Tyson Adds Product, Appoints New Officer
by July 21, 2003 12:00 am 68 views
Tyson Foods Inc. announced on July 1 that it has signed an exclusive license with Active Life Foods Inc. and Active Life Pet Products Inc., to produce and market poultry-based cartilage products that deliver a natural source of glycosaminoglycans, including chondroitin sulfate and glucosamin. In recent studies, products containing chondroitin sulphate, flucosamin, hyalunronic acid, and cartilage matrix have been proven to reduce joint inflammation in humans and animals and possibly aid in the regeneration of bone cartilage tissue.
Annual sales of arthritis and joint pain-related supplements are estimated at more than $750 million. Glucosamine-chondroitin products reached more than $365 million in sales at a growth of 14.2 percent over last year.
Third quarter earning estimates for Tyson, released July 10, state that Tyson expects earnings per share for the quarter that ended June 28 to be in the range of 19-22 cents.
The firm also announced on June 11 the appointment of Kevin J. Igli as Chief Environmental Officer. The newly created position comes after a $7.5 million agreement reached on June 25 between Tyson and the U.S. Department of Justice, the state of Missouri and the Environmental Protection Agency. The resolution involved a 2001 incident involving untreated wastewater that entered Tyson’s Sedalia, Mo. facility’s storm water discharge system.