Mexican pork firm given boost
A note from Norson, a joint venture between Smithfield Foods, the world’s largest pork producer, and local investors, said the company was “proud to have been selected by an institution as prestigious worldwide as the IFC”.
It said the money would be used to fund expansion within its north-west Mexican home state Sonora, including modernising farms, increasing pork production capacity, expanding cold storage and boosting the company’s slaughtering and butchering systems. The changes would follow a “sustainability master plan reaffirming [the company’s] commitment to caring for the environment and society in all its operations,” said the note.
The IFC said it valued Norson’s role as a “continuously growing vertically integrated leader in the production, processing and marketing of high-quality food and value-added services with a presence in international markets…”
Noting the expansion would continue over the next four years, it said the initiative would “create business opportunities for local small and medium-sized pig farmers and create jobs in processing plants.” It stressed how Norson wanted to install plastic liners at waste lagoons, adopting a safer waste management system using best industry standards and exceeding local requirements. The corporation also noted how it was working with Norson to explore capturing methane emissions for electricity generation and potentially using solar power for operations.
C Larry Pope, CEO of Smithfield Foods, said the company wanted to exploit growing demand for protein, both locally and in new export markets. “Investments in environmental protection, animal care, and farm productivity enhance our competitive edge,” he added.
IFC CEO Jin-Yong Cai said: “This partnership supports food security by promoting agriculture productivity, rural employment, and environmental and social standards.”
