SIMIC

WH Group slaughters 15 million pigs a year, but only raises about 400,000 as the rest are purchased from other suppliers.

In an attempt to lessen reliance on the US and China for about 90 per cent of sales, WH will change its earnings structure and attempt to expand further into the large European markets.

WH also said that it will sell its US-based Saratoga Food Specialties seasoning maker to Solina Group, a European company in the same business, through its wholly owned US subsidiary Smithfield Foods. The deal, valued at US$587 million, is expected to be completed by the end of the year.

Saratoga Food posted $280 million in annual sales through development, production and sales of sauces and dressings. WH said in a news release that it will reallocate proceeds from the deal for future investment in the US.