Tesla Launches New Model Y Variant in the US Starting at $41,990 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Denso Cuts Profit Forecast Amid U.S. Tariffs and Rising Costs 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
Hyundai Motor Lets Russia Plant Buyback Option Expire Amid Ongoing Ukraine War 
Qantas to Sell Jetstar Japan Stake as It Refocuses on Core Australian Operations 
SMITHFIELD, Va., Aug. 22, 2017 -- Smithfield Foods, Inc. announced today it will build a new distribution center and expand its blast cell cold storage capabilities at its processing facility in Tar Heel, North Carolina. Smithfield will invest $100 million and add approximately 250 new jobs to bring both projects to life. In addition to the new positions, additional employment opportunities will also be available within Smithfield’s logistics partner.
“This expansion reflects the promising new era we’re experiencing at Smithfield,” said Kenneth M. Sullivan, president and chief executive officer for Smithfield Foods. “It supports our continued growth and helps us better serve our customers by providing additional capacity and optimizing our distribution footprint.”
Smithfield will begin construction of the new distribution center this month. The new distribution center will be 500,000 square feet with 47,000 pallet positions. The blast cell cold storage expansion, announced earlier this year, is underway and will increase the facility’s capacity by 140 million pounds. Both projects will be complete fall 2018.
“At Smithfield, we’re constantly evaluating strategies to achieve greater operational efficiencies and make our supply chain more sustainable,” said Dennis Organ, senior vice president, supply chain & direct store delivery (DSD) for Smithfield Foods. “This project will help us accomplish both goals while better serving our customers in the southeastern U.S.”
Smithfield’s Tar Heel facility is the largest pork processing plant in the world and produces fresh pork products for customers across the globe. Currently, the facility employs nearly 5,000 people and processes more than 30,000 hogs each day.
About Smithfield Foods
Smithfield Foods is a $15 billion global food company and the world's largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including SmithfieldⓇ, EckrichⓇ, Nathan's FamousⓇ, FarmlandⓇ, ArmourⓇ, John MorrellⓇ, Cook'sⓇ, KretschmarⓇ, GwaltneyⓇ, Curly'sⓇ, MargheritaⓇ, CarandoⓇ, Healthy OnesⓇ, KrakusⓇ, MorlinyⓇ and BerlinkiⓇ. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental and food safety and quality programs. For more information, visit www.smithfieldfoods.com.
Contact: Kathleen Kirkham Smithfield Foods, Inc. (757) 365-1965 [email protected]
