Smithfield Foods, the world's largest pork processor and hog producer, CEO and president C. Larry Pope testified before the United States Senate Committee on Agriculture, Nutrition and Forestry to review the benefits of the Shuanghui-Smithfield transaction for US pig producers.
Touted as an increased opportunity for US pig producers and agriculture, Pope explained the combined company's commitment to continuing to work with American producers and suppliers that have played an integral role in Smithfield's success.
"With respect to agriculture, we expect this transaction to drive growth and expansion not only for our growers, but for the entire U.S. pork industry," says Pope. "Smithfield Foods owns over 400 hog farms and has contracts with more than 2,000 family farmers across the country. Our agreement with Shuanghui will maintain all of these contracts and arrangements. Moreover, this transaction creates a terrific opportunity through growth in exports for U.S. hog farmers to expand production to meet the growing Chinese demand."
"Shuanghui intends to retain Smithfield's management team, its plants and its employees," he said. "Shuanghui recognizes Smithfield's best-in-class operations, outstanding food safety practices and 46,000 hard-working employees. There should be no noticeable impact on how we do business operationally in America and around the world as a result of this transaction, except that we will do more of it."