Funding/Investments
Kraft Heinz Upgrades U.S. Manufacturing Facilities
Kraft Heinz plans to invest $3 billion in upgrading its U.S. manufacturing facilities, according to Reuters. The investment is the largest that the company has made for its facilities in 10 years.
Despite fewer sales and economic uncertainty from tariffs, the company is continuing with its investment in order to protect its market share. Kraft Heinz also believes that the investment will help with production long-term and quicken development time for new products.
The investment will increase efficiency at 30 of the company’s U.S. manufacturing facilities. Most Kraft Heinz products are made in the U.S., though some are exported to Canada after production.
The company says that the investment will create 3,500 new jobs, mainly in construction. Part of the investment will go toward a new, $400 million distribution center in DeKalb, Illinois, that will create 60 jobs.
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