Smithfield agrees to sale to Chinese firm
TAR HEEL, NC (WWAY) — Bladen County is the home to the world’s largest slaughter house. Soon it could be owned by a foreign company.
Smithfield Foods has agreed to sell to Chinese meat processor Shuanghui International Holdings Ltd. for $4.7 billion.
Smithfield runs the largest slaughterhouse and meat-processing plant in the world in Tar Heel.
The Wall Street Journal reports the purpose of the deal is to export more of Smithfield’s meat to China, which is the world’s biggest pork market.
Virginia-based Smithfield employs more 10,000 workers in North Carolina alone.
Smithfield Foods says there will be no closing of any facilities and employees will stay in place.
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