SMITHFIELD, Va./PRNewswire/ -- Smithfield Foods, Inc. (NYSE: SFD - news) announced today that it has entered into an agreement with Artal Holland B.V. for a joint venture in AFG Company Limited, located in the Guangdong Province of the Peoples Republic of China. The company produces, sells and distributes processed meats products to retail and food service customers in China under the Maverick and Haslett brands. Established in 1998, the company has processed meats revenues of approximately $8.5 million.