BOISE, Idaho (AP) -- The J.R. Simplot Co. is planning to build a new, state-of-the-art potato processing plant in Caldwell.

Company officials announced Wednesday plans to build a 380,000-square-foot facility they say will help the company keep pace with the competition.

Spokesman David Cuoio says competitors have better plants that are more efficient, flexible and capable of turning out more product. He says Simplot needs to modernize to keep up.

Officials say the new plant means the company will shut down other plants in Aberdeen and Nampa in the next two or three years, leading to the loss of fewer than 800 jobs.

The new facility will be built on the site of the company's original potato processing plant in Caldwell.

Executives are not releasing the cost of the new plant.

Copyright 2011 The AP.