Smithfield agrees to sale to Chinese firm

TAR HEEL, NC (WWAY) -- Bladen County is the home to the world's largest slaughter house. Soon it could be owned by a foreign company.

Smithfield Foods has agreed to sell to Chinese meat processor Shuanghui International Holdings Ltd. for $4.7 billion.

Smithfield runs the largest slaughterhouse and meat-processing plant in the world in Tar Heel.

The Wall Street Journal reports the purpose of the deal is to export more of Smithfield's meat to China, which is the world's biggest pork market.

Virginia-based Smithfield employs more 10,000 workers in North Carolina alone.

Smithfield Foods says there will be no closing of any facilities and employees will stay in place.

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WE DON'T THINK AS AMERICANS AT TIMES. SMITHFIELD PACKING COMPANY HAS PROBLEMS IN THEIR COMPANIES NOT JUST TAR HILL WITH THE FIGHTING. THE COMPANY IN CLINTON NC DON'T HAVE A UNION AND THEY FIGHT THEIR ALSO. THE WORKER THEIR ARE TREATED BADLY.SO THEIR ARE A-LOT OF FAMILIES THAT ARE HAVING PROBLEMS.PEOPLE THAT WORK IN THE CLINTON PLANT SOME DON'T EVEN GET PAID WHAT THE RIGHT PAY RATE FOR THE JOB THEY DO.SO MAYBE THIS IS GOOD FOR THE COMPANY THE WORKERS MIGHT GET TREATED BETTER GET THE PAY THEY SUPOSE TO HAVE.THE COMPANY IN CLINTON HOLDS PEOPLE BACK.TELL ME WHY A COUPLE OF MOUTHS AGO THE CLINTON PLANT WORK EVERY SATURDAY FOR 3MTHS AND THE TAR HILL COMPANY WAS OFF? WHY DOES THE TAR HILL COMPANY AND OTHER HAVE UNIONS AND THE CLINTON PLANT DON'T?

just what this place needs more pig waste going on the farms and into the water .mumm mum that hog waste water in the ground sure is nice and the smell from smithfield and the hog farms is heaven . gives me a good headache and a fresh new batch of sores from the well water. to hell with the people who live here is the way

The real problem with this sell is that you will find that smithfield may own most of the hog farms in north carolina.
not only are they buying the plant they are buying the hog farms.
That in turn would mean that the hog farmers would not be able to sell to other us companies.NOT GOOD PEOPLE!

Buy "NEESE'S products they are much better anyway, always have been.

Don't like to support a Chinese-run conglomerate? Solution: buy locally produced, fresher, safer produce and meat.

Carolina Farmin', Lovey's, and Tidal Creek Co-op are all out there as alternatives! We still have a choice in America...for now, at least!

We've been buying Chinese made products for years and years in this country...what's one more item on the list?
One thing though...hope their pork is better than the "Brand New Toilet" I just purchased and had installed that leaks from the tank...right beneath the words..."Made in China"! If that isn't a promotional plug...I don't know what is.

Is it the Crappy Crapper model?

it are being paid with money we borrow from China to run our federal government aren't they? I'm joking of course and really I wouldn't sweat it actually. Considering that we're cutting our military; the majority of voters who will dominate national elections from here on don't care about issues such as unemployment rates, inflation, national security, etc...they only care about what our country can do for them, not what they can do for our country; we're massively in dept to China and eventually we'll bounce that credit card payment. I can't imagine any outcome other than the US eventually being a colony of China so they're probably just moving a few things over before they settle in.

I don't like the idea of this sale under any circumstances. Smithfield Foods is the worlds largest pork producer and it doesn't belong in the hands of any other nation including China. I have been involved with several international companies acquiring partial and total interest of American companies. On a small scale I haven't seen much harm. However when we think about a complete management shift from American to Chinese in all the key positions, it could become a national security issue. Keeping our national food supply both strong and safe is vital and does't compare to letting a Korean company run a copy machine factory.
I think it would make more sense for Smithfield to joint venture with the Chinese, share technologies and maybe an American facility that would have but one goal, to improve supply to china. The feds are going to have some hard questions for Smithfield. I hope?

- "it doesn't belong in the hands of any other nation" - Why? Because it's pig meat?
- "a complete management shift from American to Chinese in all the key positions" - Haven't seen that ever happen with any significant foreign investor. Like any other foreign investor, they know that experienced managers will make a profit for them.
- "it could become a national security issue" - More than selling all of that debt to China in the first place to pay for continued spending on all of those feel good projects you always seem to be advocating? Maybe the real issue is all of that spending.
- "Keeping our national food supply both strong and safe is vital" - Dude, the food would still be in America until we ship it elsewhere. We control it. Duh!

Stop being such a freaking hypocrite! You, personally, are an advocate of liberal tax and spend policy. In order for that to work, you have to acquire debt. Other countries sometimes invest in that at a profit. They then sometimes invest those profits in American businesses. Now that that's occurred in your own backyard, you have a problem with that.

The problem started originally with tax and spenders like yourself. Start complaining to your mirror. That's where the problem really is.

The sky is falling! The sky is falling!

No it's not. It'll be business as usual except that a Chinese company will own the place. They'll probably even do better than before by opening a new market of pork products in China. That's more NC pork being sold to a pork processor that's selling more pork. That's a problem?

Some of you seem to be suffering from knee-jerk naiveté today. Oh my, it's China buying our companies! I don't recall seeing that reaction when foreign companies purchased Miller and Anheuser-Busch (yep, not American anymore and yet a ton of people are still drinking those beers!). I don't recall seeing that reaction when America started selling a large portion of its debt to China so that we could keep spending irresponsibly. We seem to have no problem buying cheaper Chinese-made products instead of American ones. What a bunch of hypocrites!

Some of the sillier (as in dumb) posts I read:
- "our government give away everything our veterens fight so hard for"
- "the price of pork will skyrocket all the while the waste from the production of the livestock will pollute us soil not china"
- " now we have to watch for poisoned meat in our local pork"
- "I will not buy from Smithfield. Hams, chicken or anything else if I know it comes from china"
- " I'm sure China will be more than willing to bring their outstanding environmental practices to our country"

Exclusive of the fact that so many of you can't even put a sentence correctly together anymore (which is something we all really should worry about), a lot of these posts don't even begin to make sense.

If you're really worried about our country, start electing better politicians. Start telling our government to stop spending so much money that we have to sell our debt to other countries.

If all you're going to do is carp about some foreign company buying an American business, you're just wasting everyone's time with useless blather

I agree with you, but just want to expound on a couple of points. As far as the hog waste being on our soil, it's there already.

And unless I am mistaken, unlike the Chinese made products with the lead paint, the meat will be subject to USDA inspection since it is being processed on US soil.

If we refrained from buying things from China, we would hardly be buying anything. I am all for supporting US made products, but it is not really financially feasible.

You are right about what it will take to make this country what it should be. The citizens need to vote in the right officials. And that is a major undertaking since so few currently in office are right for the job.

If Smithfilld was sold during a "fire sale" would we now have barbeque?
Seriously this "sale" does nothing more than opens a huge new market for Smithfield products. There may in fact be pork shortages because of it.
This will drive up pork pricing.
But Smithfield is gearing up their new slaughterhouse in Kinston.
But I wonder about the hog farms.
They are right now throttling back on birthing of pigs so as to not outpace the production capabilities of Tarheel (they are permitted to slaughter 32,000 hogs per day currently).
I would guess that the only thing that could make them cut back on hog production in the future is lack of feed grains which they are now importing in large quantities through the ILM state port facility.
It's an interesting situation and a dangerous one if world grain crops get hit with drought.
I just happen to believe that SE NC will become hog farm heaven - yeah I know it seems that way now but........
Vog

Well said. Foreign companies have been buying American companies
for years. Try to buy American made products when you can, even if
it costs a buck or two more. I always look at the label for the origin of the product and it is getting harder to find American made
products. Be aware of the packaging with the American flag on it that
says, Engineered in the USA. In most cases, if you look closer, you
will see Made in China.

Ya'll should be glad we got Chinese money coming INTO the US, instead of the usual US money going OUT to China. How many of you have been yelling about US jobs and manufacturing being shipped overseas? Well, guess what, this is the opposite of that.
And the same USDA people will be inspecting the plants that inspected them when the domestic yahoos owned it - not that that's necessarily a good thing, but it ain't a change. What, you think the Chinese owners are bringing in their own Chinese inspectors?
Jeez, some of you are so eager to clamor about Chinese this and that, you don't take the time to think about the real implications. This is billions of Chinese dollars entering out economy, rather than the usual US dollars leaving our economy. Think, people.

I had an aunt who raised chickens (40,000 at a time) I have been to hog farms and beef feed lots. No thanks! I stick to seafood I catch myself and occasional poultry from small farms that I know.

It's those hog farms and feed lots that deliver protein to the world. It's the efficiency of American farmers that instead of the old days where the statistic was like 1 in 7, a modern farm feeds something like 1 in 25 - 40.

We export food. How else are you going to feed 6 billion people, many of whom do not live on sustainable lands? Your statement if you didn't kill it, don't eat it...shows a fundamental ignorance of economics, and market efficiencies.

I guess we all just need to start brushing up on our Chinese. China's going to own us all and we all are going to do sit on our lazy behinds and watch our government give away everything our veterens fight so hard for. This is real news. They might not fire anyone but they will cut wages. Wake up people

The reality of this is that the Chinese company is partially owned by the Chinese govt therefore the Chinese govt is buying a Us plant with our money visa vie the interest we pay on money borrowed from them.
Also the price of pork will skyrocket all the while the waste from the production of the livestock will pollute us soil not china were the products is consumed. And by the way there goes my business no more Smithfield products for my house.

We all know the harm hog lagoon runoff has caused our rivers. I'm sure China will be more than willing to bring their outstanding environmental practices to our country.

I've had about a pork belly full of China. I'm finished now with Smithfield products. I know people are gonna say things like, "You don't like it then don't buy it". Well, I don't like it and I'm not going to buy it.

I believe what is going to happen is a huge increase in pork production to include from their new slaughterhouse in Kinston, NC.
They will need refrigeration space at the state ports and refrigerated containers for transport of this pork to China.
I think the number of hog farms could double, easily

Vog

Even more reason to stop eating meat!

Great - now we have to watch for poisoned meat in our local pork.

...for lead.

John, while I'm no great fan of foreign takeover of US businesses I am not worried about Chinese acquisition of Smithfield. Here's a little item about some Chinese managers from several years ago involving tainted infant formula: http://www.cnn.com/2009/WORLD/asiapcf/11/24/china.milk.execution/

Now even our Christmas ham will come by way of China.
What is happening to the U.S.?

Thank NAFTA....The Clinton Administration was the greatest. (gagging)

Get a map.
Last time I checked China was NOT in North America.
You know the NA part of NAFTA?

Vog

Solution: I'm changing to Oscar Meyer. Its owned by Kraft Foods, an American company! Christmas hams? Their are other American brands (Boars Head, Hillshire). The Chinese want Smithfield brand products to sell there simply because they trust American made products, especially food. So one major ramification of the sale will be increased pork prices for the United States. BUY AMERICAN MADE!