Lamb Weston Holdings has announced an expansion of french fry processing capacity in North America and an increase in its quarterly dividend.
The company announced an investment to expand operations at its Hermiston, Oregon, processing facility, with the construction of a 300m pound-per-year, state-of-the-art french fry line. The new line will be modeled on the company’s recently operational production line in Richland, Washington, and is expected to be completed in the fourth quarter of fiscal 2019.
The new Hermiston line is intended to support growth in North America, as well as exports to Asia, where demand growth has been, and is expected to remain, strong. The expansion is expected to add approximately 170 full time positions.
The total investment for the new line is expected to be approximately USD250m, with capital expenditures of approximately USD25m and USD225m in fiscal years 2018 and 2019, respectively.
Source: Potato Business