![]() I certainly am a significant shareholder. "I don't have those numbers right here in right in front of me. Under questioning from Democrat Sherrod Brown, Pope acknowledged he would benefit significantly from the proposed sale, but declined to say how much he would gain. Chinese regulators would laugh at you if you said, 'Well, I'll just buy Shuanghui,'" Johanns said. "You know for a fact you could not do in China what they are doing here with Smithfield. company tried to buy a Chinese pork producer, the deal would be blocked. Republican Senator Mike Johanns said he was skeptical that the deal would lead to China becoming a major pork producer because water shortages in that country make it difficult to grow enough grain.īut Johanns said the sale was galling to many members of Congress because if a U.S. We're not operating under the laws of China," Pope said. ( Read More: Smithfield CEO Faces Grilling in Senate on Food Safety) Regardless of where the ownership is, this company is going to have to operate under the laws of the United States. We will continue to operate like an American company. Pope sought to assure the panel the company would be the "same old Smithfield" after the deal. It has argued the deal is good for United States because it will boost pork exports, and good for China because it will help meet the country's growing demand for pork as hundreds of millions of Chinese move into the middle class.īut some have questioned what kind of production practices Shuanghui could bring to the United States, especially after revolting images this year of thousands of rotting pig carcasses floating down the Huangpu River that runs through Shanghai raised concerns about food safety practices in China. The Smithfield, Virginia-based company makes ham, sausage, bacon and other prepared meats under labels including Eckrich, Gwaltney and Armour. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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