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Robert Mills was announced as new CEO this week following Casey Keller’s retirement.
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The dairy producer said the investment will help add “advanced” processing technology at its Clayson Road site in Toronto.
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The company received a delisting warning from Nasdaq in March when its shares had traded below the $1 threshold for 30 consecutive business days.
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“Persistent drought is already leading to significant bottlenecks in the feed supply” – agriculture minister Alois Rainer.
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Under the proposal, food manufacturers would have to notify the FDA on added ingredients rather than on the current self-administered basis.
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Beef operations at the Souderton site will cease but the facility will be converted into a “dedicated value-added” plant.
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“Most of our attention has been on thinking about UPFs rather than GLP-1s, but a lot of our products are already in that space," McMullen says.
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Gilberto Tomazoni, the current CEO of the meat giant, will step down in January to become vice chairman of the board.
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