Thursday, May 30, 2013

China company buys Smithfield Foods

  Smithfield Foods, the largest US pork producer, is being bought by Chinese company
Shuanghui for $ 4.7 billion. Smithfield owns Armour.

   This is the largest Chinese takeover of any American firm so far, and some are worried about food safety since Shuanghui has been investigated for safety violations in China.

   The Chinese have developed a taste for pork and this is the reason for the purchase.

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