Press release from Business Wire
ConAgra Foods Lamb Weston to Expand Operations in Boardman, Ore.
<p class='bwalignc'> <i>$200 Million Expansion Will Add Capacity and Jobs</i> </p>
Friday, November 09, 2012
ConAgra Foods Lamb Weston to Expand Operations in Boardman, Ore.14:39 EST Friday, November 09, 2012 OMAHA, Neb. (Business Wire) -- ConAgra Foods, Inc., (NYSE:CAG) announced today an estimated $200 million expansion of its Lamb Weston frozen potato facility in Boardman, Ore. This strategic investment will add a new line to the plant – increasing capacity for making french fries and other frozen potato products – and is expected to create approximately 100 jobs for the region. As consumer demand for frozen potato products continues to grow both domestically and internationally, this significant capacity increase is needed to fulfill Lamb Weston's customer growth projections, particularly the dynamic growth expected from international markets. “Our need to expand is a testament to our strong customer partnerships, our great-tasting french fries, and the outstanding work our employees do every day to create food people love,” said Rick Martin, vice president, Global Operations, ConAgra Foods Lamb Weston. “This expansion also reflects our confidence in the region's growers to deliver high-quality potatoes while working with state and local government to ensure long-term, sustainable growing practices. We specifically appreciate the efforts and support of the Columbia River Enterprise Zone, Port of Morrow, city of Boardman, Morrow County and the state of Oregon and are proud to be an active part of this thriving community.” “We're thrilled Lamb Weston has reaffirmed its commitment to Boardman and the entire Columbia River Basin,” said Gary Neal, general manager, Port of Morrow. “As Lamb Weston realized, Boardman is an ideal place to expand as its business and employees continue to thrive here.” Construction of the 192,000 square foot, state-of-the-art addition is expected to begin in early 2013 with completion in 2014. The expansion does not alter ConAgra Foods' existing fiscal 2013 capital expenditure guidance. “We are excited about Lamb Weston's commitment to expand its operations in the Columbia Basin,” said Tim McCabe, director, Business Oregon. “We look forward to working in the near future with the Port of Morrow, city of Boardman and Morrow County as a partner to assist Lamb Weston's growth and ensure they remain a major employer in the area for years to come.” ConAgra Foods Lamb Weston is one of the largest employers in the Columbia River Basin – an area known for growing high-quality potatoes and other vegetables. The company operates seven facilities in the region employing nearly 4,500 people, including 500 employees in Boardman and 500 in Hermiston, Ore. With easy access to the Port of Morrow, the Boardman facility is strategically situated to support both domestic and international growth plans of Lamb Weston customers. Proximity to prime growing and shipping operations also helps reduce transportation needs, supporting Lamb Weston's efforts to shrink its carbon footprint. The existing Boardman facility is EPA ENERGY STAR® Certified as a result of employee efforts to reduce energy, reuse water and increase recycling. About ConAgra FoodsConAgra Foods, Inc., (NYSE: CAG), is one of North America's leading food companies, with brands in 97 percent of America's households. Consumers find Banquet, Chef Boyardee, Egg Beaters, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM, Peter Pan, Reddi-wip, Slim Jim, Snack Pack and many other ConAgra Foods brands in grocery, convenience, mass merchandise and club stores. ConAgra Foods also has a strong business-to-business presence, supplying frozen potato and sweet potato products as well as other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers. For more information, please visit us at http://www.conagrafoods.com. Note on Forward-looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current views and assumptions of future events and financial performance and are subject to uncertainty and changes in circumstances. We undertake no responsibility for updating these statements. Readers of this release should understand that these statements are not guarantees of performance or results. Many factors could affect our actual financial results and cause them to vary materially from the expectations contained in the forward-looking statements, including those set forth in this release. These factors include, among other things: availability and prices of raw materials, including any negative effects caused by inflation or adverse weather conditions; the effectiveness of our product pricing, including any pricing actions and promotional changes; future economic circumstances; industry conditions; our ability to execute our operating and restructuring plans; the success of our innovation, marketing, and cost- saving initiatives; the competitive environment and related market conditions; operating efficiencies; the ultimate impact of any product recalls; our success in efficiently and effectively integrating acquisitions; access to capital; actions of governments and regulatory factors affecting our businesses, including the Patient Protection and Affordable Care Act; the amount and timing of repurchases of our common stock, if any; and other risks described in our reports filed with the Securities and Exchange Commission. We caution readers not to place undue reliance on any forward-looking statements included in this release, which speak only as of the date of this release. ConAgra FoodsBecky Niiya, 402-240-5312Becky.Niiya@conagrafoods.com