Kraft Heinz is spending $3 billion to upgrade its U.S. factories, its largest investment in its plants in a decade, even as executives say consumer sentiment is at its second-lowest point in 70 years, and it has cut sales and profit forecasts.
Navio emphasized that the investment is not solely about increasing efficiencies or managing tariff issues, but also about enabling Kraft Heinz to produce food for the long term.
The company, best known for brands such as Heinz, Oscar Mayer, and JELL-O, said it would invest $3 billion into its factories, generating 3,500 new construction jobs. The result will be the largest upgrade in over a decade.
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