Mexican cement solidifies in Arizona
TEXT OF STORY
Lisa Napoli: The largest cement maker in the U.S. is actually a Mexican company called Cemex. And it just announced a deal to build a $400 million plant in northern Arizona, not too far from the Grand Canyon. From the Americas Desk at WLRN in Miami, Marketplace’s Dan Grech has more.
Dan Grech: Arizona needs cement. It’s one of the fastest growing states in the country, which has led to shortages.
The new plant will produce 1.9 million tons of cement a year. That’s almost the same amount Arizona currently brings in from Mexico and California.
Gordon Hanson’s an economics professor at University of California San Diego. He says Cemex has transformed itself from a small Mexican firm to a global powerhouse.
After forays in Europe and Asia, he says this new plant in Arizona is like Cemex building in their backyard.
Gordon Hanson: Cemex is not looking at the border as a dividing line between its markets. It’s trying to serve the Southwestern U.S. market and the Northern Mexico market as a single entity.
Cemex will build its plant near Seligman, Arizona, population 800. Construction will last three years, and create 700 jobs.
I’m Dan Grech for Marketplace.
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