"We're going to grow sales of domestic value-added chicken and prepared foods," Leatherby said. "We're not a commodity protein company. That's not our goal, nor our destiny. Value added is currently about a third of our sales, which includes food service as well as branded retail products. Looking ahead to 2014 and beyond, we expect total company top-line sales to grow 3-4% annually, and value-added sales should grow 6-8% a year. We expect sales from international production to grow at an annual rate of 12-16%. International growth is focused on production and further processing in Brazil, China and India, in addition to our long-standing poultry business in Mexico. We're able to execute this growth strategy because we have a strong capital structure, and that creates opportunities for us."
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN), founded in 1935 with headquarters in Springdale, Arkansas, is one of the world's largest processors and marketers of chicken, beef and pork, the second-largest food production company in the Fortune 500 and a member of the S&P 500. The company produces a wide variety of protein-based and prepared food products and is the recognized market leader in the retail and foodservice markets it serves. Tyson provides products and services to customers throughout the United States and approximately 130 countries. The company has approximately 115,000 Team Members employed at more than 400 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.
The Tyson Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3224Forward Looking Statements This release includes forward-looking statements as well as historical information. These forward-looking statements may include statements relating to domestic and international growth and cattle and hog supplies. Actual results may vary. Factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: consumer demand and perceptions; the availability of raw materials; customer requests and requirements; and the ability to compete in products and prices in a competitive industry.
CONTACT: Investor Contact: Jon Kathol, 479-290-4235 Media Contact: Gary Mickelson, 479-290-6111