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Smithfield Foods Inc.

Kansas, MO: (Jun-13-07) Missouri Attorney General Jay Nixon brought charges against Smithfield Foods Inc., who bought Kansas City-based Premium Standard Farms in May 2007 in a deal valued at $800 million. The suit was over environmental damage caused by Premium Standard's hog farms in the state. Nixon reached an agreement with Smithfield Foods that will preserve terms of an eight-year-old settlement with Premium Standard Farms that intended to reduce the environmental effects of Premium Standard's hog farms.

The agreement will also protect jobs in north-central Missouri, preserve contracts for farmers in the state, keep intact technology to protect the environment, and establish $250,000 in scholarships for veterinary and agricultural economics students at the University of Missouri. As part of the settlement, Smithfield will commit to increasing staffing at Premium Standard Farms' Missouri facilities, including an estimated 75 new full-time jobs that will enable it to meet increased production levels as a result of its Milan plant expansion. Smithfield and Premium Standard Farms will provide monthly reports to Nixon's office about the purchase of hogs from independent Missouri hog producers to demonstrate its commitment to maintain a healthy, independent hog-growing industry in Missouri. [KANSAS CITY BUSINESS JOURNAL: HOG FARM DAMAGE]

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Published on Jun-14-07


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