Noting the french fry category is poised for growth globally, and China continues to be a critical market for Lamb Weston Holdings, the company has announced the planned construction of a new french fry processing facility in Ulanqab, Inner Mongolia, China. The plant will have the capacity to produce more than 250 million lb of frozen french fries and other potato products per year. The facility is expected to add approximately 280 full-time positions.
The new site will add to the company’s existing in-country production from its facility in Shangdu, Inner Mongolia, China. The investment of in-country production for the China market serves as an example of the company’s commitment to its strategic customers and supporting their growth plans into the future.
Expected to be completed in the company’s first half of fiscal year 2024, the new facility will rack up approximately $250 million in construction costs.
In other news, the board of directors declared a quarterly dividend of $0.235 per share of Lamb Weston common stock. The dividend is payable on June 4, 2021 to stockholders of record as of the close of business on May 7, 2021.
Lamb Weston, along with its joint venture partners, is a leading supplier of frozen potato, sweet potato, appetizer, and vegetable products to restaurants and retailers around the world. For more than 70 years, Lamb Weston has led the industry in innovation, introducing inventive products that simplify back-of-house management for its customers and make things more delicious for its customers.
The Processing Zone Returns to PACK EXPO
As a direct response to industry demands, The Processing Zone is returning to PACK EXPO Las Vegas and Healthcare Packaging EXPO (Sept. 27-29, 2021, Las Vegas Convention Center). The show will showcase front-of-line solutions from food processing/systems, food safety, engineering, design and construction services and more, according to show producer, PMMI, The Association for Packaging and Processing Technologies. It will also offer targeted education via its processing-dedicated Innovation Stage.
Attendee registration opens in May. In the meantime, visit packexpolasvegas.com for more information.
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