The Argentine subsidiary of Simplot, a multinational company that produces frozen potatoes and has become one of McDonald's leading suppliers worldwide, made a $20 million investment in its plant in Luján de Cuyo, Mendoza. It projects to produce in 2021 ninety thousand tons of french fries, with a billing close to $100 million, an increase that doubles the values of 2020.
The dairy company Mastellone Hermanos confirmed the exchange of Negotiable Obligations launched at the beginning of this month, successfully concluded, and that it was able to refinance debt for $162 million up to 2026.
YPF achieved a new horizontal drilling record in Vaca Muerta. According to the local company DLS, the onshore drilling division of Archer Limited, which provides drilling and completion services in Argentina and Bolivia and YPF, 2,245 meters were advanced in 48 hours with Rig 169 in the SOIL-369 well in the Loma Campana block. In the first quarter, YPF's oil production increased 3% compared to the previous quarter. Of this production, 23% came from non-conventional production, which grew by 11%.
Loma Negra, the Olavarría-based cement company, held a ceremony to switch on the kiln of the second line of the L'Amalí plant, which will start production next Saturday. The latest generation plant will enable the company to increase its output by 2.7 million tons of cement per year, equivalent to 40% of its current capacity. Its construction required an investment of $350 million and will improve efficiency and productivity.
The strategic consulting, technology services and outsourcing company "Accenture" seeks to expand its workforce in Argentina. To do so, it launched a search for 1,200 people to fill professional positions in the areas of finance, technology, HR, Big Data and Cloud, among others.
Newsan Group, the leading manufacturer of electronic products in Tierra del Fuego, will invest 200 million pesos ($2.1 mn) in an aquaculture project to develop the production of mussels in the Beagle Channel. The initiative is part of a diversification of activities of the national capital company, which had already ventured into the fishing and food sectors through its Newsan Food division. The company currently exports to more than 70 countries and has an annual turnover of $180
PwC presented its new global strategy that involves a total investment of $12 billion for the next five years and the creation of 100,000 new jobs. In the specific case of Argentina, the estimated investment is $45 million between now and 2024, with 1,000 open positions in various areas.
The Mexican-owned food company Bimbo confirmed the definitive closure of the frozen food factory that operated in San Fernando, Buenos Aires, which suffered a fire on May 9 that took it out of operation. Three hundred workers will be dismissed and will receive 100% severance pay.
The world's largest lithium company will invest more than $580 million in an extraction project in the province of Salta. The project will be powered by solar energy. The company Litio Minera Argentina SA, a subsidiary of Ganfeng Lithium, will generate more than four thousand jobs with the plan, 1,300 direct jobs and three thousand indirect jobs.
Shell Argentina tripled its production capacity in Vaca Muerta to reach 42,000 barrels of oil per day. In addition, this week, a new oil and gas processing plant was put into operation in the Neuquén basin, adding 30,000 barrels of oil per day (BPD) to the current 12,000 BPD.