Smithfield Foods Archive

Smithfield Foods dismisses new cancer report on bacon

SMITHFIELD In the no-surprise-here department: A Smithfield exec last week had no kind words for a new study saying that processed meats such as bacon and hot dogs cause cancer.

Smithfield Foods' profits down for third quarter

SMITHFIELD Smithfield Foods Inc. on Wednesday reported a sharp decline in profits for its third quarter, which executives attributed to reduced prices for the hogs sold by the company. Net income totaled $83 million for the quarter, which ended Sept. 27. That was a little more than half of the $155 million profit reported for the third quarter of 2014.

Another Smithfield switch: Dennis Treacy to retire

SMITHFIELD It’s been hard to keep up with all of the management switches at Smithfield Foods this year. Just when you think you’re up to speed, here’s another one: Dennis Treacy, executive vice president and chief sustainability officer, will retire at the end of 2016, the pork company announced last week.

Smithfield Foods names Kenneth Sullivan president

Smithfield Foods' top executive is handing over some of his responsibilities. The pork company announced Thursday that Kenneth Sullivan has been named president and chief operating officer, effective Oct. 1.

Smithfield Foods reports nearly $40 million profit decline

Smithfield Foods Inc. announced Wednesday that its second-quarter profit dropped 27 percent, weighed down by a poor showing in hog farming.
The pork company reported $104 million in income for the second quarter, down from $143 million during the same period in 2014.

Smithfield testing hog manure as tobacco fertilizer

Smithfield Foods Inc. said it is teaming with Tyton BioEnergy Systems, based in Danville, to test hog manure as fertilizer for tobacco plants that will not be used for smoking. The research will occur in Virginia and North Carolina, a news release from Smithfield said. The companies also will try to create ethanol products based on tobacco instead of corn, the release said.

Smithfield sells stake in Campofrio Food Group

The parent company of Smithfield Foods Inc. said Wednesday that it sold Smithfield's stake in one of Europe's largest packaged meats companies.
WH Group, based in China, said it sold Smithfield's interest in Campofrio Food Group to the Mexican company Alfa for $354 million in cash. Smithfield had a 37 percent stake in Campofrio, based in Madrid.

Smithfield Foods partners with N.C. sausage company

SMITHFIELD Smithfield Foods Inc. announced today that it will build a $45 million, 90,000-square-foot sausage plant with Kansas City Sausage LLC near Fayetteville, N.C. The plant will create about 175 jobs, Smithfield said in a news release. The pork company acquired 50 percent of Kansas City Sausage Co. in 2013.

Smithfield is revved up for Indy 500

Start your engines ... and don't forget to eat your bacon. Smithfield Foods Inc., revving up its marketing in auto racing, will be the primary sponsor for Conor Daly's entry at the Indy 500 later this month. Smithfield's logo and the phrase "fueled by bacon" will adorn Daly's sleek blue car.

Smithfield reports decline in first-quarter income

Smithfield Foods Inc. on Wednesday announced first-quarter profit of $97 million - down 8 percent from its record $105 million income for the same period in 2014.

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