RICHMOND, Va., May 19, 2023
/PRNewswire/ -- Universal Corporation (NYSE: UVV) today announced
an approximately $30 million
expansion project at its subsidiary Shank's Extracts, LLC ("Shank's
Extracts"), a specialty ingredient, flavors and botanical extracts
company, headquartered in Lancaster
County, Pennsylvania. As part of this multi-year
project, Shank's Extracts will expand its facilities to support
current and future growth needs for additional liquid and dry
manufacturing, packaging, and refrigerated storage. The project
also includes installation of other manufacturing capabilities to
better serve its customers. "We are excited to announce this
expansion in our facilities at Shank's Extracts that will enable us
to enhance and expand the product offerings of our plant-based
ingredients platform," stated George C.
Freeman, III, Chairman, President, and Chief Executive
Officer of Universal Corporation.
Universal expressed appreciation for the support of the
Commonwealth of Pennsylvania's
Department of Community and Economic Development (DCED) and the
City of Lancaster for their
coordination and support of this project. "Shank's Extracts has a
long and impressive history in Lancaster
County, and DCED is proud to have worked with the company to
ensure they continue to grow right here in Pennsylvania," said DCED Secretary
Rick Siger. "The Commonwealth has a
lot to offer to food manufacturers, from our strategic location to
our dedicated and skilled workforce."
Universal Corporation (NYSE: UVV), headquartered in Richmond, Virginia, is a global
business-to-business agri-products supplier to consumer product
manufacturers, operating in over 30 countries on five
continents. We strive to be the supplier of choice for our
customers by leveraging our farmer base, our commitment to a
sustainable supply chain, and our ability to provide high-quality,
customized, traceable, value-added agri-products essential for our
customers' requirements. We find innovative solutions to
serve our customers and have been meeting their agri-product needs
for more than 100 years. Our principal focus since our
founding in 1918 has been tobacco, and we are the leading global
leaf tobacco supplier. Through our plant-based ingredients
platform, we provide a variety of value-added manufacturing
processes to produce high-quality, specialty vegetable- and
fruit-based ingredients as well as botanical extracts and
flavorings for the food and beverage end markets. For more
information, visit www.universalcorp.com.
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SOURCE Universal Corporation