Tyson Foods plans to focus on increasing demand rather than cutting production as a long-term strategy, company executives said Friday.

"We don't plan on cutting production at this point," Interim President and CEO Leland Tollett said during a briefing with reporters following its annual meeting.

Executives were cagey about whether that meant resuming production at pre-December levels when it clears an inventory backlog or maintaining current production levels. Tyson cut chicken production levels by 5 percent in December, as part of the company's ongoing efforts to "match supply with demand."

"We'll make the determination on when we need to change something in our production levels, but it depends on our inventory levels and growing our business," said Senior Group Vice President - Poultry & Prepared Foods Donnie Smith.

The company plans to focus on ratcheting up demand, with an emphasis on fast-growing international markets such as India, and on new product development, particularly in partnership with customers.

"We're focusing on helping customers grow their business and as their business grows our business grows," Smith said.

To that end, Tyson used the occasion to unveil several new products for retail, foodservice and international markets. The new products include:

• A new frozen meal kit for the retail market, called Skillet Creations, that has less sodium than its prior line of meal kits and less sodium than competing brands. Initial products include Asian-style Orange Chicken, Grilled Chicken Fajitas, Grilled Steak Fajitas, Grilled Chicken Tuscany and Penne, and Steak Stroganoff with Noodles.
• New red meat dishes available at retail, including Braised Beef Brisket with Mild Chili Sauce and Pork Loin in Sweet and Tangy BBQ Sauce. The meat is vacuum-sealed and refrigerated, with no added preservatives.
• New offerings for foodservice that look to capitalize on the move toward value, including Homestyle Breaded Value Chicken Tender, Right Size (chicken) Filets, Value Meatball and Shaved Steak Beef.
• For the international market, a fully cooked chicken burger designed for export.

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