North American business generated $11.7 billion in revenue.
Holcim will retain its listing on the Swiss SIX stock exchange.
Contributing: AP
