In this file:
· Tyson seen benefiting from higher prices
· Tyson to Build $300M Case Ready Products Plant in Utah
Tyson seen benefiting from higher prices
About: Tyson Foods, Inc. (TSN)
By: Clark Schultz, Seeking Alpha
May 14, 2019
· Credit Suisse upgrades Tyson Foods (NYSE:TSN) to an Outperform rating on its view that consensus estimates do not fully account for the upside to chicken, beef and pork prices from the outbreak of African Swine Fever.
· CS on Tyson's upside: "We believe the ASF crisis will have a profound impact on global meat supplies for at least two years. The Chinese pig herd, which is 4.5 times the size of the U.S. herd, has contracted by 30%, and reduced the supply of global meat by 5%. No supply-shock event in recent history can compare to this one in terms of magnitude."
· Credit Suisse expects FY20 EPS of...
Tyson to Build $300M Case Ready Products Plant in Utah
Powder & Bulk Solids
May 13, 2019
Tyson Foods Inc. subsidiary Tyson Fresh Meats recently revealed plans to erect a new, $300 million production plant in Utah by 2021, according to a release by the Utah Governor’s Office of Economic Development. The project will generate some 1200 jobs with three years of the facility’s opening and generate about $27 million in state tax revenue during the next decade.
Operated by Tyson’s beef and pork business, the new facility will focus on case ready products. The site will process sections of cows and pigs into steaks, chops, roasts, and ground meat products.
“We’re excited about building a new food plant in Utah and appreciate the state’s support and the exceptional people we’ve met,” Tyson Fresh Meats Senior Vice President and General Manager for Case Ready Meats Nate Hodne said in a statement. “We believe Utah is a great location because of the availability of labor and property and access to highways and rail. Once built, the new facility will help us meet growing demand for case ready meat in the western U.S.”
The state offered the company tax incentives for 500 of the 1200 jobs that are expected to be opened...