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Investing

Kraft Heinz to invest $199 million in British manufacturing facility
Kraft Heinz to invest $199 million in British manufacturing facility

Published : 4 years ago, on

(Reuters) – Kraft Heinz 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)

(Reporting by Siddharth Cavale and Praveen Paramasivam in Bengaluru; Editing by Cynthia Osterman)

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication's content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.

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