Meat + Poultry - July 2004 - (Page 4)

Continued from Page 3 which led to increased poultry mortality throughout Asia and parts of North America as well as by the discovery of B.S.E. in North America. Import bans on meat produced in diseased areas in early 2004 affected approximately one-third of global meat exports, or 6 million metric tonnes, according to F.A.O. While the bans have been temporary, global meat trade, originally forecast to rise in 2004, is now anticipated to slide by 4 percent to 18.4 million tonnes. N.T.F. launches $3-million "perfect protein" campaign WASHINGTON, D.C. - The National Turkey Federation has introduced a new marketing campaign that promotes turkey as the "perfect protein." Federation officials are capitalizing on the popularity of the current low-carb, high-protein diet trend by emphasizing turkey's high-protein, low-fat content. "Turkey has 8 percent more protein and less fat than beef or chicken, making it a great choice for the 44 percent of adults who are cutting carbohydrates and the 64 percent who are avoiding fat," said Sherrie Rosenblatt, N.T.F.'s senior director of marketing and communications. "For the low-carb dieter, turkey is the perfect lean protein choice," she said. "And even if you're not cutting carbs, it's a nutritious, easyto-prepare, great-tasting choice for a meal. We want to make sure consumers remember turkey is the perfect protein the next time they visit the supermarket." The $3-million marketing campaign will include print advertising, a concerted public relations effort, and features on N.T.F.'s Web site, The campaign stems from research conducted by N.T.F. earlier this year that shows consumers are unaware of the variety of new turkey cuts or how to prepare them. "As awareness of turkey's nutritional advantages grows, we expect to see more consumers serve and eat turkey routinely as part of their meals," said Rosenblatt. ConAgra closing two ham processing plants OMAHA - ConAgra Foods, Inc., announced this past month it is closing two ham processing facilities in Britt, Iowa, and Wyandot, Ohio. Production from the two plants will be moved to the company's facility in Mason City, Iowa. Bob Evans Farms acquires Mimi's Cafe COLUMBUS, OHIO - Bob Evans Farms, Inc., has signed a definitive agreement to acquire SWH Corp., Tustin, Calif., the owner of the Mimi's Café chain of restaurants, for $182 million in cash, including the assumption of approximately $78.7 million of outstanding debt. The acquisition is expected to be completed this month. SWH Corp. operates 81 Mimi's Café restaurants in 10 states, with most of the locations in California and other Western states. The restaurants serve breakfast, lunch and dinner, and offer a variety of choices in an atmosphere reminiscent of a New Orleans cafe or a European bistro. Arby's introduces low-carb wraps FT. LAUDERDALE, FLA. - Arby's L.L.C. has introduced a line of "Market Fresh Low Carbys" wraps. The expansion of the company's Market Fresh line includes a Chicken Caesar Wrap and Southwest Chicken Wrap. Launched in May 2001 with deli-style sandwiches, Arby's continues to build its Market Fresh line. The line now includes five sandwiches, four salads and the new wraps. 4 MEAT&POULTRY Judge dismisses Tyson-IBP case SPRINGDALE, ARK. - A Delaware federal judge dismissed a class action lawsuit against Tyson Foods, Inc., after it was accused of causing four investment firms to lose $20 million after attempting to back out of the Tyson-IBP, inc., merger in 2001. Tyson won a bidding war against Smithfield Foods, Inc., Smithfield, Va., to acquire IBP in January 2001. During the due diligence portion of the acquisition, Tyson officials discovered a financial red flag and negotiations halted. Plaintiffs, who held significant stock in IBP, claimed to have lost millions when stock prices dropped after Tyson made the surprise announcement that the deal was off. Named in the lawsuit were Don Tyson, who was then the company's senior chairman, and John Tyson, chairman and C.E.O. The tandem were accused of giving false reasons for terminating the deal, which in a March 2001 statement said the company was "inappropriately induced" to proceed with the buyout. According to the statement, issued by Tyson attorney Les Baledge, Tyson officials discovered accounting irregularities at one of IBP's subsidiaries, DFG Foods. The discrepancies, which garnered the attention of the Securities and Exchange Commission, was not divulged in the initial negotiations between the companies and was enough to break the deal. In her ruling, U.S. District Judge Sue Robinson said the Tysons could not be held responsible for what was stated in a release issued by the company's attorney, Baledge. Judge Robinson said the father and son could not be made to account for excluding the reasons why the company wanted to pull out of the transaction. Barring an appeal, the judge's ruling allows Tyson to avert damages that could have easily exceeded $100 million. Attorneys for the four investment groups had not, as of press time, appealed the decision. Tyson Foods lays off 200 in Virginia HARRISONBURG, VA. - Tyson Foods, Inc., is laying off approximately 36 percent of its workforce at its chicken processing facility in Harrisonburg. Production at the plant is being shifted from producing marinated chicken to bulk product. The chicken will be shipped to other Tyson facilities for further processing. JULY 2004

Table of Contents for the Digital Edition of Meat + Poultry - July 2004


Meat + Poultry - July 2004