Holcim to Spin Off North America Unit, Seeking $30 Billion Value

Holcim Ltd., the world’s largest cement maker, said Sunday it plans to separate its fast-growing North American business to pave the way for alisting next year in the US valued at more than $30 billion.

The Swiss maker of building materials also namedits European head, Miljan Gutovic, as chief executive officer. He will replace Jan Jenisch, who will remain chairman. The executive move is effective May 1.

A valuation over $30 billion is in “the right ballpark” for the unit, Jenisch said in a conference call after the announcement. Holcim shares soared 38% last year, reaching ...