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August 12, 2019

Tyson Foods to rebuild fire-hit US plant

Tyson Foods, the US meat giant, has pledged to rebuild a plant "partly destroyed" by a fire on Friday (9 August).

By Dean Best

Tyson Foods, the US meat giant, has pledged to rebuild a beef plant “partly destroyed” by a fire on Friday (9 August).

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

The company said officials were still assessing the damage to the facility in Holcomb, Kansas, so could not give a timetable for when construction could start.

“We’re taking steps to move production to alternative sites,” Steve Stouffer, group president of the company’s Tyson Fresh Meats business, said. “Tyson Foods has built in some redundancy to handle situations like these and we will use other plants within our network to help keep our supply chain full.”

Tyson operates six plants in Kansas, employing more than 5,600 people. Reuters has reported some 3,800 work at the Holcomb site.

“This is a difficult time for our team members and their families, and we want to ensure they’re taken care of,” Stouffer said. “Today, we will notify our full-time, active team members that they’ll be paid weekly until production resumes.”

Tyson has not disclosed how the fire may have started and the company has yet to return a request for comment at the time of writing.

It has said no staff were injured.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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