Kraft Foods More Than Doubles 3Q08 Profit to $1.4 Billion With Solid Growth in Several Businesses, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — Kraft Foods Incorporated (NYSE:KFT) (Northfield, Illinois) announced October 29 that its third-quarter 2008 profit has more than doubled to almost $1.4 billion compared with $596 million in the same period last year. The earnings include the one-time gain from an estimated $2.6 billion sale of Kraft’s Post cereals business to Ralcorp Holdings Incorporated (NYSE:RAH) (St. Louis, Missouri). Industrial Info is tracking seven active Kraft projects worth $63.5 million. The projects range from a $1 million maintenance shutdown of a bacon-processing plant to a $40 million production-line addition.
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SOURCE: Industrial Info Resources