Frozen food products supplier Lamb Weston is preparing to invest $240 million to open a new manufacturing facility in Argentina to increase its French fry capacity in the South American region. A company release announced this week that the company also boosted its stake in its South American joint venture, Lamb Weston Alimentos Modernos S.A. from 50% to 90%.
“Our investment in a new french fry processing facility demonstrates our continued confidence in the growing global market for frozen french fries, and our commitment to serving our customers in Argentina and the broader South American market,” Tom Werner, President and CEO of Lamb Weston, said in a statement. “We’re grateful for the partnership of Sociedad Comercial del Plata, and the expertise they’ve shared over the last three years. We felt it was the right time to increase our interest in the joint venture, and we look forward to continuing to work with them as we expand in the region.”
The new plant will be opened in Mar del Plata, Argentina with a capacity of 200 million lb/yr of frozen French fries and other potato products.
Work on the facility is slated to reach completion in mid-2024. 250 new jobs will be created through the investment.
Source: https://www.powderbulksolids.com/food-beverage/lamb-weston-building-new-240m-french-fry-plant
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