I been on the research to find out about companies who are owned by China. And the most interesting thing is the Smithfield Foods Plants are owned by China!!! Why hasn’t this been a major headline? It’s because they don’t want to let you know that China is in control of our supply chains, that’s why were noticing shortages and problems in our stores. It’s not about coronavirus; it’s a control mechanism by China and the deep state to destroy America as we know it! So here is some interesting information about Smithfield plants which have been in the nonstop coverage by the mainstream news: They haven’t mentioned this interesting fact!
About Smithfield Foods:
Smithfield Foods, Inc., is a meat-processing company based in Smithfield, Virginia, in the United States, and a wholly owned subsidiary of WH Group of China. Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and pork producer in the world. In addition to owning over 500 farms in the US, Smithfield contracts with another 2,000 independent farms around the country to grow Smithfield’s pigs. Outside the US, the company has facilities in Mexico, Poland, Romania, Germany, and the United Kingdom. Globally the company employed 50,200 in 2016 and reported an annual revenue of $14 billion. Its 973,000-square-foot meat-processing plant in Tar Heel, North Carolina, was said in 2000 to be the world’s largest, processing 32,000 pigs a day.
Then known as Shuanghui Group, WH Group purchased Smithfield Foods in 2013 for $4.72 billion. It was the largest Chinese acquisition of an American company to date. The acquisition of Smithfield’s 146,000 acres of land made WH Group, headquartered in Luohe, Henan province, one of the largest overseas owners of American farmland.
Smithfield is a supplier of heparin, which is extracted from pigs’ intestines and used as a blood thinner, to the pharmaceutical industry. In 2017 the company opened a bioscience unit and joined a tissue engineering group funded by the United States Department of Defense to the tune of $80 million. According to Reuters, the group included Abbott Laboratories, Medtronic and United Therapeutics.
About WH Group:
WH Group, formerly known as Shuanghui Group is a publicly traded Chinese meat and food processing company headquartered in Hong Kong. Sometimes also known as Shineway Group in English-speaking countries, the company’s businesses include hog raising, consumer meat products, flavoring products, and logistics. It is the largest pork producer in the world, and the largest meat producer in China.
The company holds more than 500 patents and produces 1,000 products.
On 29 May 2013, Shuanghui announced its intention to buy Smithfield Foods for $34 per share, or about US$4.72 billion total. Including assumed debt, the total value of the deal was about $7.1 billion. The agreed purchase price represented a 31% premium over Smithfield’s market price at the time when the deal was announced. The two sides negotiated for four years prior to their agreement.
Before it was finalized, the deal had to be approved by Smithfield shareholders and the Committee on Foreign Investment in the United States. It was ultimately approved by Smithfield shareholders on September 24, 2013, and the merger was to be completed two days later.
Smithfield CEO Larry Pope stated the deal would “[preserve] the same old Smithfield, only with more opportunities and new markets and new frontiers.” No Chinese pork would be imported to the United States, he stated, but rather Shuanghui desired to export American pork. There is a growing demand for foreign food products in China due to recent food scandals. Smithfield’s existing management team would remain intact and no major changes to its workforce would occur. Analyst Derek Scissors said companies such as Shuanghui are “not looking to cause any trouble in the American market …They want to gain from what the U.S. is able to do.” China has been a net importer of pork since 2008.
In July 2013, Shuanghui announced its plan to list Smithfield on the Hong Kong Stock Exchange after completing the takeover. The IPO was expected to see the firm valued at around $4 billion. However, the IPO plan was ultimately scrapped in 2014.
In 2016, WH Group’s profits increased by more than 17 percent. This increase in profitability was primarily driven by expansion of Smithfield Foods.
In 2016, Smithfield Foods acquired California-based Clougherty Packing from Hormel Foods for $145 million. Numerous brands were included in the acquisition such as Farmer John and Saag’s Specialty Meats. Clougherty had a large selection of pork products and a large sales network in the southwestern United States. Smithfield also acquired hog farms in Arizona, California, and Wyoming as part of the deal.
In 2017, Smithfield Foods acquired the remaining 66.5% of the equity in Pini Polonia. After the acquisition, it became wholly-owned by Smithfield Foods. Pini Polonia has a slaughterhouse in Poland. The firm also has facilities in Italy and Hungary. The deal included the acquisition of Pini Polska, Hamburger Pini, and Royal Chicken. The price paid was not disclosed.
In late March of 2020, WH Group announced that the spread of COVID-19 had a very limited impact on its operations and sales in both the United States and China. The company said “95%” of its operations were back to normal
COVID Smithfield Outbreak Info:
In mid-April 2020 the Smithfield plant in Sioux Falls, South Dakota became a “hotspot” for the COVID-19 pandemic, with 300 of the plant’s 3,700 employees testing positive for the disease. On April 12 the company announced the indefinite closure of the plant, which processes 4 to 5 percent of the pork products in the United States. Kenneth Sullivan, president and CEO of Smithfield Foods, said the closure of this and other meat processing plants “is pushing our country perilously close to the edge in terms of our meat supply.” By April 14, 438 workers in Smithfield’s Sioux Falls plant were confirmed to be infected with the coronavirus, with Sullivan stating, “We have to operate these processing plants even when we have COVID.” On April 15, the company announced the closure of a plant in Cudahy, Wisconsin that makes bacon and sausage, and a plant in Martin City, Missouri that makes hams. Both plants were dependent on the Sioux Falls slaughterhouse. Employees in both facilities had tested positive for coronavirus, and by April 15, 28 workers at the plant in Cudahy had tested positive. By April 17, the Sioux Falls outbreak had grown to 777 cases, of whom 634 were Smithfield employees and 143 were other people who got infected after contact with a Smithfield employee.