Tyson Expands International Interests
by June 7, 2001 12:02 pm 148 views
Tyson Foods Inc. announced today several international moves that the Springdale company thinks will help it continue growing its chicken business.
Tyson entered into an agreement to purchase the Villegas family interests in Tyson de Mexico, based in Durango, Mexico. Tyson will now own 95 percent of that company.
The acquisition was announced by Greg Huett, president of Tyson’s International Operations. He was in Mexico for the announcement.
Also, Tyson de Mexico has purchased the poultry assets of Nochistongo S.P.R. de R.L., a fully-integrated broiler production operation with a capacity of approximately 500,000 birds per week, located in Gomez Palacio. Nochistongo markets products under the Kory brand.
Tyson de Mexico believes it will now have the capacity to process approximately 2.2 million birds per week. Tyson de Mexico products are sold to retail and food service customers in Mexico and Latin America.
Tyson has also signed a joint venture agreement with Chinese partner Zhucheng Da Long Enterprises Co. Ltd. to own and operate a further processing plant in China. The plant, located in the Shandong Province, is expected to be operational in September. Par-fried, breaded, and boneless leg meat products from the plant will be marketed into Japan, other countries in the Pacific Rim, and certain countries in the Middle East. The plant will have the capacity to produce 20,000 metric tons annually.
Tyson Foods’ joint venture operation in Panama City, Panama with Alimentos Procesados Melo announced in April 2000, has begun processing in a new facility. The plant will produce a wide range of products, from fresh to fully-cooked. Both food service and retail markets in neighboring South and Central America will be serviced.
“These efforts move us quickly forward along our strategy of producing quality products for our worldwide customers from cost effective global locations,” Huett said.
Shares of Tyson (NYSE: TSN) were trading at $12.12 on Thursday after closing at $12.19 on Wednesday.