Cemex patriarch Lorenzo Zambrano dies at 70
Cemex CEO Lorenzo Zambrano, who is credited with turning his family’s business into Mexico’s first sprawling multinational company, has died unexpectedly at age 70.
Zambrano was on a business trip in Madrid and was said to have died of natural causes on Monday, according to multiple media reports.
Zambrano is famous for his role in globalizing the company and putting Mexico on the map as a competitive force, drawing both admirers of his ambition and critics of his competition-squashing tactics.
The sudden nature of his death raises questions of succession at Cemex, where he held less than 1% of the company’s shares and had no clear successor in line.
Cemex was originally founded by Zambrano’s grandfather in 1906 in Monterrey, Mexico. Zambrano, who was born many years later in 1944, would eventually join the family business in 1968, only to become the cheif executive in 1985 and chairman 10 years later.
Zambrano is survived by his sister, Nina, and two brothers, Jorge and Hernán. He was unmarried and had no children.
Electrolux pumps extra $30m into Anderson facility
Electrolux is making a $30 million investment in its Anderson, South Carolina manufacturing facility, where it produces top-mount and under-the-counter refrigerators.
The money will go toward increasing the 810,000-sq.-ft. plant’s manufacturing capacity. Electrolux had previously invested an additional $30 million in the facility in order to add a Refrigeration Research and Development Center.
"Our primary focus at Electrolux is on the development of new innovation, based on consumer insight, that delivers high-quality products our consumers depend on," said Jack Truong, president and CEO of Electrolux Major Appliances North America. "We make award-winning products at this plant and our investment will drive future growth while also positively impacting our local base of employees and the South Carolina communities in which we live and work."
The plant, which sits on 225 acres, employes 1,900 full-time and contract employees and produces one out of every two top-freezer refrigerators shipped in North America, according to the company.
CertainTeed accepts honors from Drake Group
The Drake Group, a consortium of 68 leading specialty distributors, presented CertainTeed Insulation with a Vendor of the Year Award at the company’s winter meeting in Dallas.
"We chose to honor CertainTeed Insulation this year because they have shown extraordinary service to the industry and remarkable growth across the board," said Jeff Dushack, executive director of The Drake Group. "Our group of leading independent dealers from across the entire United States rated the company very high in the areas of trust, communication and responsiveness."
Presented on an annual basis, the awards are based on feedback from distributors at more than 280 locations in 43 states. The award was presented to Russ Karnis, director of distribution sales, and Rob Malandra, VP sales for CertainTeed Insulation.
"Given the Drake Group’s reputation throughout the industry, being named Vendor of the Year is high praise," said Malandra. "The recognition is a testament that our efforts to maximize service to key customers has been successful, and that top to bottom, CertainTeed remains a world class organization in the insulation marketplace."
Headquartered in Tampa, Florida, The Drake Group represents a national network of independent distributors of gypsum and related wall, ceilings and other building products.