Benzinga | Sep 14, 2021 12:09PM EDT

Berry Global Plans $110M Investment To Expand North American Capacity

* Berry Global Group Inc (NYSE:BERY) has announced a $110 million investment to expand its foodservice packaging manufacturing operations in North America.

* The plan will expand the company's polypropylene thermoforming capabilities to manufacture clear drink cups and lids for quick-service restaurants, coffee shops, convenience stores, and other foodservice markets.

* The North American expansion is expected to be operational in 2022 and will add 200 new jobs.

* Berry Global noted that polypropylene cups and containers are the third most curbside-recycled plastic by consumers, citing the 2019 U.S. Post-Consumer Plastic Recycling Data Dashboard.

* Price Action: BERY shares are trading lower by 0.30% at $63.51 on the last check Tuesday.