admin Kerry Group has announced that they are going to invest heavily in the manufacturing facility in Rome, Georgia. The monetary value of the investment is $125 million or 110.4 million.
This will be Kerry’s largest investment as they are going to build a 360,000 sq ft plant. The construction is supposed to complete by early 2021.
At present, the Kerry group has 6,000 people working with them at nearly 70 locations in the US.
Gerry Behan, global president and chief executive of Kerry Taste and nutrition said, “This new facility will be one of the most advanced and modern food manufacturing facilities in the world which will support our customers as they produce tasty and nutritious food products which will be consumed all across the US and Canada.”
There was a roundtable discussion in Ireland where the announcement of the investment was made. The conference was regarding Irish-US business relationship.
Kerry was to purchase the nutrition part of the business of American giant DuPont but missed it by a small margin. It could have been the biggest business deals but couldn’t be so. Their rival sealed the deal at $26.2 billion with DuPont.
The Republic of Ireland is the ninth biggest investor in the US. There was a rise in investment by Irish companies in the US as the investment rose by 72 per cent from 2017 to 2018.
“We saw 75 client companies either setting up or expanding their presence in the US last year so it wasn’t a surprise to us to see the huge jump in investment,” Mr Davis said.
“About half of the total of clients making investments last year were companies focused on digital technologies. We also saw further activity from life sciences companies and from those involved in emerging technology, such as Cubic, which opened an office in Minnesota, and Taoglas, which established a new hub in Minneapolis,” Mr Davis said.
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