Tyson Foods downsizes operations in Georgia while Smithfield Foods advanced plans for public stock trading in the United States.
Amid layoffs and plant closures by major meat processing companies, including Tyson and Smithfield, the meat giants are implementing significant marketing changes — one to support "optimization," the other to expand global business.
Cutting costs, Tyson is moving forward with the sale of its Georgia poultry operation to House of Raeford Farms. After a year of closing eight chicken and beef processing facilities, Vienna, Georgia, is next. If the sale — which is subject to approval by U.S. regulators — goes through, regional customers should expect no changes in operation or personnel, Tyson said.
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Tyson said that the decision was made to "optimize its plant network."
Smithfield, which has consolidated ham facilities in Iowa, submitted a proposal to list its shares for trading on the Nasdaq or New York Stock Exchange. If the plans proceed, Smithfield Foods will remain a subsidiary of Hong Kong-listed WH Group, the world’s largest pork processor. Smithfield was acquired by WH Group in 2013. There is no timeline for approval.