Tar Heel reacts as Smithfield shareholders approve sale to Chinese

Tags: , , , ,

Submitted: Tue, 09/24/2013 - 9:24pm
Updated: Tue, 09/24/2013 - 10:12pm

TAR HEEL, NC (WWAY) — Shareholders have approved the sale of Smithfield Foods to a Chinese company. The buyout comes amid food safety problems in China, and its impacts could be felt in our area.

As the sale of Smithfield Foods to Shuanghui International Holdings, the largest meat producer in China, moves forward, Smithfield workers at the world’s largest pork processing plant in Bladen County are weighing in.

Smithfield Foods employee Adrian Peterson says he is looking forward to the merger.

“I think it’s a good thing, because it’s guaranteed no closures in the state of North Carolina,” he said.

He says this buyout is just what the doctor ordered.

“That’s what we need: some kind of security for us jobwise,” Peterson said.

While some employees say they don’t mind the merger, one man says he does not like the idea of a Chinese-based company taking over.

“It just bothers me that a company like that that’s already in the United States, you know, built by the United States people, that it would end up going to another country, owned by another country,” said William Thompson, whose brother has worked at the Smithfield plant in Tar Heel for nearly five years.

Thompson says he’s concerned that this merger could cost some in Bladen County their jobs, but employee Christopher Fields says he feels neutral toward the buyout, because he’s been told there will be no changes.

“They say it ain’t going to be no changes, so hopefully there won’t be no feelings, as long as nothing don’t change,” he said.

Peterson agrees. He says he is not worried about losing his job.

“I’m secure,” he said. “Yeah, I’m secure.”

The deal is expected to close by the end of the year. Once complete, it will be the largest takeover of a US company by a Chinese firm, valued at about $7.1 billion, including debt.

Leave a Reply

26 Comments on "Tar Heel reacts as Smithfield shareholders approve sale to Chinese"

2015 years 8 months ago

First they stop their business with Paula Deene over nothing and now sell to foreign investors. OK Hormel here I come.

2015 years 8 months ago

For what it’s worth, from this day forward, I will buy no more Smithfield products. That’s all I can do, but, I can do that!!

2015 years 8 months ago

I’ve worked for a company before that got sold. The buyers made guarantees that they did not carry out. I pray that these people do not lose their jobs.

beach guy
2015 years 8 months ago

How many of these commentators own a Chevrolet this company is partially owned by foreign investors and is building plants in china which are in partnership with the Chinese government? How many of you drive a dodge they are owned by Fiat and the UAW thanks to our government. This is the reality of a global economy that has been thrust upon us by our elected leaders. If you have not realized it yet the folks that have a bunch of money are making a killing on the stock market and the blue collar folks are getting gigged at every turn.
I thought this administrations mantra is that they are the working families friend and that a strong middle class is the backbone of a strong country. my question is why do they prop up the markets with bond buying ,bail out companies building factories in china when the cost of living in this country is going through the roof. I am not talking about housing which is another debacle brought about by governmental controls but the every day Items we need to survive food prices have doubled in five years gasoline is at a steady $3.40-50 a gallon electricity is going up water and sewer is as high as it ever has been more people below the poverty line since the thirties.
Something has to change or the whole country will be owned by foreign investors it used to be the oil sheiks buying everything in sight then it was the Japanese and now the Chinese Americans cannot go to these countries and buy their factories or even own businesses.
The government is allowing a fire sale of every industry in this country all for the sake of money and I for one am not seeing a dime of it.
My message is do not support companies that sell out to foreign governments or have majority of foreign stock holders that means stop drinking AB products since they are owned by a conglomerate in Brussels do not buy gas at a BP (British) or a Citgo (Venezuela) if the people that own the gas station want to sell gas let them buy is from an American company. Also stop these idiotic farm subsidies that is why milk is $4-$5 bucks a gallon do you really think we do not have enough cows to supply milk? And with corn $9 bucks a bushel I think that they can take care of themselves. And folks small farmers get no subsidies it is the large corporate farms that clean up.
people like David Letterman and the Rockefeller family get millions upon millions in subsidies every year and do not produce a thing think about it. Why do you think they are on the big government band wagon?
Folks need to stop watching reality shows and American Idol and figure out what is really going on honey boo boo is not going to get your kids a better life than what you have had.
And is that not the American Dream.

2015 years 8 months ago

“The buyout comes amid food safety problems in China”. what a joke!! My family will no longer eat this meat either. China has, as the news story says, food safety problems.
No thanks. let the greedy seller eat China’s meat. we won’t.