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By Ross Hetrick and Ross Hetrick,Staff Writer | February 24, 1993
Smithfield Foods Inc., a large Virginia meatpacking company that makes Esskay meat products, reported yesterday that earnings in its third fiscal quarter dropped 95 percent as it struggled with problems at a new $66 million slaughterhouse in North Carolina and lower profit margins on ham products.The company's financial difficulties were the reason given this month for Smithfield indefinitely postponing a plan to build a new Esskay plant in East Baltimore. The Esskay plant at 3800 E. Baltimore St., which dates back to the 1920s, was closed at the end of December, and 380 workers were laid off.But besides the company's current financial problems, one stock analyst said, Smithfield has more than enough production capacity without building another plant in Baltimore.
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BUSINESS
May 29, 2005
A weekly briefing on the economic calendar Monday Markets closed for Memorial Day Tuesday May consumer confidence report Earnings reports: Semtech Wednesday Auto and truck sales for May, construction spending for April Earnings reports: NCI Building Systems, Neiman Marcus, Verint Systems Thursday April factory orders Earnings reports: Jackson Hewitt Friday Unemployment rate for May Earnings reports: Smithfield Foods
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BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | February 9, 1993
After months of waiting, supporters of a new Esskay plant in Baltimore have been told they will have to wait until financial conditions improve for Esskay's parent company.David B. McLaughlin, a spokesman for Esskay, said Smithfield Foods Inc. officials have decided that "until economic conditions improve, the corporation won't make any capital expenditures.""For the time being, it puts the situation on hold," Mr. McLaughlin said. Besides a bad hog market, Smithfield has also had to contend with problems at a new plant in North Carolina, he said.
BUSINESS
By Chris Flores and Chris Flores,DAILY PRESS | December 2, 2004
Smithfield Foods Inc. will backtrack on a 1 1/2 -year-old plan to merge two subsidiaries because they were too large to run together. Smithfield Foods, the No. 1 pork producer, has decided to keep Gwaltney of Smithfield and Smithfield Packing as separate subsidiaries. The combination created an organization that was large and cumbersome, with too many plants, brand names and sales teams under one umbrella. "The companies operate separately better than together," C. Larry Pope, president of Smithfield Foods, said yesterday.
BUSINESS
By Chris Flores and Chris Flores,DAILY PRESS | December 2, 2004
Smithfield Foods Inc. will backtrack on a 1 1/2 -year-old plan to merge two subsidiaries because they were too large to run together. Smithfield Foods, the No. 1 pork producer, has decided to keep Gwaltney of Smithfield and Smithfield Packing as separate subsidiaries. The combination created an organization that was large and cumbersome, with too many plants, brand names and sales teams under one umbrella. "The companies operate separately better than together," C. Larry Pope, president of Smithfield Foods, said yesterday.
BUSINESS
May 29, 2005
A weekly briefing on the economic calendar Monday Markets closed for Memorial Day Tuesday May consumer confidence report Earnings reports: Semtech Wednesday Auto and truck sales for May, construction spending for April Earnings reports: NCI Building Systems, Neiman Marcus, Verint Systems Thursday April factory orders Earnings reports: Jackson Hewitt Friday Unemployment rate for May Earnings reports: Smithfield Foods
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | February 10, 1993
Mayor Kurt L. Schmoke will try to determine whether Smithfield Foods Inc. is serious about trying to keep its Esskay operation in Baltimore, or whether an announced delay in reaching a decision on a new plant amounts to a rejection of the plan."
NEWS
March 31, 2003
George E. Hamilton Jr., 87, a Maryland native who helped lead Smithfield Foods' transformation from a local pork-packing company into a national force, died Tuesday at a nursing home in Smithfield, Va. Mr. Hamilton was president of the company's original subsidiary, Smithfield Packing Co., from 1970 to 1994. Under his leadership and that of Chief Executive Officer Joseph W. Luter III, Smithfield Foods made its first big purchase, buying out Gwaltney of Smithfield - at the time, its principal mid-Atlantic competitor.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | December 3, 1992
City and state officials gave Esskay Inc. a plan yesterday intended to keep the meat packing operation in Baltimore, and officials said a decision on the operation's fate could be made in three to four weeks."
NEWS
March 31, 2003
George E. Hamilton Jr., 87, a Maryland native who helped lead Smithfield Foods' transformation from a local pork-packing company into a national force, died Tuesday at a nursing home in Smithfield, Va. Mr. Hamilton was president of the company's original subsidiary, Smithfield Packing Co., from 1970 to 1994. Under his leadership and that of Chief Executive Officer Joseph W. Luter III, Smithfield Foods made its first big purchase, buying out Gwaltney of Smithfield - at the time, its principal mid-Atlantic competitor.
BUSINESS
By BLOOMBERG NEWS | September 5, 2002
SPRINGDALE, Ark. - Tyson Foods Inc. said yesterday that it expects its profit in the current quarter to fall as much as 41 percent as the world's largest meat producer spends money to close hog farms and discontinue a brand it bought last year. Profit for the quarter that will end Sept. 28 will range from 13 cents to 15 cents a share, Tyson said in a news release. That would be 22 cents less than in the year-earlier period. Tyson, Smithfield Foods Inc., Hormel Foods Inc. and other meat companies have been hurt by a drought in the United States that has raised prices for grain-based animal feed and by a Russian ban on U.S. poultry imports imposed in March because of food-safety concerns.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | October 13, 1994
Esskay Quality Meat Co.'s parent has agreed to donate its primary local manufacturing plant to a nonprofit affiliate of the Essex Community College, nearly two years after the discovery of structural problems forced the closing of the East Baltimore Street facility.Under a tentative plan being negotiated between the Essex Community College Foundation, Smithfield Foods Inc. and city economic development officials, Essex would assume control of the 13.6-acre property early next year.Although the foundation has not determined the ultimate use for the former meatpacking operation, it is considering redeveloping the site as either housing for the elderly, townhouses or light manufacturing.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | February 24, 1993
Smithfield Foods Inc., a large Virginia meatpacking company that makes Esskay meat products, reported yesterday that earnings in its third fiscal quarter dropped 95 percent as it struggled with problems at a new $66 million slaughterhouse in North Carolina and lower profit margins on ham products.The company's financial difficulties were the reason given this month for Smithfield indefinitely postponing a plan to build a new Esskay plant in East Baltimore. The Esskay plant at 3800 E. Baltimore St., which dates back to the 1920s, was closed at the end of December, and 380 workers were laid off.But besides the company's current financial problems, one stock analyst said, Smithfield has more than enough production capacity without building another plant in Baltimore.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | February 10, 1993
Mayor Kurt L. Schmoke will try to determine whether Smithfield Foods Inc. is serious about trying to keep its Esskay operation in Baltimore, or whether an announced delay in reaching a decision on a new plant amounts to a rejection of the plan."
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