Tag: JBS

• Monday, March 20th 2017 - 08:12 UTC

  Brazil desperate to minimize extent of “Weak Flesh”, exposing bribes and poor controls in meat industry

  

  Brazil's President Michel Temer has sought to reassure foreign trade partners that the corruption scandal engulfing the country's meat industry does not mean its products are unsafe. Meeting ambassadors from Europe, the United States and China to share a barbeque, Temer said his government remained confident about the quality of Brazilian meat.

• Tuesday, September 6th 2016 - 17:43 UTC

  Another major fraud investigation in Brazil: companies funds pensions; US$ 25bn alleged damages

  

  Brazilian police launched an investigation of fraud at state-run companies' pension funds on Monday, as a judge ordered dozens of senior financiers and executives away from their firms, including the chief executive of the world's biggest beef exporter.

• Monday, May 9th 2016 - 11:20 UTC

  JBS denies making illegal payments for Rousseff's campaign in 2014

  

  JBS SA, the world's largest beef producer, denied a Saturday newspaper report that it had made illegal payments for President Dilma Rousseff's 2014 reelection campaign. O Globo newspaper, citing leaked testimony given to federal investigators by Monica Moura, the wife of Rousseff's campaign chief Joao Santana, earlier reported that JBS paid the Rousseff campaign's debt to Focal, a Sao Paulo-based visual communications firm.

• Tuesday, December 15th 2015 - 08:36 UTC

  Brazil in recession, but farming is booming with the 29% fall of the Real

  

  Financial and political turmoil that have Brazil on the brink of a depression is also contributing to one of the best years ever for domestic farmers. Economic stress and a weak currency has facilitated export revenue for everything from soybeans to beef to coffee.

• Friday, July 3rd 2015 - 12:43 UTC

  JBS buys UK's Moy Park for $1.5bn from rival Mafrig Global Foods

  

  Brazil’s JBS, the world’s largest meat packer, has agreed to pay about $1.5 billion for Moy Park, the British unit of rival Mafrig Global Foods. JBS, which has undertaken a massive overseas expansion since 2007, will pay $1.19 billion in cash and will assume Moy Park’s debt totaling £200 million as part of the deal, Marfrig said in a statement.

• Friday, March 13th 2015 - 13:24 UTC

  Brazil's meats giant JBS plans no further acquisitions; about 80% of debts in dollars

  

  Brazilian meats giant JBS SA plans to focus on Australia, U.S. pork operations and its processed foods division under a 2015 strategy focused on “organic expansion” rather than acquisitions, CEO Wesley Batista said on Thursday, and estimated that between 2.5 billion to 3 billion reais (806 million/967 million dollars) in capital investment will be needed this year to support the strategy.

• Monday, November 24th 2014 - 07:14 UTC

  Brazil's JBS purchases leading ham and bacon supplier in Australia

  

  Brazil's JBS, the world's biggest meat group, beefed up its growth in Australia with the 1.25bn dollars purchase of Primo Smallgoods Group. JBS said that through its JBS Australia business, it had paid Aus$1.45bn in cash for the supplier of the likes of ham and bacon to Oceania.

• Thursday, June 14th 2012 - 13:31 UTC

  JBS meat giant planning to expand in the cattle-rich state of Mato Grosso

  

  Brazilian beef processor JBS SA is reportedly planning to lease four slaughterhouses in Brazil, three of which may be in the cattle-rich state of Mato Grosso, according to Brazilian news outlets Wednesday citing anonymous sources.

• Friday, May 11th 2012 - 13:05 UTC

  Brazilian meatpacker moving out of Argentina sells plant to local government

  

  Brazilian meatpacker JBS SA has sold one of its two units based in San Jose, Argentina, the company said in statement Wednesday. The unit was sold for 16.5 million dollars to a group of local cooperatives and the provincial government, which will run the operation.

• Thursday, May 3rd 2012 - 07:04 UTC

  French poultry processor in Brazil in talks to sell local subsidiary

  

  Brazil’s meat giant JBS is the most likely buyer of a local subsidiary owned by a French poultry processor, according to news reports.