Horace Greeley’s “Go West, young man” advice wasn’t about direction, it was about opportunity. If Horace was advising today’s food and beverage industry, something more along the lines of “Go gluten-free” would be his suggestion of where to invest capital. Threshold levels of spending are necessary simply to stay in the game, and even the most financially stressed food and beverage companies commit one or two percent of sales to capital expenditures each year. Investments in big-ticket projects, on the other hand, go where the opportunities lie, and today’s opportunities are different than yesterday’s. The changes are reflected in the greenfield plants…Full Story
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