This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Unilever Expanding West Tenn. Ice Cream Factory

Unilever and Nestle own more than 40 percent of the U.S. ice cream and frozen novelties market, Brockman said.

"Expansion of capacity in the U.S. for Unilever reflects the fact that it clearly feels it has the opportunity to expand its position in the market and to overtake Nestle there," Brockman wrote in an email.

Haslam thanked the company for its investment in Tipton County, where it is the largest employer. The factory was opened in 1996 by Land O'Lakes Inc., which packed Slim-Fast products. Unilever bought Slim-Fast in 2000 and began making ice cream in Covington in 2011.

County Executive Jeff Huffman said the factory jobs help improve the economy in a region that lost a significant amount of manufacturing jobs in recent years, caused by the economic downturn. The unemployment rate in Tipton County is about 9.7 percent, higher than the national rate of 7.3 percent, according to federal government statistics.

Huffman said 60 high school seniors received scholarships as part of a payment-in-lieu of taxes plan, which also created an $8.6 million tax incentive over 10 years for Unilever.

"West Tennessee needs more good news like this," Huffman said.

Along with its ice cream brands, Unilever's portfolio of food, home and personal care products also includes Axe, Country Crock, Dove, Knorr, Hellman's, Ragu, Vaseline, and Wish-Bone.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs