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Switzerland’s Holcim plans separation of US business – WSJ
© Reuters. FILE PHOTO: The logo of Swiss cement maker Holcim is seen at its headquarters in Zug, Switzerland October 26, 2022. REUTERS/Arnd Wiegmann/File Photo
(Reuters) -Swiss building materials giant Holcim (SIX:) is nearing a deal to separate its North America business that could be worth more than $30 billion, the Wall Street Journal reported on Saturday.
The deal could be announced this coming week, assuming the plans don’t fall apart at the last minute, the report said, citing people familiar with the matter.
In July last year, the Swiss company said North America was on track to reach around 40% of group sales for the year, increasing to roughly $12 billion, up from $10 billion.
The company said earlier this year it expects to make “at least” 15 to 20 acquisitions this year and expand its businesses in Europe.
The company did not immediately respond to a request for comment on the newspaper report.
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