%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %Kraft Heinz Co. (NASDAQ: $KHC ) is spending $3 billion U.S. to upgrade its American factories, its largest investment in a decade. The maker of ketchup, Jell-O, and Philadelphia cream cheese said it is upgrading its plants to make them more efficient and lower costs. The investment comes as Kraft Heinz grapples with U.S. President Donald Trump's tariffs and as consumer sentiment has fallen to its second-lowest point in 70 years. In its recent financial results, Kraft Heinz cut its sales and profit forecasts, citing tariffs and weak consumer spending. Management at the food company said the upgraded plants will enable it to come up with and sell new products at a faster pace. Kraft Heinz manufactures its products at 30 plants across America. The $3 billion U.S. investment will also help the company defend its market share, said management. While the majority of what Kraft Heinz sells in America is made domestically, the company is not immune to import tariffs. Executives at the Chicago-based company say they are dealing with tariffs on imports such as coffee and key ingredients used in some products. The plant upgrades should create about 3,500 new construction jobs where the plants are located, said Kraft Heinz. The stock of Kraft Heinz has declined 10% so far this year to trade at $27.59 U.S. per share.