- Published: Thursday, 29 September 2011 17:49
- Written by Cement Americas News
Officials of the Southwest’s newest integrated player held a mid-June grand opening for a $300 million, 600,000-plus-mtpy-capacity cement plant in northern Arizona. More than 10 years in the making, Drake Cement is located in Yavapai County, near the historic rail town of Paulden and 35 miles north of Prescott.
Inaction by Congress and the White House on the federal debt ceiling could derail the fragile U.S. economic recovery, spurring a second recession and adversely impacting cement shipments, according to a recent Portland Cement Association report. A federal default stemming from the absence of a higher debt ceiling would affect business, consumer and bank confidence, leading to a rise in interest rates and the likelihood of forced government austerity spending measures. Such moves, in turn, could depress highway and other government construction programs at the federal and state level.
As part of a global management realignment around six regional units in mid-March, Cemex, S.A.B. de C.V. named Karl Watson, Jr., president of Cemex USA in Houston. He had served as Eastern region president, based in West Palm Beach, and is the top Rinker Materials Corp. executive to have transitioned to Cemex USA.