Conagra Brands Inc. (CAG), a food company, announced on Friday that it plans to expand its manufacturing facility in Fayetteville, Arkansas, through a multi-year investment of approximately $220 million.
This project is expected to create more than 100 new jobs over the next five years as the company strengthens its frozen foods production capacity.
The expansion will significantly increase chicken production at the Fayetteville plant, which currently manufactures ready-to-eat meals under brands such as Hungry-Man, Banquet, Healthy Choice, Gardein, and Evol. The facility produces about 15 million cases of food annually.
Construction is expected to begin later this year. Conagra operates two facilities in Arkansas and employs about 2,000 workers in the state.
CAG is currently trading at $18.82, up $0.21 or 1.13 percent on the New York Stock Exchange.
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