Cemex, the world’s top building materials company by revenue, said on Tuesday it plans to build a $400 million cement plant in Arizona.
Cemex , which operates in more than 50 countries, said it expected the facility to begin operations by 2012 to serve growing demand in the region.
The United States is experiencing a crisis in its subprime mortgage sector, which caters to borrowers with poor credit histories. That has led to a broad slowdown in homebuilding.
Cemex’s revenues in the United States, its top market, fell 16 percent in the second quarter to $941 million.
But strong sales in Cemex’s home country and the rest of Latin America, as well as Spain, Asia and Africa,
are helping the company.
Cemex, based in Monterrey, Mexico, said demographic trends suggest robust future population growth in the region around Arizona.