Reading Time: 2 minutes Sao Paulo | Reuters — Meat processor JBS SA’s fourth-quarter profit rose 65 per cent from a year earlier, boosted by strong food sales in China and the U.S. and a sharp devaluation of Brazil’s real currency, the company said in a securities filing on Wednesday. For full-year 2020 its profit was 4.6 billion reais, […] Read more
JBS profit bolstered by weak currency, strong Chinese and U.S. markets
China became third largest beef export market for JBS Canada, company says
JBS pledges net zero greenhouse emissions by 2040
Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA, the world’s largest meatpacker, has committed to zeroing the balance of its global greenhouse gas emissions by 2040, the company said on Tuesday, amid criticism of its role in a Brazilian beef industry driving rainforest destruction. “We know it is very difficult to achieve this,” CEO Gilberto Tomazoni […] Read more
JBS gears up for U.S. and Brazil expansions
Brazilian meat giant reiterates plans following strong Q3 results
Reading Time: < 1 minute Sao Paulo | Reuters — Food processor JBS SA reiterated plans to grow production capacity in Brazil and in the United States after posting strong third quarter results, executives said in a conference call to discuss earnings on Thursday. CEO Gilberto Tomazoni said 12 of the company’s plants in Brazil were being expanded, as JBS […] Read more
JBS to seek damages from founders
Brazil shareholder vote a win for Brazil's BNDES
Reading Time: 2 minutes Sao Paulo | Reuters — Shareholders in JBS SA on Friday cleared the way for the Brazilian food processor to sue its own controlling stakeholders and certain former managers, a rare victory for shareholder activism in Latin America’s largest economy. The vote was a win for JBS’s top minority shareholder, national development bank BNDES, which […] Read more
JBS to resume U.S. share listing plan after COVID-19 fallout
Management looking also for US$100 million in cost cuts
Reading Time: < 1 minute Sao Paulo | Reuters — Brazil’s JBS SA is reviving plans to list shares on Wall Street after dealing with the COVID-19 pandemic’s fallout, CEO Gilberto Tomazoni said on Friday, as the world’s largest meatpacker reported strong quarterly results. Speaking on a conference call with analysts following the company’s second-quarter results, Tomazoni said the focus […] Read more
JBS invests $19-million in safety measures amid COVID-19 pandemic
Reading Time: 2 minutes Sao Paulo | Reuters –Brazilian food processor JBS SA has invested more than 100 million reais ($19.3 million) in health, safety and contingency measures at all its Brazilian production units, according to a Wednesday company statement that comes as the novel coronavirus continues to ravage local meat plants. The company said the funds were invested […] Read more
JBS sees steady trade flows but flags export woes
Reading Time: 2 minutes Sao Paulo | Reuters — Brazil’s JBS, the world’s largest meatpacker, has said the COVID-19 coronavirus epidemic could cause container shortages, port disruptions and other logistics issues, but said trade flows should stay strong thanks to Chinese demand. In a conference call to discuss earnings results on Thursday, JBS executives said its export operations had […] Read more
Dreyfus to cut costs amid trade jitters, swine fever
Reading Time: 2 minutes Sao Paulo | Reuters — Agricultural commodities giant Louis Dreyfus Co. (LDC) has launched a cost-cutting and reorganization drive in the face of difficulties confronting global trading houses, according to an internal memo seen by Reuters on Wednesday. LDC confirmed the memo’s authenticity in a statement, saying the company aimed to optimize its cost base […] Read more
Brazil gets approval for 13 meatpacking plants for China exports
Reading Time: 2 minutes Sao Paulo | Brazil | Reuters – Chinese authorities approved new Brazilian meat exporting plants on Tuesday, according to the Brazilian agriculture ministry, a highly anticipated move as the two nations continue to strengthen trade ties. The approvals come as China seeks to increase meat imports to compensate for the death of around half of […] Read more
Brazil’s JBS says it uses satellites to monitor cattle suppliers
Reading Time: < 1 minute Sao Paulo | Reuters — The world’s largest meatpacker JBS SA is closely monitoring the origin of the cattle it buys in Brazil amid heightened concerns about environmental preservation and sustainable business practices, its CEO said Wednesday. Speaking at an industry event in Sao Paulo, JBS CEO Gilberto Tomazoni said the company is using satellite […] Read more
A message from April Stewart, Country Guide's Associate Editor
