Hormel Foods to Break Ground at New Production Facility

SOURCE: Hormel Foods Corporation

Last update: 8:00 a.m. EDT July 25, 2008

Via Market Watch & Business Wire

AUSTIN, Minn., Jul 25, 2008 (BUSINESS WIRE) -- Hormel Foods Corporation will break ground today on a new production facility in Dubuque, Iowa. Progressive Packaging, LLC will be operated as a wholly-owned subsidiary of Hormel Foods. Total cost of the project is estimated at $89 million.

"Iowa has been at the center of feeding this country and the world for more than a century, and we look forward to continuing our partnership with the people of Iowa to deliver great-tasting, nutritious meals to consumers throughout our system," said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer, Hormel Foods.

The plant is expected to be operational by November 2009. Initially, a total of 180 new jobs will be created with more expected in future phases.

About Hormel Foods

Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring quality, value-added brands to the global marketplace. In each of the past nine years, Hormel Foods was named one of "The 400 Best Big Companies in America" by Forbes magazine. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value.

SOURCE: Hormel Foods Corporation

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