The name of Tyson Foods' meatpacking subsidiary IBP has been changed to Tyson Fresh Meats. The new title came into effect at the beginning of May, though the Tyson logo will not replace the IBP name on buildings until early summer.
IBP Fresh Meats, formerly Iowa Beef Processors, has been a valuable asset to the group. It is the world's largest supplier of premium beef and pork, and manufactures associated products such as tanned hides for leather production.
IBP meat products include boxed beef and pork, as well as case-ready packages of fresh meat sold under the Thomas E. Wilson consumer brand name.
Arkansas-based Tyson Foods purchased IBP in October 2001, a deal which established Tyson as the leading firm in meat production.
Tyson Foods now has a work force of over 120,000 spread across 22 countries. However, the group has begun to gradually phase out operations at its Maryland poultry complex, with a view to discontinuing work at the plant towards the end of 2003.
"This move is part of our company's ongoing plant rationalisation efforts," said Tyson Foods Foodservice Group vice president Bill Lovette. "This was an extremely difficult decision because it involves changes for a lot of people.
"We will be able to serve 100 per cent of our customers' needs with production from other Tyson locations, which will in turn create more efficient uses of the operating capacity of those facilities."