Meat + Poultry - July 2010 - 46

A Quality
Cleaning
Experience

BO MANLY

customer needs with the right product
at the most effective locations.
M&P: Speaking about pork specifically, exports have been a bright spot
for the industry. In your estimation,
will the U.S. pork industry be facing

Air Handlers

M&P: The industry continues to
be a good employer for hourly wage
workers. There have been relatively
few plant closings and big workforce
reductions compared to other industries. From your perspective, what's
the long-term prognosis for employment in the industry?

Boilers
Chillers
Cooling Towers
Refrigeration
Coils
Cooling Tower
Rebuilds

"We expect that
fiscal 2010 should
be the secondbest year ever for
Smithfield freshpork exports."
stiff competition in the world market
from China sooner or later? Why?
How volatile is the global pork market?
RM: The global pork market is very
volatile - for example, just look at the
H1N1 experience. That being said,
we expect that fiscal 2010 should be
the second-best year ever for Smithfield fresh-pork exports.

M&P: The difficult economy has
stifled capital expenditures across
the board in the industry, including at
Smithfield. Do you see that changing
anytime soon? Are there plans on the
board at Smithfield to make any major
plant improvements or modifications
that you can talk about?

877-362-6234
www.vincitgroup.com

$200 million, equivalent to spending
last year and well below current depreciation levels. We expect capital expenditures to move to levels equivalent
with depreciation in the coming fiscal
year as more normal earning levels are
achieved. We project full-year depreciation for both fiscal 2010 and 2011
to be $240 million each year.

RM: We continue to maintain a high
level of discipline around capital expenditures. With projects already in
the pipeline we continue to anticipate
CAPEX for the fiscal year to fall below

46 * Meat&Poultry * July 2010 * www.MeatPoultry.com

RM: After the Sioux City, Iowa, plant
(closed in April), Smithfield has no
further plans for plant closures in
the foreseeable future. As with most
employers, there are always good opportunities for good employees. In our
industry, no matter how much mechanization we try to employ, because of
the variability of animals, there will
be a need for human ability to handle
those variables.
M&P: In general, are you optimistic these days about the industry and
about Smithfield? If so, why? What
makes you glad to come to work in the
morning and what do you go home at
night worrying about?
RM: This organization continues to
focus on driving profitable growth
through our consumer packaged
meats business. Consequently, we are
very pleased with the ongoing performance of our packaged meats business over the last two years. It is this
focus that will continue to propel the
company forward. ■
Steve Bjerklie is M&P's East Coast correspondent
based in Franconia, N.H. He has worked as a
journalist covering the meat and poultry processing industry for more than 25 years.
We would like to hear from you - to comment
on this story or to request reprints, contact us
by e-mail at meatpoultry@sosland.com.


http://www.vincitgroup.com http://www.MeatPoultry.com

Table of Contents for the Digital Edition of Meat + Poultry - July 2010

Contents
Meat + Poultry - July 2010 - 1
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