Press release from GlobeNewswire (a Nasdaq OMX company)
Smithfield Foods Announces Sale of Texas Hog Production Facility
Wednesday, April 27, 2011
SMITHFIELD, Va., April 27, 2011 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (NYSE:SFD) announced today that it completed the sale of its hog production facility located in Dalhart, Texas to Cargill, Inc. for approximately $33 million.
"The sale of this hog production facility is a further extension of our strategy to reduce exposure to commodity businesses and shed non-core assets," said C. Larry Pope, president and chief executive officer.
The Dalhart facility was previously depopulated in August 2009 as part of the company's sow herd reduction initiative.
About Smithfield Foods
Smithfield Foods is the world's largest pork processor and hog producer, with revenues exceeding $11 billion in fiscal 2010. In the United States, the company is also the leader in numerous packaged meats categories. From national brands and regional powerhouses in the United States to some of the best-known European brands, Smithfield Foods products are prized by retail, foodservice, and deli customers alike. For more information, please visit www.smithfieldfoods.com.
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CONTACT: Keira Lombardo Smithfield Foods, Inc. (757) 365-3050 firstname.lastname@example.org