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  • Bloomberg

    Lula Reunites With Billionaire JBS Brothers as Brazil’s China Ties Deepen

    (Bloomberg) -- The billionaire Batista brothers’ stunning comeback is thrusting them into Brazil’s highest circles of power less than three weeks after their appointment to the board of JBS SA. Most Read from BloombergIsrael Versus Iran — What All-Out War Could Look LikeTexas Warns of Possible Power Emergency Next WeekIran’s Missile Barrage Was an Error Israel Can Gain FromApple’s iPhone Shipments Drop 10% as Android Rivals RiseIsrael Grapples With New Phase in Its Multi-Front War With IranWesle

  • Reuters

    JBS to double capacity of Brazil beef plant, make it Latin America's largest

    Brazil's JBS, the world's largest meat producer, will invest 150 million reais ($29.2 million) to double the slaughtering capacity at its Campo Grande II beef plant to 4,400 cattle per day, it said in a statement on Friday. The announcement, which happens after the plant received in March green light to export to China, was made during a visit of Brazil's President Luiz Inacio Lula da Silva to the unit, which is located in the state of Mato Grosso do Sul. JBS said the capacity expansion should be completed within a year, and will make Campo Grande II one of the firm's three largest plants in the world and Latin America's largest beef plant.

  • Reuters

    UPDATE 2-Brazil's JBS says Seara unit improving, US beef division facing challenges

    Brazilian meat-packer JBS SA expects margins of its Seara processed foods maker in Brazil to reach double digits in the first weeks of 2024, citing operational improvements designed to shore up the unit, executives said on Wednesday. JBS, which released financial results on Tuesday that were below analysts expectations, said Seara and the U.S. beef division presented the biggest challenges for the company last year, when it lost about 1 billion reais ($200.57 million) compared with a 15.457 billion real annual profit ($3.10 billion) in 2022. JBS shares dropped about 3% in early trading after the results, which were also negatively affected by global poultry oversupplies and high grain prices, especially in the first half of 2023.