NASDAQ OMX

Smithfield Foods Completes Acquisition of Pini Group's Packaged Meats Companies

1.6.2017 14:00 | NASDAQ OMX

Dela

SMITHFIELD, Va., June 01, 2017 (GLOBE NEWSWIRE) -- Today, Smithfield Foods, Inc. announced the completion of its acquisition of Pini Group's packaged meats companies in Poland. These companies will be operated by Animex Foods, one of the largest food producers in Poland and part of Smithfield Poland, which is owned by Smithfield Foods. The acquisition includes Pini Polska, a meat processing and packaging plant; Hamburger Pini, a case ready meat plant; and Royal Chicken, an investment project currently in development.

"This acquisition aligns with Smithfield's strategic growth plans by strengthening our vertically-integrated supply chain in Poland and increasing our production of high-quality packaged meats products. It also capitalizes on existing opportunities for us to expand in areas with very attractive market dynamics and to develop scale over time," said Kenneth M. Sullivan, president and chief executive officer of Smithfield Foods. "This is a win-win for Smithfield, as well as Poland's agricultural industry. This move will help the Polish meat industry become more competitive across European and international markets."

Smithfield Poland will now employ nearly 9,240 people, including approximately 240 former Pini employees, which will solidify the company's position as the largest employer in the Polish food industry.

The closing followed approval from the Office of Competition and Consumer Protection (UOKiK) in Poland and completion of due diligence. As per the agreement, transaction details such as purchase price and terms will not be disclosed.

About Smithfield Poland
Smithfield Poland operates Polish food companies including Animex Foods, Agri Plus and Agri Plus Feed. Employing 9,000 people and working with more than 2,300 hog farmers, Smithfield Poland controls the entire food production process "from farm to fork." Smithfield Poland is owned by Smithfield Foods, Inc., which is a subsidiary of WH Group, a Hong Kong-based and publicly traded company with shareholders around the world.

About Smithfield Foods
Smithfield Foods is a $15 billion global food company and the world's largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including Smithfield(R), Eckrich(R), Nathan's Famous(R), Farmland(R), Armour(R), John Morrell(R), Cook's(R), Kretschmar(R), Gwaltney(R), Curly's(R), Margherita(R), Carando(R), Healthy Ones(R), Krakus(R), Morliny(R) and Berlinki(R). Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental and food safety and quality programs. For more information, visit www.smithfieldfoods.com.

Contact:
Keira Lombardo
Smithfield Foods, Inc.
(757) 365-3050
klombardo@smithfield.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Smithfield Foods, Inc. via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Skriv in din e-postadress så får du ett mejl när vi har något nytt att berätta.

Senaste nyheterna från NASDAQ OMX

Forterra Announces Definitive Agreement with Thompson Pipe Group26.6.2017 14:00Pressmeddelande

Thompson Pipe Group to Acquire Forterra's U.S. Concrete and Steel Pressure Pipe Assets Forterra to Acquire Thompson Pipe's Drainage Pipe & Products Manufacturing Facility with a Strategic Position in Houston Market IRVING, Texas, June 26, 2017 (GLOBE NEWSWIRE) -- Forterra, Inc. ("Forterra" or the "Company") (Nasdaq:FRTA), a leading manufacturer of water infrastructure pipe and products in the United States and Eastern Canada, today announced it has entered into a definitive agreement to sell the U.S. concrete and steel pressure pipe assets of its Water Pipe and Products business segment to Thompson Pipe Group. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2017.  Under the terms of the agreement, an affiliate of Thompson Pipe Group will acquire assets related to five Forterra manufacturing facilities and a fittings facility. Forterra will receive approximate

Nasdaq Closing Cross Calculates Russell US Indexes Reconstitution for the 14th Consecutive Year24.6.2017 01:52Pressmeddelande

A new record $28.9 billion traded at the closing cross in a Russell reconstitution NEW YORK, June 23, 2017 (GLOBE NEWSWIRE) -- Nasdaq (Symbol: NDAQ) today announced the Nasdaq Closing Cross was used for the 14th consecutive year to rebalance Nasdaq-listed securities in the entire family of  Russell US Indexes, part of leading global index provider FTSE Russell, during its annual reconstitution. More than 972 million shares representing a record $28.9 billion were executed in the Nasdaq Closing Cross in 0.861 seconds across some 2,499 Nasdaq-listed stocks. The previous record for dollars traded at the closing cross in a Russell reconstitution was $21.1 billion in 2015. "For the 14th consecutive year of partnering with FTSE Russell on the rebalance, we witnessed the advanced capabilities and market integrity of Nasdaq's INET technology platform resulting in transparent and efficient price discovery which benefits issuers and investors alike,&quot

LifeSci Advisors' Board Placement Initiative Announces Ninth Board Placement23.6.2017 17:52Pressmeddelande

NEW YORK, June 23, 2017 (GLOBE NEWSWIRE) -- LifeSci Advisors, a leading life sciences-focused investor relations consultancy, announced today the ninth placement of a female executive to a life sciences company board as part of their Board Placement Initiative (BPI), a program launched a year ago with the goal to connect female executives in the life sciences industry with companies looking for board candidates. LifeSci is pleased to share news of the appointment of Jean M. Franchi to the Board of Directors of Biophytis, a biotech company listed on Euronext Paris (ALBPS) focused on drugs that target diseases of aging, with drug candidates in clinical development for dry AMD and Sarcopenia. "I'm honored to join the Biophytis board, and look forward to helping the company achieve a more global presence as it advances its portfolio of innovative therapies addressing unmet needs associated with aging," said Ms. Franchi. "I want to extend my kind thanks to LifeSci

Fentress Architects Announces its Annual Student Global Challenge23.6.2017 09:00Pressmeddelande

6th edition invites students to re-envision the terminal building in the year 2075 Denver, Colorado, June 23, 2017 (GLOBE NEWSWIRE) -- Fentress Architects, based in Denver, Colorado, announces the 2017 Fentress Global Challenge, an international design competition for young and student architects. As in years past, the theme, consistent with the firm's expertise in airport design and aviation, is envisioning an airport of the future.  Participants are encouraged to re-envision the terminal building in the year 2075 using one of 10 existing international airports, taking into consideration local context, technological trends, and project feasibility and passenger experience. This is the sixth year that Fentress Architects has sponsored and administered the award, which brings a First Prize of $15,000 and a summer internship at Fentress' Denver office; four additional winners will receive smaller cash awards.

Oxford Immunotec Announces National Reimbursement for the T-SPOT®.TB Test in France22.6.2017 22:50Pressmeddelande

OXFORD, United Kingdom and MARLBOROUGH, Mass., June 22, 2017 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq:OXFD), a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of underserved immune-regulated conditions, today announced a decision from the French Ministry of Health and Social Affairs to reimburse interferon gamma release assays, or IGRAs, for latent TB screening in at risk patient populations. Upon implementation of the new reimbursement codes, which is expected in the next 21 days, the French Ministry of Health and Social Affairs will provide reimbursement for the T-SPOT. TB  test at a rate of approximately 60 Euros per test. About Oxford Immunotec Oxford Immunotec Global PLC is a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of underserved immune-r

Standard Lithium Raises $7.4 Million in Oversubscribed Financing22.6.2017 21:49Pressmeddelande

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, June 22, 2017 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. ("Standard Lithium" or the "Company") (TSXV:SLL) (FRA:S5L) is pleased to announce that it has completed the private placement of 9,894,785 common shares at a price of $0.75 per share for gross proceeds of $7,421,089.  Interest in the placement far exceeded the expectations of the Company, and the additional amount raised provides the Company with the capital needed to advance its current projects and pursue strategic acquisitions in the lithium sector. "We are extremely pleased with the interest received in this placement, and completion represents a significant milestone for the Company," commented Anthony Alvaro, a director of the Company.  "The strong demand speaks to the growing confidence in our team, projects and futur

I vårt nyhetsrum kan du läsa de senaste nyheterna, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt nyhetsrum