Quantcast
 
New book by Larry Connors Click here Improve your trading - See how


 

Campbell Soup to expand Macton plant

Tue. September 23, 2008; Posted: 06:03 AM
Stocks RSS
Sep 23, 2008 (The Fayetteville Observer - McClatchy-Tribune News Service via COMTEX) -- CPB | Quote | Chart | News | PowerRating -- Sep. 23--MAXTON -- Campbell Soup Co. is expanding its plant in Robeson County, adding a packaging capability that should create 50 jobs by summer.

Mark Cacciatore, senior director of operations at the Maxton plant, said the $15.9 million investment will include an additional 4,000 square feet of space and new machinery.

It will allow the plant, which now packages mainly in cans, to add what is known as "aseptic" production -- "basically, soup in a carton," Caccitore said.

Swanson broth -- a Campbell product -- packaged in that manner will be produced in Maxton as early as next summer, he said.

This is the second phase of recent development at the Maxton plant.

The first phase began in 2007 and wrapped up earlier this year. That was an $11 million investment for 225,000 additional feet of warehouse space, said Greg Cummings, Robseson County's economic development director.

At times, Cummings said, he had been nervous that a Campbell plant in Texas, California or Ohio might have nabbed the aseptic venture instead of Maxton.

"We really wanted it in this community," Cummings said. "They are a very valuable asset to our county."

Cacciatore said cooperation of state and county officials was key in landing the expansion. He also credited the track record of the local work force.

Water was also a selling point, Cummings said.

"During peak season, they use an average of 5 million gallons of water a day," he said. "And what we're doing is a total upfit up there in that part of the county."

Construction on the expansion actually started a few days ago, Cacciatore said.

When the additional 50 employees are hired, he said, the plant will have about 850 workers.

Right now, Campbell contracts with a third-party company in the United States to package Swanson broth. It is also produced in Toronto plant.

This will be the company's first U.S. plant to handle the aseptic production of the broth, Caccitore said.

"Our opportunities for life-long work force training, dedicated workers and exceptional quality of life continue to attract companies that want to grow and expand," Gov. Mike Easley said in a news release issued Monday.

The release said the expansion was made possible in part by a $150,000 grant from the One North Carolina Fund, which provides financial assistance through local governments to attract business projects that will stimulate economic activity and create jobs in the state.

Many of the jobs are likely to pay between $12 and $14 an hour, Cummings said.

According to the release from the governor's office, salaries for the 50 new positions will vary by job type, but the average annual wage will be $41,267, not including benefits -- more than the Robeson County average annual wage of $25,116.

Staff writer Rebecca Logan can be reached at loganr@fayobserver.com or 486-3582.

To see more of The Fayetteville Observer, or to subscribe to the newspaper, go to http://www.fayettevillenc.com/. Copyright (c) 2008, The Fayetteville Observer, N.C. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on Campbell Soup Co (CPB) click here. Campbell Soup Co (CPB) has Short Term PowerRatings of 4. Details on Campbell Soup Co (CPB) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [CPB]
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.