LEXINGTON, Neb. – Tyson Foods Inc. announced plans to invest $47 million on a new, expanded boxed-beef warehouse at the company's processing facility in Lexington, Neb. Construction on the building is expected to begin this spring; completion of the project is set for mid-2016.

The project will include a 50,000 sq. ft. warehouse on the southeast corner of the existing complex. The Lexington plant produces commodity cuts of fresh ribs, loins, chucks and rounds in addition to various ground-beef products.

“We’re reinvesting in our Lexington plant because it’s an important part of our beef business and we want to make sure it continues to operate successfully,” said Steve Stouffer, president of Tyson Fresh Meats. “We appreciate the support we’ve received from our Team Members, area cattle producers and the Lexington community since the plant opened almost 25 years ago, and we want them to know we expect our facility to remain a major contributor to the local economy for many more years.”

The company expects the new addition to improve the flow, efficiency and capacity of the plant's boxed-beef storage and distribution systems. Products are vacuum-packed and boxed for sale to retail and foodservice customers. More than 2,700 individuals work at the plant which has been in operation since 1990. Springdale, Ark.-based Tyson Foods spent more than $2.2 billion in fiscal 2014 to supply cattle to the plant.