News Potatoes
LambWeston significantly expands factory in Russia
Potato processor LWM RUS is significantly expanding the factory in the Lipetsk (Russia). The processing capacity is more than doubled with a second production line. The LambWeston/Meijer subsidiary is investing €145 million.
To this end, the company has signed an investment agreement with Igor Artamonov, the governor of the Lipetsk region. The investment of 13 billion rubles (€145 million) will create 250 additional jobs in the region. "This is great news for the Lipetsk region, as it creates jobs and contributes to the development of the local potato cultivation," Artamonov said in a statement from LWM.
Russian market is growing
The factory expansion is primarily aimed at the growing Russian and CIS markets. All potatoes come from local growers, who are supported in the cultivation by LWM. “The French fries market is growing globally and Russia is a very important market for us. This investment in domestic production demonstrates our commitment to our strategic customers and supporting their growth plans going forward,” said Mark Schroeder, CEO of LWM.
The company, which it claims is the largest producer of frozen potato products in Russia, expects construction of the new factory to start within weeks and the production line to be completed in early 2023.
Jurphaas Lugtenburg
© DCA Market Intelligence. This market information is subject to copyright. It is not permitted to reproduce, distribute, disseminate or make the content available to third parties for compensation, in any form, without the express written permission of DCA Market Intelligence.
