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Eagle Materials Closes Plant With 70 Workers

DALLAS (AP) ¿ Building materials maker Eagle Materials Inc. said Friday it is closing a plant in New Mexico with 70 workers.

Eagle Materials will close its wallboard plant in Bernalillo, N.M. The shutdown will cut its annual wallboard production capacity by about 475 million square feet, or 15 percent of its U.S. capacity.

The company, based in Dallas, said the prolonged housing slump and "limited prospects for a quick recovery" in Western regions such as in Southern California, Southern Nevada and Arizona.

The closure is not expected to affect Eagle Materials fiscal 2010 financial results.

Shares rose 2 cents to $26.83 during late-day trading.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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