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PARAGOULD, Ark.—Anchor Packaging says it will expand its plant at Paragould, investing an additional $40 million and creating 120 more jobs.

The St. Louis-based company produces packaging for restaurants, supermarkets and food processors. It has had a plant at Paragould for more than 20 years, and currently employs 540 people.

“It seems like the slow economy hasn’t affected the way people go about their lifestyles and how much they eat out at restaurants,” marketing manager Steven Eck said. “Nobody wants to cook any more. There are a lot of people out there who are going to places that have to-go and ordering at the counter and taking it home to feed their families. So for the time being, we are moving ahead, and we’re really excited about this opportunity.”

In addition to the manufacturing facility in Paragould, the company also has a distribution center in Paragould along with another manufacturing facility in Marmaduke.