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Lamb Weston Announces Intention to Close Broekhuizenvorst Production Facility in the Netherlands
Lamb Weston Holdings, Inc. (NYSE: LW) today announced plans to close its production facility in Broekhuizenvorst, the Netherlands, to align its global supply chain footprint with evolving market conditions and as part of its broader executional excellence efforts.
Starboard Delivers Letter to Lamb Weston
Starboard Value LP (together with its affiliates, “Starboard”), a significant stockholder of Lamb Weston Holdings Inc. ("Lamb Weston" or the "Company") (NYSE: LW), today announced that it has delivered a letter to the Company’s Board of Directors.
The full text of Starboard's letter to the Company can be viewed here.
Lamb Weston Shutters One Plant, Defers to New Production in Argentina; North American Sales Flat
As of January 8, Lamb Weston will close one potato processing facility in Munro to consolidate into its newest facility in Mar del Plata, Argentina, according to a press release from the group that supplies some of the world's largest fast-food chains. While the company realizes most of its profits in North America, officials say other markets like Argentina are growing quickly.
“These actions are part of our broader strategy to improve profitability and enhance operational efficiency across our global manufacturing network..."
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