Lamb Weston Holdings recently announced plans to expand French fry processing capacity in Argentina by building a new manufacturing facility in Mar del Plata, Buenos Aires. Lamb Weston Alimentos Modernos S.A., the company’s joint venture in South America, has recently increased its stake 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. 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,” Tom Werner, President, and CEO of Lamb Weston said.
The new French fry processing plant in Mar del Plata is expected to produce more than 100,000 tons of frozen french fries and other potato products per year for the 1m tons South American market.
The new line’s construction is expected to be completed by the mid-calendar year 2024, creating approximately 250 new jobs. The total investment is expected to be around USD240 million, depending on inflation and exchange rates at the time. This investment will supplement the joint venture’s existing manufacturing facility in Munro, Buenos Aires.
A source: https://www.potatobusiness.com
