McCain cancels €1 billion factory investment in Germany

Canadian food company McCain has canceled its planned one-billion-euro investment to build a new french fry factory in Lower Saxony, Germany. The project was intended for the Peine district at the former coal port in Mehrum.

The cancellation follows a review of the project's economic viability and competitiveness. McCain cited current European market conditions as the primary reason, specifically noting a significant increase in project costs due to inflation, overcapacity in processed potato products, and weakening demand in key markets.

The investment was expected to create up to 650 new jobs. The Lower Saxony state government expressed regret over the decision, noting that both state and federal authorities had actively supported the project to attract the settlement to the region.