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Saturday 26 auguSt 2017 BUSINESS
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LG breaks ground on $250M appliance plant in Tennessee

By ERIK SCHELZIG ity in Clarksville is projected produce a fully assembled by U.S. Commerce Secre- workers,” Ross said.
Associated Press to cost $250 million and cre- washing machine every 10 tary Wilbur Ross and U.S. Corker praised President
CLARKSVILLE, Tenn. (AP) ate 600 new jobs. Located seconds. Sen. Bob Corker. Donald Trump and his Cab-
— LG Electronics Inc. on about 50 miles (80 kilome- The company said the Ross said LG’s decision to inet for fostering investment
Thursday broke ground at ters) northwest of Nashville, highly automated facility build the plant in Clarksville in the U.S.
the site of the South Korean the site was selected after will also be able to shift pro- will bring “family-sustaining “The Trump administration
appliance manufacturer’s a six-year national search. duction of models within jobs to Tennessee.” has done an outstanding
first washing machine plant The plant is scheduled to four minutes. “This is exactly the kind of job, I think, of releasing the
in the United States. be completed by the first Company and local of- job creation and invest- animal spirits in our nation
The 1 million-square-foot quarter of 2019, and it is ficials were joined at the ment that the administra- and focusing on job cre-
(92,900-square-meter) facil- designed to be able to groundbreaking ceremony tion is seeking for American ation,” Corker said.q

Amazon to cut prices on Whole Foods staples like eggs, beef

organic, Amazon said. The Charlie O’Shea, lead retail
company also said certain analyst at Moody’s Inves-
Whole Foods products will tors Service.
be available through Am- “Amazon can come in and
azon.com, AmazonFresh, price items very low,” he
Prime Pantry and Prime said. “Its shareholders are
Now. agnostic about profit, and
Amazon’s announcement seem more interested rev-
comes a day after Whole enue and market share.
Foods shareholders gave That’s a competitive ad-
their approval and the Fed- vantage.”
eral Trade Commission said Rivals have been scram-
it would not block the pur- bling to catch up with
chase. Amazon will pay $42 the e-commerce giant.
per Whole Foods share, an Walmart, which has the
18 percent premium from largest share of the U.S.
its price the day before grocery market, is expand-
the tie-up was announced ing its grocery delivery ser-
June 16. The stock edged vice with ride-hailing ser-
up to $41.98 on Thursday. vice Uber and announced
By buying Whole Foods, Wednesday that it will join
Amazon is taking a bold forces with Google to let
step into brick-and-mor- shoppers order goods by
In this May 3, 2017 photo, customers shop at a Whole Foods Market in Upper Saint Clair, Pa. tar, with its more than 460 voice on Google devices.
Amazon is moving swiftly to make big changes at Whole Foods, saying it plans to cut prices on stores and potentially very But Walmart’s shares were
bananas, eggs, salmon, beef and more as soon as it completes its $13.7 billion takeover. lucrative data about how off 2 percent, and shares
(AP Photo/Gene J. Puskar) shoppers behave offline. of other big grocery busi-
By BERNARD CONDON ucts elsewhere — possibly markets fell sharply on the The grocery chain, which nesses fell more. The Kroger
AP Business Writer at a lower cost — fits Ama- news. has fought the “Whole Pay- Co. dropped nearly 8 per-
NEW YORK (AP) — Amazon zon’s track record of keep- “Rivals should be under no check” reputation, had cent, and Supervalu Inc.
plans to use its deep pock- ing prices low to lock in illusion that they are now been under shareholder fell more than 6 percent.
ets to make big changes customer loyalty. Looking dealing with a competitor pressure to improve results Costco lost 5 percent and
at Whole Foods, saying it ahead, Amazon hopes to that is not afraid to dam- as customers moved on Target fell 4 percent.
will cut prices on bananas, give members of its Prime age profits and margins if and discount chains like While Whole Foods ac-
eggs, salmon, beef and program special savings it creates long-term gains,” Lidl and Aldi expanded in counts for less than 3 per-
more when it completes and other in-store benefits. Saunders said in an analyst the U.S. Whether Amazon cent of U.S. grocery and
its $13.7 billion takeover It’s an “opening salvo” in note. Among other Whole will succeed in the fiercely supermarket sales, the
next week. Helping Whole the grocery wars, said Neil Foods items getting dis- competitive grocery seg- purchase gives Amazon a
Foods win back customers Saunders, managing direc- counts Monday: avocados, ment is unclear, but cus- foothold in a fragile indus-
who found “good enough” tor of GlobalData Retail, tilapia, baby kale, apples tomers are going to ben- try that can ill-afford more
organic and natural prod- and shares of other super- and rotisserie chicken — all efit from the attempt, said price cutting.q

Georgia manufacturer is expanding, creating 211 jobs

By CHEVEL JOHNSON day announced that Meg- of Georgia’s ability to re- Meggitt currently employs tanks, fuel systems and ad-
Associated Press gitt Polymers & Composites tain dynamic manufactur- 1,000 people at the Polk vanced composite struc-
A manufacturer that de- will invest $30 million in its ing companies with our County facility. The new tures, including radomes
signs and develops engine expansion. business-friendly environ- jobs will include positions for in-flight satellite commu-
and aerodynamic seals, “Georgia values Meggitt’s ment and highly skilled in production, supervision, nications.
flexible fuel tanks and other steadfast commitment to workforce. We are looking management, engineer- David Horner, president of
engine components is ex- creating jobs and investing forward to growing our re- ing, inspection and techni- Meggitt Polymers thanked
panding its facility in Rock- in Polk County,” Deal said lationship with Meggitt and cal roles. Deal and the Georgia De-
mart, Georgia, creating an in a news release. “Meg- seeing the company con- Meggitt designs and man- partment of Economic De-
additional 211 jobs. gitt’s decision to expand tinue to succeed here in ufactures military and velopment for their work
Gov. Nathan Deal on Thurs- its workforce is a reflection Georgia.” commercial aircraft fuel and collaboration.q