ASIA – American multinational corporation Tyson Foods has announced plans to build new production facilities in China and Thailand in an effort to boost its international production operations.
In the same vein, the American food giant also plans to inject funds into the expansion of its existing factory in the Netherlands.
These production expansions will reportedly add 100,000 metric tonnes of fully cooked poultry capacity, enabling the company deliver on its global growth strategy of serving emerging markets and strategic customers.
According to Tyson, the new plant in China is expected to create more than 700 jobs and the European expansion will add more than 150 jobs.
Meanwhile, the construction of the plant in Thailand forms part of a long-standing joint venture with GFPT Public Company Limited, and is expected to create over 1,000 jobs.
Tyson Foods recently launched the Tyson brand into key markets including in European food service and in Thailand retail through e-commerce.
The company also invested in e-commerce platforms in Malaysia and Australia to meet consumer demand as Covid-19 accelerates e-commerce food delivery across the globe.
In the 2019 financial year, Tyson generated US$5.4 billion in international sales – including US export sales.
Recent acquisitions and joint venture agreements have seen the multinational food company expand its footprint in markets including China, India, Brazil and more.
These expansions have provided Tyson Foods with enhanced access to several global markets.
Dean Banks, president and CEO of Tyson Foods, said: “These investments allow us to increase our in-country operations and global export capabilities, helping us bring more safe, high-quality protein for consumers in these countries as well as for customers in other parts of the world.”
“The marketplace is changing, and we’re changing with it. We’ll continue to enhance our ability to serve growing global demand for value-added protein,” Tyson Foods International president, Chris Langholz, added.
In August, Tyson reported that the disruption caused by the Covid-19 pandemic had created one of the “most volatile and uncertain periods” in the meat industry in recent history, with the company reporting a 7.9% decrease in third-quarter net revenue.
As a result of the weak performance of the company during the pandemic, former CEO Noel White stepped down for his position, and Dean Banks assumed the role as the company’s new CEO in October.
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