Smithfield Foods, the world’s largest hog producer and pork processor, has reported that it expects its investments in Romania to reach US$275m by the end of 2006.
In March 2004, Smithfield acquired a majority stake in Romanian meat processing company Agrotorvis. Since then, the company has invested US$200m in developing this business.
With the influx of fresh investment, the company plans to sign longterm deals with Romanian farmers, Romanian reports have suggested.
Smithfield’s executive vice president, Richard J.M. Poulson, said that the company plans to reinvest all its profits for the next ten years.