The hummus and Middle Eastern dips plant is due to open in 2010.
Strauss Group Ltd. (TASE:STRS) Middle Eastern dips maker, Sabra Dipping Company LLC. will build a new plant in Virginia at an investment of $68 million. The plant is due to open in 2010 near the state capital of Richmond.
Sabra CEO Ronen Zohar said, "We are projecting growth and planning exciting innovation."
Astoria, New York-based Sabra Dipping Company is a joint venture between Strauss and PepsiCo (NYSE: PEP) through subsidiary Frito-Lay North America.
Virginia Governor Timothy Kaine welcomed the news, saying that the plant would create 260 jobs. "We are proud to host the top-selling hummus brand in the country as it prepares for additional accelerated growth in an expanding industry."
Strauss shares fell 1.2% by midday on the TASE today to NIS 34.
Published by Globes [online], Israel business news - www.globes-online.com - on November 20, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008