In this file:
· Betting the Dip on JBS Rewards Fund as Brazil Meat Giant Soars
Strong earnings, bouyant U.S. meat demand drive stock surge
· Organizations press JBS USA to resolve alleged pollution
· Gourmet meat demand boosts domestic sales for JBS’ Friboi
· JBS USA accused of illegally releasing wastewater into Greeley-area waterway
· With Fewer Refugees, Who Will Work At Greeley's Meatpacking Plants?
Betting the Dip on JBS Rewards Fund as Brazil Meat Giant Soars
Capital Group is now the company’s third-largest shareholder
Strong earnings, bouyant U.S. meat demand drive stock surge
By Gerson Freitas Jr, Bloomberg
February 4, 2019
When JBS SA was in the eye of the storm after its leaders confessed to bribery, one fund manager started snapping up slices of the Brazilian meat giant. Now that move is paying off in a big way.
Capital Group Companies Inc., which oversees $1.8 trillion in assets, bought the dip after May 2017’s confessions by billionaires Wesley and Joesley Batista, the brothers who control JBS. Since that time, Capital Group’s holdings in JBS have grown to 8.5 percent from 1.7 percent. That trails only the Batistas and BNDESPar, the investment arm of Brazil’s Development Bank.
Meanwhile, the stock has surged, gaining 59 percent in dollars since Nov. 13 on strong earnings and a reduction in debt levels amid buoyant meat demand in the U.S. The result: JBS was the best security contributor for the Capital Group’s New World Fund among 647 holdings in the fourth quarter.
"JBS has risen on a combination of strong fundamentals and improved governance," said Betina Roxo, an analyst at Sao Paulo-based XP Investimentos, in a telephone interview. "It’s a very solid company, with potential to unlock more value"
Sao Paulo-based JBS, the world’s largest meat supplier, has also spurred optimism it will proceed with an initial public offering in New York after it named a new Chief Executive Officer and Chief Financial Officer in late 2018...
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Organizations press JBS USA to resolve alleged pollution
DENVER – Environmental groups threatened legal action against JBS USA and Swift Beef Co. for allegedly dumping pollutants from processing plants into Colorado waterways in violation of wastewater permits.
In a notice of violations and intent to sue, the Center for Biological Diversity and Food & Water Watch claim that the Lone Tree Wastewater Treatment Plant has illegally dumped 4 million gallons of wastewater each year from two processing plants located along the Front Range at the confluence of the South Platte and Cache la Poudre Rivers. The notice gives JBS USA 60 days to resolve the alleged violations.
Gourmet meat demand boosts domestic sales for JBS’ Friboi
By Ashley Williams, GlobalMeatNews
Brazilian meatpacker JBS has revealed that its Friboi unit has reported a 33% increase in domestic sales for its Maturatta brand during 2018.
JBS said soaring sales in the domestic market were driven by the rise in demand for gourmet meats across Brazil’s major retail chains and was popular during the FIFA World Cup in June and July last year.
Additionally, sales were also strong for the remainder of 2018, following good performances for Father’s Day in August and setting successive sales records from October onwards. It also set a record in December after producing 2,300 tonnes of gourmet meats for the month.
Sales were also boosted after the brand made its debut outside Brazil after securing exports to Angola in Africa during November and December...
JBS USA accused of illegally releasing wastewater into Greeley-area waterway
Environmental groups claim meat processor is violating limits on release of wastes
By Judith Kohler, The Denver Post
February 1, 2019
Slaughterhouse waste dumped into a Greeley-area creek by meat processing giant JBS USA has exceeded for years the levels allowed under a state permit, say two environmental organizations who plan to sue the company.
The company has a permit from the state to discharge from its wastewater treatment plant near Greeley, but has violated the permit’s terms by repeatedly surpassing federally allowed limits for the pollutants, the Center for Biological Diversity and Food & Water Watch wrote in a notice Thursday to the company and state and federal officials.
The company didn’t return emails or phone calls seeking comment Friday.
Online state environmental records paint a picture of chronic problems with getting the company to comply with the permit and to complete monitoring reports. Through the years, the state Water Quality Control Division sent JBS USA or Swift Beef Co., its subsidiary, advisories saying the company was out of compliance.
“I can say generally the violations are valid in our eyes. The information (in the lawsuit notice) was pulled from the state database,” said Kelly Morgan, enforcement manager for the state’s clean-water unit.
The problems at the Lone Tree Wastewater Treatment Facility met the criteria for a formal enforcement action, but the state has continued to work with the company to resolve the issues, Morgan said.
“We’re following the normal practice, which is to motivate a facility to come into compliance without a formal enforcement response,” Morgan added.
However, the state did take stronger action when it demanded changes at the wastewater treatment plant in 2005, before JBS Holdings acquired Swift. Morgan said Swift had to make significant improvements to the plant.
JBS USA and Swift Beef own and operate the plant, which treats up to 4 million gallons of wastewater daily from two nearby slaughterhouses, according to the organizations’ notice and state records. The plant’s discharge permit, authorized under the federal Clean Water Act and overseen by the Colorado Department of Public Health and Environment, sets limits on the amount of chlorine, nitrogen and other waste it can discharge.
The wastewater is dumped into Lone Tree Creek, which flows into the South Platte River.
A 2012 fact sheet by the Colorado Water Quality Control Division said the wastewater from a beef plant includes water from areas and equipment where the animals are killed, from animal carcasses and fat, and meat and blood that wash into the drains.
“It’s disgusting that JBS has been allowed for years to treat Colorado’s waterways as a sewer for dangerous meatpacking waste,” Hannah Connor, a senior attorney at the Center for Biological Diversity, said in a statement.
The waste covered by the company’s permit includes...
With Fewer Refugees, Who Will Work At Greeley's Meatpacking Plants?
By Esther Honig, KUNC
Feb 5, 2019
At his one-room apartment, 35-year-old Abul Basar made a tight fist with his right hand. As he opened his palm, his ring finger remained bent and rigid. "It's locked my finger, (it) doesn't work," he said.
Basar came to the area as a refugee in 2017 after escaping violent persecution in his former country of Burma, also known as Myanmar. He said he fled to Bangladesh and then Thailand and eventually Indonesia, where he was detained for nearly a year by immigration authorities. Today, he's relieved to be in the U.S.
"This was very difficult times," he said. "There was no work over there, just eating (and) sleeping, that's it."
He shares a home with his wife and two young children — who he hopes will aspire to be lawyers or doctors. He's happy here. But he said didn't realize the work would be so difficult.
"It's a very hard job," he said. "JBS is not easy."
Like many of the refugees living in Greeley, Basar is employed by JBS, a massive meatpacking plant that processes thousands of cattle per day and employees over 3,000 people. Basar said it was his caseworker who helped him apply for a position on the processing line where he used a large electric knife to disembowel cow carcasses. After only a few months at the plant, his hands began to hurt.
Less than two years later and Basar is already dealing with an injury to one hand, which doctors said was caused by making the same repetitive motion day after day. Soon he'll meet with a specialist who will determine if it requires surgery. In the meantime, his work has re-assigned him to a lighter task, folding cardboard boxes.
An industry reliant on refugees ...
Working with few options ...
"I have a country right now" ...
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