Frito-Lay Spending $30 Million To Expand Virginia Plant

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Frito-Lay Company (Plano, Texas), PepsiCo's (Purchase, New York) (NYSE: PEP) domestic and international packaged food business, is proceeding with a $30 million investment to expand operations at their snack foods plant in Lynchburg, Virginia.

Two new production lines will be installed at the company's 410,000 square foot plant located at 230 Jefferson Ridge Parkway in Lynchburg. One line, which will be dedicated to the production of Tostitos Scoops, is scheduled to be completed and producing product by October of this year.

The second line, which will produce a yet to be named product, will not be completed until sometime during the first quarter of 2003.

The project represents the second major investment at this facility over the past year. In June of 2001, Frito-Lay announced a $15 million expansion of the plant. Since the facility opened in 1998, it has been expanded twice and has produced over 153 million pounds of snack foods.

In February 1965, the Board of Directors for Frito-Lay, Inc. and the Pepsi-Cola Company announced a plan for the merger of the major beverage company with the snack foods company. The merger was approved on June 8 by the shareholders of both companies. As a result, a new company called PepsiCo, Incorporated was formed, with Frito-Lay and Pepsi-Cola becoming separate operating divisions. Today, PepsiCo, Incorporated is a $29 billion corporation and ranked 63rd in the 2002 Fortune 500.