Stock upgrades component capacity
Raleigh, North Carolina-based Stock Building Supply opened two new structural component plants, one in the Raleigh-Durham, North Carolina, market and the other near Salt Lake City.
In Middlesex, North Carolina, production of roof and floor trusses recently began in a 36,000-sq.-ft. location. This facility will join existing store and distribution locations in Raleigh, Apex, Johnston County and Franklin County to serve Raleigh-Durham and adjacent markets in North Carolina.
"Our sales and service teams are excited about this increased ability to provide local home builders and remodeling contractors with a market-leading structural component offering, which includes trusses, prefabricated wall panels, engineered wood and the unparalleled customer service provided by our associates,” said Rick Vancil, general manager of the Raleigh-Durham market.
In Salt Lake City, roof and floor truss manufacturing has been relocated to a larger and more strategically positioned 60,000-sq.-ft. facility. This new location, serviced by rail spur access, will also provide additional capacity for lumber and building materials distribution. It joins an existing component plant in Lindon and store locations in West Jordan, Layton and Park City.
Fritz Froerer, general manager of the Utah market, said: "We have served home builders and contractors in the Salt Lake Valley for over 100 years, and structural components are a key element of our product and service offering. This new location will allow us to build on our local leadership with enhanced production capacity, reduced lead times and continued high standards for quality."
The company now has 15 component plants. In all, Stock operates 69 facilities across 14 states.
Eagle revenues soar 19% in Q4
Eagle Materials reported significant growth in its fourth fiscal quarter and full year ended March 31, 2014.
Revenues for the quarter were up 19.3%, totaling $189.9 million. Net earnings were $22.6 million, up from $7.8 million year-over-year.
For the full year, Eagle pulled in sales of $898.4 million, up considerably from 2013’s performance of $642.6 million. The company’s bottom line also fared well for the year, netting $124.2 million and more than doubling 2013’s net income.
Eagle attributed its improved performance to higher sales volumes across the board, especially that of a record-setting cement and wallboard segment. The results are also a reflection of new acquisitions, including two cement plants in Missouri and Oklahoma.
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.