This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Smithfield Packing To Consolidate Bone-in Ham Production And Close Landover, Maryland, Plant By Early Fall

LANDOVER, Md., March 14, 2013 (GLOBE NEWSWIRE) -- The Smithfield Packing Company, Inc., a subsidiary of Smithfield Foods, Inc. (NYSE:SFD), announced today that it plans to shift bone-in ham production from its Landover, Maryland, plant to its facilities in North Carolina and Kentucky, and then permanently close the Landover plant by early fall.

Closing the Landover plant will affect about 175 hourly and salaried employees. Some employees will be offered transfers to other Smithfield Packing facilities, and the company also will negotiate with United Food and Commercial Workers (UFCW) union officials regarding other potential opportunities related to this transition.

"We deeply regret having to close this facility because we recognize that layoffs and plant closings are difficult for everyone concerned," said Tim Schellpeper, president of Smithfield Packing.

"However, the Landover plant is a facility that no longer meets our ever-changing production needs. We will work diligently to transfer as many employees as possible to our other operations," Schellpeper said.

The company will comply with the federal Worker Adjustment and Retraining Notification Act (WARN), and will provide employees with a 60-day notification of the plant closure. Under the WARN Act, the company also will notify state dislocated worker units so that they can promptly offer dislocated worker assistance.

About Smithfield Packing

The Smithfield Packing Company, Inc., was founded in 1936 by Joseph W. Luter and his son, Joseph W. Luter, Jr. Primary lines of business include fresh pork, smoked meats, bacon, cooked hams and hot dogs for retail, foodservice and deli channels. The company exports products to approximately 30 countries. In addition to the Smithfield brand, its Gwaltney, Esskay, and Cumberland Gap products are among the leaders in their respective markets. For more information, visit www.smithfield.com .

About Smithfield Foods

Smithfield Foods is a $13 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®, Farmland®, Armour®, Cook's®, Gwaltney®, John Morrell®, Kretschmar®, Curly's®, Carando®, Margherita®, and Healthy Ones®. 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 and www.smithfieldcommitments.com .

The Smithfield Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7622

CONTACT: Keira Lombardo
         Smithfield Foods, Inc.
         (757) 365-3050
         keiralombardo@smithfieldfoods.com

Smithfield Foods, Inc. Logo

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs