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Kraft Heinz to invest $199 million in British manufacturing facility

Stock Markets Jun 01, 2021 09:36
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© Reuters. FILE PHOTO: A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of Kraft Original Barbecue Sauce on a grocery store shelf in New York March 25, 2015. REUTERS/Brendan McDermid/File Photo
 
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(Reuters) - Kraft Heinz (NASDAQ:KHC) Co said on Tuesday it plans to invest 140 million pounds ($198.83 million) in its food manufacturing facility in northwest England over the next four years, subject to U.S. approval.

The investment would be the company's biggest expansion of an existing manfacturing site outside the United States in more than 20 years.

The plans for the Kitt Green plant northwest of Manchester would be aimed at adding production of Heinz ketchup, mayonnaise and salad cream. The money will also fund equipment and technology and create up to 50 new full-time jobs, the company said.

The plant will continue making Heinz soups and pasta. It already makes 1.3 billion cans of food per year.

"The Kraft Heinz investment is a vote of confidence in the UK economy from a major U.S. firm and a boost that will mean jobs and growth for the local economy," UK Minister for Investment Gerry Grimstone said in a statement.

Kraft Heinz said the plan was one of the largest proposed investments in British manufacturing since Brexit but did not provide details.

($1 = 0.7041 pounds)

Kraft Heinz to invest $199 million in British manufacturing facility
 

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Comments (1)
Jason Rich
Jason Rich Jun 01, 2021 6:12
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50 jobs ... ooh I’m wetting my pants
Karsten Böhm
Karsten Böhm Jun 01, 2021 6:12
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seems you be a bitter man because the UK does well. pathetic
david scott
david scott Jun 01, 2021 6:12
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Where would you rather the fifty jobs be?
david scott
david scott Jun 01, 2021 6:12
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I suspect it will be many more jobs when you include the supply chain.
 
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