Wednesday, July 10, 2013

Groups; Block Smithfield sale to Chinese firm

In preparation for today's U.S. Senate hearing on the proposal by Chinese-owned Shuanghui International Holdings, Ltd., to purchase U.S.-owned Smithfield foods, R-CALF and 16 other farm, consumer and trade groups sent a comprehensive, 12-page letter to the Obama administration urging that the sale be rejected. The groups wrote that the proposed sale "poses an unacceptable national security risk, undermines the safety and security of the U.S. food supply, threatens the environment and economy of rural communities, provides significant taxpayer-financed technology and intellectual property to foreign competitors and will raise the cost of food for American consumers." Here is the news release.

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