Smithfield closes Innovation Group
Story Date: 1/14/2009

  Source:  Lisa M. Keefe, MEATINGPLACE.COM, 1/14/09

Smithfield Foods has closed its unit dedicated to developing new products for the company's customers, the company said.

The Smithfield Innovation Group, created in 2003 when Smithfield bought the Global Culinary Solutions consultancy, was shut down in December, and its Web site taken down. Five people reportedly were employed in the unit, including Chef Michael Formichella.

In a statement, Smithfield said that closing the Innovation Group "was one of many recent cost-reduction efforts." It said that new product development has been moved to the independent operating company level, and that "new product development activity [is] continuing at its usual pace."

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