JONES CONTINUES SCRUTINY OF CHINESE TAKEOVER OF SMITHFIELD FOODS

Jul 1, 2013 Issues: Economy and Jobs, Agriculture

WASHINGTON, D.C. – Congressman Walter B. Jones (NC-3) has requested that the House Agriculture Committee hold a hearing on the proposed acquisition of Smithfield Foods, Inc. – the world’s largest pork producer and processor – by China’s Shuanghui International Holdings Limited.  In a letter to House Agriculture Committee Chairman Frank Lucas, Congressman Jones pointed out the national security issues presented by the merger, such as U.S. food safety and supply, as well as the possibility of damage to the American economy with the loss of domestic jobs.   

“This attempt by a Chinese company – which has a history of egregious food safety violations – to take over the world’s largest pork producer is not a situation that Congress can ignore,” said Jones. 

The Senate Agriculture Committee has already scheduled a hearing on the Smithfield transaction for mid-July.  Under the Foreign Investment and National Security Act of 2007, the Obama administration will make the final decision as to whether or not the merger is finalized.  Congressman Jones has previously signed a letter to the president, urging him to scrupulously review the proposed transaction and its implications for American food consumers.  If the merger is approved, it will be the largest-ever acquisition of an American corporation by a Chinese company.

A link to the full text of Congressman Jones' letter to Chairman Lucas is available at the link below.