Lamb Weston Exec Says Closing Connell, Washington Facility Reduces Total North America Capcity By More Than 5%; Expects European Potato Crop In The Aggregate To Be Aligned With Historical Averages; Potato Crop In North America To Be Slightly Above Average
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Lamb Weston announced the closure of its Connell, Washington facility, reducing its North American capacity by over 5%. The company expects the European potato crop to align with historical averages, while the North American crop is anticipated to be slightly above average.
October 02, 2024 | 3:20 pm
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Lamb Weston's closure of its Connell, Washington facility will reduce its North American capacity by over 5%. This could impact production and supply dynamics. However, the expected above-average North American potato crop may offset some capacity reductions.
The closure of the Connell facility directly reduces Lamb Weston's production capacity, which could negatively impact its supply capabilities and potentially its stock price. However, the slightly above-average North American potato crop may help mitigate some of the negative effects by ensuring sufficient raw material supply.
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