Tyson foods banned in Russia
EXCERPT:
Tyson Foods expects profit for quarter to drop 41%
By BLOOMBERG NEWS | September 5, 2002
SPRINGDALE, Ark. - Tyson Foods Inc. said yesterday that it expects its profit in the current quarter to fall as much as 41 percent as the world's largest meat producer spends money to close hog farms and discontinue a brand it bought last year. Profit for the quarter that will end Sept. 28 will range from 13 cents to 15 cents a share, Tyson said in a news release. That would be 22 cents less than in the year-earlier period. Tyson, Smithfield Foods Inc., Hormel Foods Inc. and other meat companies have been hurt by a drought in the United States that has raised prices for grain-based animal feed and by a Russian ban on U.S. poultry imports imposed in March because of food-safety concerns.