|Bid||8.760 x 0|
|Ask||8.780 x 0|
|Day's range||8.760 - 8.890|
|52-week range||5.660 - 9.310|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.26 (2.83%)|
|1y target est||9.38|
China pork producer WH Group is dialing back growth hopes for its U.S. unit Smithfield in the mainland amid weak demand, with a new plant there operating at just a third of capacity and plans for another factory postponed, group executives said. WH Group, the world's biggest pork producing company, bought top U.S. pork producer Smithfield in 2013 for $4.7 billion (3.52 billion pounds), at the time the largest takeover of a U.S. company by a Chinese buyer. The deal gave the Chinese firm access to expertise in processing the Western products increasingly popular in China's major cities.
LUOHE/ZHENGZHOU, China (Reuters) - WH Group , the world's top pork producer, is adding new varieties of packaged foods to counter slowing Chinese pork demand and woo the expanding middle class of the world's most populous nation that is embracing a wider diet of meats. Drawing on the expertise of its Smithfield business in the United States, WH's domestic unit Shuanghui Development is launching products that meet regional flavours and satisfy the demand for snacking and convenience, while also boosting its range of premium fresh chilled meats. "First, we want to bring in more Western products, and second, we want to develop more industrialised Chinese products," Chairman and Chief Executive Wan Long told reporters last week at the company headquarters in Luohe, central China.