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January 10, 2014
11:02 EDTBERYBerry Plastics to relocate manufacturing equipment to Indiana facilities
Berry Plastics announced plans to further optimize production and relocate manufacturing equipment to four of its Indiana manufacturing operations. The company will invest approximately $31M for new infrastructure and equipment, and will also transfer existing equipment from other Berry Plastics facilities. The project will begin in early 2014 and will result in the addition of more than 330 production jobs over the next two years, Berry said. The Indiana Economic Development Corporation offered the company a grant up to $300K to facilitate job skills training and $2.35M in Economic Development for Growing Economy tax credits which may be certified over the next 10 years. In addition, the City of Evansville offered the company a 10-year Tax Phase-In on real property investment, with an estimated value of $1.7M, and a Modified Schedule of Tax Abatement on personal property investment, with an estimated value of $2.8M.
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March 2, 2015
07:25 EDTBERYPackaging sector downgraded to Market Weight at Wells Fargo
Wells Fargo downgraded the Packaging sector to Market Weight from Overweight saying current valuation levels reflect known catalysts. Wells made no stock rating changes along with the sector, and continues to view International Paper (IP) and Crown Holdings (CCK) as its top picks. Other Outperform ratings in the space include Berry Plastics (BERY), Greif (GEF), Owens-Illinois (OI) and Packaging Corp. (PKG).
February 19, 2015
10:32 EDTBERYHigh option volume stocks:
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