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Source: Dominique Patton, REUTERS, 11/27/17
China pork producer WH Group is dialing back growth hopes for its U.S. unit Smithfield in the mainland amid weak demand, with a new plant there operating at just a third of capacity and plans for another factory postponed, group executives said. WH Group, the world’s biggest pork producing company, bought top U.S. pork producer Smithfield in 2013 for $4.7 billion, at the time the largest takeover of a U.S. company by a Chinese buyer. For more of this story, click here.
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