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His son, Joseph W. Luter IV, became an executive vice-president of Smithfield Foods in 2008 and president of the Smithfield Packing Company, by then the parent company's largest subsidiary. [24] He resigned in October 2013. [23] At that point his stock was valued at $21.1 million and Joseph W. Luter III's at $30 million. [25]
The deal was the largest ever takeover of a U.S. company by a Chinese company, [3] roughly doubling the number of US jobs tied to direct investment by China. [6] Smithfield ceased to be publicly traded at the deal's completion. [3] In July 2013, Shuanghui announced its plan to list Smithfield on the Hong Kong Stock Exchange after completing the ...
Chief executive C. Larry Pope said at that time that he hoped Maxwell Farms would spend more on the company's facilities and marketing. A decision had to be made whether to buy Maxwell's share or sell Smithfield's. On September 10, 2010, Smithfield announced the sale of its 49 percent share of Butterball for an estimated $175 million.
Starboard, which owns 5.7% of Smithfield's stock, says that it is "not necessarily" opposed to the proposed sale of Smithfield, but that the investment firm believes Smithfield can get a better deal.
The acquisition of Smithfield Foods by Chinese meat producer Shuanghui International Holdings received clearance from the Committee on Foreign Investment in the United States, the two companies ...
Smithfield Foods (NYS: SFD) lit up Wall Street with record quarterly earnings boosted by strong demand for pork. In spite of high raw material costs, the company managed to top Wall Street estimates.
In 1968 Wan Long started work for Luohe Meat Products Processing United Factory, and became the factory's general manager in 1984. [3]Wan Long is the chairman of WH Group, the world's largest pork company, with subsidiaries including Smithfield Foods in the US. [2]
The Smithfield Packing Company sells meat products such as ham, ground pork, pork chops, bacon, and lunch meat. It sells its products worldwide. The company was founded in 1936. It is based in Smithfield, Virginia. It is part of Smithfield Foods which is in turn a subsidiary of WH Group. [1] [2] [3]