Tyson to Sell China Chicken Business

Tyson Foods is planning to shed another one of its poultry businesses — this time in China, unnamed sources told Reuters. 

Tyson, the largest U.S. meat supplier had said earlier this month it would shut down four chicken facilities in Arkansas, Indiana and Missouri. Its third quarter results, released Aug. 7, showed a $350 million operating loss.

In addition to those U.S. locations, three people “with knowledge of the matter” told Reuters that the company will sell its Chinese chicken business, a move in line with the company’s “continued divestment” from China, according to Reuters.

Tyson opened its Chinese facility in 2001, a venture that now has four research and development centers and “dozens of breeding farms,” according to the company website. They do everything from breeding chickens to slaughtering, processing and distribution, said the Tyson Foods site.

Goldman Sachs is advising the sale, according to Reuters.

Tyson Foods and Goldman Sachs did not immediately respond to The Messenger’s request for comment. Shares of the company were up 2.17% to $54.56 in afternoon trading but remain well below their price of $81.09 at market close a year ago.