Springdale, Ark. – Donnie Smith, president and CEO of Tyson Foods, Inc. (NYSE: TSN), today announced the company has made capital investments of more than $40 million in four of its plants that could create as many as 490 jobs. Expansion projects are under way at plants in Sherman, Texas, and Goodlettsville, Tenn.; an expansion in Glen Allen, Va., was recently completed; and The Bruss Company, a subsidiary of Tyson Foods, recently opened for business in Jacksonville, Fla.
Both the Texas and Tennessee plants produce case ready beef and pork, meaning the meats are cut, packaged and made ready for retail grocers to place directly into the meat case. The plant in Virginia makes rotisserie chickens, breast filets, tenders and thighs for national foodservice customers. The Bruss Company is a manufacturer of portion-controlled steaks and chops for the foodservice industry.
“These are major investments we believe will help us maintain our position as a leader in the case ready business at two strategic locations, and in chicken and steaks with some of our key foodservice customers,” Smith said. “All of these are prime locations because of the existing facilities and access to an excellent workforce.”
The Goodlettsville and Sherman locations will involve the installation of new equipment and production lines as part of Tyson’s strategic effort to meet customer demand for case ready beef and pork. Expansions, equipment installations and hiring for the new positions are expected to be complete by the end of April.
The Goodlettsville, Tenn., plant, where Tyson anticipates investing $7.7 million and hiring as many as 100 new people, produces pork cuts, ground beef products and beef cuts, including closely trimmed steaks, chops and roasts.
The Sherman, Texas, plant produces beef, ground beef and pork products, including closely trimmed steaks, chops, roasts and spareribs. Tyson anticipates hiring about 70 new workers and investing $5.6 million there.
Each of the case ready plants employs about 1,500 people. The Goodlettsville plant had a 2012 payroll of more than $45 million and the Sherman plant had a 2012 payroll of more than $49 million.
“Tyson continues the strategy of adding value to our commodity products for retail customers and consumers,” said Gary Sheneman, senior vice president of case ready beef and pork. “We’re pleased to be able to create jobs in both cities. They’ve been great supporters of Tyson Foods throughout the years.”
Tyson operates a third case ready plant in Council Bluffs, Iowa, which produces case ready beef and pork; ground pork; ground chicken; beef, pork, and chicken meal kits; vacuum-packed beef; and vacuum-packed retail steaks.
Expansions at the poultry plant in Glen Allen, Va., which were completed in late 2012, involved the installation of new equipment which will increase the ability to produce more food. Tyson spent more than $14 million and is in the process of hiring about 120 additional people. The plant currently employs about 640 and had a payroll of more than $23 million in 2012.
“The strategic location, local tax structure and available workforce made the decision to expand in Hanover County, Virginia an easy choice,” said Tommy Waters, manager of the Glen Allen complex.
The Bruss Company, which is based in Chicago, bought a 47,000-square foot processing facility in Jacksonville, Fla., last year. The company spent $13 million on equipment and renovations, and plans to eventually employ as many as 200. The annual payroll, once the facility is running at full capacity, is expected to be approximately $8 million. More than 50 people are employed there now.
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 approximately 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.
Forward Looking Statements
Certain information contained in the press release may constitute forward-looking statements, such as statements relating to anticipated capital investments or employment. These forward-looking statements are subject to a number of factors and uncertainties which could cause our actual results and experiences to differ materially from the anticipated results and expectations expressed in such forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. Among the factors that may cause actual results and experiences to differ from anticipated results and expectations expressed in such forward-looking statements are those factors listed under Item 1A. “Risk Factors” included in our September 29, 2012, Annual Report filed on Form 10-K.
Source: Tyson Foods, Inc.
