[Imc-newsroom] More on the monopoly--Smithfield

[Peter Miller]

Here's Smithfield Farms' press release about the planned buyout.

http://www.smithfield.com/news/news_011101.html

excerpts:

        The acquisition of American Foods establishes Smithfield Foods as
    a major player in the United States beef industry, with annual sales
    of $2.6 billion and a processing capacity of 10,425 head of cattle a
    day.

         Smithfield Foods has delivered a 28 percent average annual
    compounded rate of return to investors since 1975. In the last 15
    years, the companys share price has outperformed the S&P 500 Index by
    more than 350 percent. With annual sales of $6 billion, Smithfield
    Foods is the leading processor and marketer of fresh pork and
    processed meats in the United States, as well as the largest producer
    of hogs. For more information, please visit www.smithfieldfoods.com.

But they'll still only be the fourth largest beef corporation in the US, 
controlling 9% of the market ... (for all beef, not just dairy 
cattle--they'll control 98% of the dairy cattle slaughter)

Smithfield Corporate Public Relations: 212-758-2100.

-peter