Tyson Foods, Inc. : Tyson Foods Preparing for Growth
03/07/2012| 03:49pm US/Eastern
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NEW YORK, March 7, 2012 (GLOBE NEWSWIRE) -- Donnie Smith,
president and chief executive officer of Tyson Foods, Inc.
(NYSE:TSN), today told the Goldman Sachs 16th Annual
Agricultural Biotech Forum that Tyson is in an enviable
position in the industry due to its strong balance sheet.
"It gives us options," Smith said, "and that
includes building out our foreign operations. We're
establishing company-owned chicken farms in China to supply
our three plants, and we're also double-shifting our
plants in Brazil. Domestically, we'll use our capital to
grow our prepared foods business, and that could mean
building or buying, depending on our needs and the
opportunities available. We'll continue reinvesting in
our business, which has put us in a great competitive
position. We also will maintain our focus on product
innovation and adding value to chicken as we help our
customers grow their businesses."
Noel White, senior group vice president of Tyson's fresh
meats division, said he expects the company's pork
margins to remain strong while its beef margins should
improve throughout the year following a period of margin
compression.
"We originally expected to see a 1-2% decrease in
available cattle in 2012, but because fewer head were
processed during this recent period of margin compression, we
anticipate the availability of fed steers and heifers to be
adequate or even greater for the balance of our fiscal
year." White added that Tyson's beef processing
plants are located in the regions with the highest
concentrations of fed cattle, which contributes to the
company's competitive cost structure.
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN), founded in 1935 with
headquarters in Springdale, Arkansas, is one of the
world's largest processors and marketers of chicken, beef
and pork, the second-largest food production company in the
Fortune 500 and a member of the S&P 500. The company produces
a wide variety of protein-based and prepared food products
and is the recognized market leader in the retail and
foodservice markets it serves. Tyson provides products and
services to customers throughout the United States and more
than 130 countries. The company has approximately 115,000
Team Members employed at more than 400 facilities and offices
in the United States and around the world. Through its Core
Values, Code of Conduct and Team Member Bill of Rights, Tyson
strives to operate with integrity and trust and is committed
to creating value for its shareholders, customers and Team
Members. The company also strives to be faith-friendly,
provide a safe work environment and serve as stewards of the
animals, land and environment entrusted to it.
The Tyson Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3224
Forward Looking Statements
This release includes forward-looking statements as well as
historical information. These forward-looking statements may
include statements relating to domestic and international
growth and cattle supplies. Actual results may vary.
Factors that could cause actual results to differ from
those in the forward-looking statements include, but are not
limited to: consumer demand and perceptions; the availability
of raw materials; customer requests and requirements; and the
ability to compete in products and prices in a competitive
industry.
CONTACT: Jon Kathol, 479-290-4235
Image: Tyson Foods, Inc. Logo
Tyson Foods, Inc.
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