Capital expenditure budgets (CapEx) for 22 public food companies surveyed by Food Processing are expected to increase 7.1% to $11.067 billion in 2008. Fifteen of the surveyed companies plan to increase their CapEx, with five increasing spending more than 25%. Pilgrim’s Pride and Hershey reported the largest planned increases, with CapEx growth of 72% and 66% to $295 million and $313 million, respectively. Four of the 22 companies plan to decrease their CapEx, all by double digits. According to one expert, larger companies that continue to spend could gain market share as well as improve efficiencies in response to lower margins. Source: Food Processing

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