Spanish food company SOS Cuetara has announced that it will invest €116m (US$140.5m) by 2009 to expand manufacturing infrastructures, pursue new research activities and build new storage facilities.
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SOS will use its own cash flow to expand factories in its rice, oil and cookie divisions through the purchase of ricemills or cookie ovens, the company said in a statement with local stock market watchdog Comision Nacional de Valores (CNMV).
Sos will build new storage warehouses in Cordoba, Southern Spain and in Freeport, Texas, where it owns rice company American Rice (ARI).
Regarding ARI, Sos said it plans to gradually abandon the unit’s grain-rice business to further develop the company’s branded franchises.
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By GlobalData
