BY George C. Upper III, The Western JournalMarch 15, 2023
1 year ago
BY 
 | March 15, 2023
1 year ago

CEO of Largest US Pork Producer Says Being Acquired by a Chinese Company Has Led to 'A Really Successful Relationship'

As federal and state legislators express increasing concern about Chinese ownership of American companies and land, one American company acquired a decade ago by a Chinese firm tried to push back this week.

Shane Smith, CEO of Smithfield Foods Inc., told The Wall Street Journal in an interview published Tuesday of dealing with Chinese owners, "It’s been a really successful relationship."

Chinese pork company WH Group Ltd. bought Smithfield, America's largest producer of pork products, in 2013 for $4.7 billion.

Some lawmakers say that Chinese ownership of U.S. companies and real estate not only endanger the nation's food supply, but also may provide access for China to spy on the U.S.

Smith, who has been CEO for two years, disputed those claims, praising WH Group for helping Smithfield increase production and sales as well as for hiring more U.S. workers.

“We’ve been able to collaborate on things like introducing an American-style bacon into China,” he told the Journal.

The company is looking to expand into other meat products at some unspecified time in the future, Smith said.

Smithfield, founded in 1936, already slaughters about 30 million pigs annually and distributes the results under its own name as well as the Armour, Farmland and Nathan's Famous brands.

The purchase of the company by Chinese WH Group set off alarm bells in Washington 10 years ago, according to the Journal, but the deal was allowed to go through.

Now, however, with America's relationship with China on a decidedly downward slope, similar concerns have resurfaced -- with a vengeance.

"U.S. national-security officials have pointed to technology and equipment made in China or owned by Chinese companies that they warn could be used to carry out espionage, including Chinese-made cranes in U.S. ports," the Journal reported. "Espionage concerns deepened last month after a suspected Chinese spy balloon was identified in U.S. airspace and shot down."

China has since come to own about 350,000 acres of U.S. farmland -- a total area amounting to a little larger than a third of the state of Rhode Island. About half of that amount consists of Smithfield-owner property, according to federal data cited by the Journal.

Some legislators have begun calling for prohibiting further sales of agricultural land to Chinese-owned companies.

“From purchasing fields and pastures to gobbling up companies like Smithfield, Chinese influence in American agriculture means that China’s needs, not America’s, come first,” Arkansas Sen. Tom Cotton told the Journal in an emailed statement.

Smith said that since becoming CEO, he's had to spend a lot of time meeting with D.C. officials about the issue.

“It’s a different environment than it was in 2013," he said.

That difference, however, has nothing to do with Smithfield Foods, he claimed.

“We’re as American today as we were in 2013,” he told the Journal. “When you meet with politicians and have those discussions, they seem to understand that.”

This article appeared originally on The Western Journal.

Written by: George C. Upper III, The Western Journal

NATIONAL NEWS

SEE ALL

North Carolina Congressional Race Sees Kelly Daughtry Suspend Campaign After Trump Endorses Rival

According to Fox News, Kelly Daughtry has ended her run for Congress after her opponent, Brad Knott, received a crucial endorsement from former President Donald…
5 hours ago
 • By Staff Writers

Trump Accused Of Stifling Publicist To Suppress Daniels' Story

Donald Trump is embroiled in allegations of using intimidation to silence a celebrity publicist from aiding Stormy Daniels in selling her story in 2012, now…
5 hours ago
 • By Staff Writers

Appeals Court Affirms Pennsylvania's Mail-In Ballot Date Requirement

The 3rd U.S. Circuit Court of Appeals has affirmed a Pennsylvania state law, maintaining that mail-in ballots should be discarded if they lack a correct…
5 hours ago
 • By Staff Writers

Trump Faces Legal Consequences For Alleged Gag Order Breaches

During a hearing on Thursday morning, Donald Trump expressed dissatisfaction by shaking his head at one of his top legal aides as his defense lawyer…
5 hours ago
 • By Staff Writers

Judge Considers Penalizing Trump Over Gag Order Breach

Judge Juan Merchan of New York County is deliberating whether to penalize Donald Trump following allegations that he breached a gag order related to his…
7 hours ago
 • By Staff Writers

DON'T WAIT.

We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:

    LATEST NEWS

    Newsletter

    Get news from American Digest in your inbox.

      By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, http://americandigest.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.
      Christian News Alerts is a conservative Christian publication. Share our articles to help spread the word.
      © 2024 - CHRISTIAN NEWS ALERTS - ALL RIGHTS RESERVED
      magnifier