Jbs Funnels Investment Into New Us Meat Plant

JBS firm signage displayed connected a handphone. Credit: T. Schneider/Shutterstock.

Brazilian nutrient elephantine JBS has revealed different US works investment, taking this year’s full outlay to much than $800m.

JBS is acquiring a installation successful Ankeny, Iowa, antecedently owned by nan unit concatenation Hy-Vee, and plans to walk $100m to acquisition nan tract and kit it retired for nan accumulation of bacon and sausage.

The 186,000 square-foot mill will beryllium nan “largest ready-to-eat bacon and ready-to-eat sausage works successful nan company’s US portfolio”, nan listed business said successful a connection precocious yesterday (13 August).

Post finance and completion of upgrading, JBS added that astir 400 jobs will beryllium created astatine nan tract erstwhile afloat operational, which is expected by mid-2026. The institution will activity to prosecute erstwhile Hy-Vee workers who were employed astatine nan plant, it said, without providing immoderate numbers.

“Today’s announcement aligns pinch our semipermanent strategy of offering much value-added and prepared-foods products to meet nan needs of our customers and consumers,” Wesley Batista Filho, nan CEO of JBS’s US division, said.

“We are proud to turn our operations successful Iowa, wherever we already run 4 accumulation facilities, pinch different expected to break crushed later this year.”

JBS revealed past period a $400m investment by its US-based subsidiary Pilgrim’s Pride for a caller prepared-foods installation successful Walker County, Georgia.

“This installation successful Ankeny will not only grow our prepared-foods business successful nan US, it will besides use from synergies and strategical proviso of merchandise from our different plants successful nan region,” Rick Foster, caput of prepared foods astatine nan US division, added yesterday.

JBS besides announced its second-quarter results alongside nan latest Iowa works investment.

Revenue climbed 8.9% to $20.9bn from nan aforesaid 4th a twelvemonth earlier.

Adjusted EBITDA fell 7.4% to $1.8bn and nan separator dropped 140 ground points to 8.4% connected an IFRS basis. Net income surged much than 60% to $528m.

JBS completed its further listing connected nan New York Stock Exchange successful June, whereby it is now listed successful some nan US and Brazil.