Lamb Weston to Invest USD 415 Million in French Fry Processing Line in American Falls, Idaho

Lamb Weston Seashore Style Fries Flat (Courtesy: Lamb Weston)

Lamb Weston Seashore Style Fries Flat (Courtesy: Lamb Weston)

Julio 22, 2021

Lamb Weston Holdings, Inc. (NYSE: LW) announced today an expansion of french fry processing capacity at its facility in American Falls, Idaho, and the declaration of its quarterly dividend.

Tom Werner, President and CEO of Lamb Weston :

“We continue to be confident about the long-term health and growth of the global french fry market.”

“This investment in American Falls complements our recently-announced plans to construct a greenfield french fry processing facility in China, as well as capacity expansion in Russia by our European joint venture, Lamb-Weston/Meijer.”

“Together, these investments will strengthen our global manufacturing network, and provide us added flexibility to meet demand growth and serve our customers around the world.”

Capacity Expansion

The Company announced the planned construction of a new french fry processing line at its existing facility in American Falls, Idaho, with expected capacity to produce more than 350 million pounds of frozen french fries and other potato products per year.

Construction of the new line is expected to be completed by mid-2023, and will add approximately 130 new jobs. The total investment is expected to be approximately $415 million, and will include additional modernization of the existing facility, which was built in 1961.

Dividend

The Board of Directors declared a quarterly dividend of $0.235 per share of Lamb Weston common stock. The dividend is payable on Sept. 3, 2021 to stockholders of record as of the close of business on Aug. 6, 2021.

¿Te gustaría recibir noticias como esta por correo electrónico? ¡Únete y suscríbete!
Únete a nuestra Telegrama ¡Canal para actualizaciones periódicas!
Contenido Patrocinado
Gauchitas y Zuelo presentan las primeras papas fritas en aceite de oliva virgen extra de Argentina
Julio 09, 2024

Argentina: papas chips, extra premium

Argentina continua innovando en materia industrial, esta vez combinando dos productos insignia: papas y aceite de oliva.
How to Cook Frozen French Fries: Expert Advice
Julio 07, 2024

How to Cook Frozen French Fries: Expert Advice

Everyone in your kitchen knows how to cook frozen french fries, right? With the extraordinary turnover in kitchen staff driven by the pandemic, fry-cooking competency isn’t a given any more. Simplot shared this extensive advice and a lot of tips!
The Nacho Fries Lover’s Pass makes a comeback, unlocking 30 days of a regular order of Nacho Fries for just USD 10 exclusively through the Taco Bell app.
Julio 07, 2024

Nacho Fries season continues! Taco Bell® brings back Nacho Fries lover's pass and debuts Jalapeño Ranch Nacho Fries

Forget National Fry 'Day' – Taco Bell is celebrating Nacho Fries all month long by giving fans the chance to unlock 30 days of Nacho Fries in addition to an entirely new flavor!
Contenido Patrocinado