pork processor smithfield to divest european business
2024-08-31
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beijing news (reporter wang siyang) on august 27, us time, pork processor smithfield foods announced on its official website that it would divest its european business. after the split, smithfield foods and its european company morliny foods will still be subsidiaries of wh group.
shane smith, president and ceo of smithfield foods, said: "now is the right time to establish our north american and european businesses as independent businesses to execute different strategies in different market environments and opportunities. this will provide our respective management teams with more decision-making flexibility and optimize the performance and prospects of each business."
according to the information, smithfield foods is a wholly-owned subsidiary of wh group, a hong kong-listed company. on july 15, 2024, wh group announced that it had recently submitted an application to the hong kong stock exchange, proposing to spin off the smithfield foods business in the united states and mexico so that it could be independently listed on the new york stock exchange or nasdaq stock market.
editor: guo tie
proofread by mu xiangtong
