Cemex, one of the world’s largest cement and concrete products companies, said it will build a new $400 million plant in Seligman, Ariz. The company said the building materials manufacturing facility is expected to open by 2012.
Cemex cited what it called “the historical shortage of building materials in Arizona and the southwestern United States” as a reason for locating the facility in that state.
"By utilizing efficient energy sources, limited amounts of water and state-of-the-art manufacturing and environmental technologies, the Seligman Crossing project will provide much needed building materials to the state of Arizona efficiently and cost-effectively,” the company said in a statement.
In its most recent fiscal quarter, Cemex reported net earnings rose 6 percent to $611 million from $579 million in the same period. Sales also grew 6 percent, to $4.9 billion from $4.6 billion last year.