ConAgra Plans $100M U.S. Factory Expansion

by Christopher Freeburn | September 25, 2012 12:40 pm

The employment picture in Russellville, Arkansas, is about to improve[1].

ConAgra Foods (NYSE:CAG[2]) announced on Monday that it will start production of Bertolli and P.F. Chang’s packaged frozen foods at its local manufacturing facility.

The food maker acquired the Bertolli and P.F. Chang’s brands this year and will spend $100 million to prepare the factory to make the frozen meals, the Associated Press noted.

That will mean 80 new jobs at the Russellville factory.

The company has maintained operations in the area for more than 45 years and employs about 1,350 workers at its facility in Russellville.

Shares of ConAgra slipped fractionally in Tuesday mid-day trading.

ConAgra stock surged last week after it posted a 170% rise in fiscal first-quarter earnings[3] and topped Wall Street forecasts. The company also raised its outlook for the year.

Endnotes:
  1. is about to improve: http://www.businessweek.com/ap/2012-09-24/conagra-to-expand-plant-add-jobs
  2. CAG: http://studio-5.financialcontent.com/investplace/quote?Symbol=CAG
  3. fiscal first-quarter earnings: http://investorplace.com/2012/09/conagra-surges-on-good-news-bonanza-cag/

Source URL: http://investorplace.com/2012/09/conagra-plans-100m-u-s-factory-expansion/
Short URL: http://invstplc.com/1fzX04S