China Inc. comes to Iowa
A large Chinese food company announced last week that it will purchase America’s and Iowa’s largest pork producer and processor, Smithfield Foods of Virginia. Smithfield raises hogs under the Murphy-Brown umbrella and processes them under the Farmland, Armor and John Morrell names. The buyer, Shuanghui International Holdings Ltd., will pay $4.7 billion for Smithfield. Shuanghui says it wants the company to use as a direct export mechanism of American pork to China.