1132 ET - JBS, the world's largest meatpacker, says it's investing $200 million in two of its largest U.S. beef plants at a time when meatpackers are broadly struggling to make a profit because of a lack of cattle, driving up costs. The company said $150 million will go to its Cactus, Texas, plant to improve the part of the facility where carcasses are processed into primal cuts and expand its ground beef room. JBS says it will put $50 million toward its Greeley, Colo., plant to build a new distribution center. JBS said the investments will improve efficiencies and could increase production capacity at the two plants that both have the capability to slaughter about 6,000 cattle a day. "We believe now is the time to invest in the United States," said Wesley Batista Filho, JBS' U.S. CEO. (patrick.thomas@wsj.com)
(END) Dow Jones Newswires
February 04, 2025 11:32 ET (16:32 GMT)
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