Candy maker The Hershey Company (NYSE:HSY) will spend $90M to open two new production lines in a Mexican plant in the northern border state of Nuevo Leon, reported Reuters on Friday.
This expansion will increase output by 25% and will generate 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,” Nuevo Leon Governor Samuel Garcia said at the event.
HSY shares up 2% PM and over a period of one year stock has seen the upside of ~28%.
