Hershey Invests $90M For Plant Expansion In Mexico: Reuters

by Shivani Kumaresan, Benzinga Staff Writer

September 9, 2022 1:34 PM | 1 min read |

Hershey Co HSY is planning to spend about $90 million to launch two new production lines in a Mexican plant in the northern border state of Nuevo Leon, Reuters reported.
The plant expansion plan is likely to increase the output by 25%.
The report mentioned that the move is expected to create 300 new jobs, in addition to the 2,500 already employed at the plant.
"With this investment, we are likely to go from fourth place to third among Hershey's largest plants," the report quoted Nuevo Leon Governor Samuel Garcia.
Related: Hershey Sweetens FY22 Forecast On Q2 Earnings Beat
Price Action: HSY shares are trading higher by 0.27% at $226.08 on the last check Friday.
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