Chinese Parent of Smithfield Changes Name to WH GroupTue, 21 Jan 2014 15:45:43 CST
The Chinese processor that last year acquired Smithfield Foods Inc. has changed its name and its corporate logo even as it reportedly looks to sell $6 billion in stock to investors in Hong Kong.
Shuanghui International Holdings Ltd. is now known as WH Group Ltd. The new moniker is derived from the name Wanzhou Holdings, which comprises the Chinese characters representing "eternity" and "continents", respectively. The company also adopted a new logo depicting four streams representing the Earth’s four major oceans, which are separated into five parts that represent the planet’s continents, according to a WH Group release.
Officials at the Hong Kong-based company said the shift represents the global reach of its operations and symbolizes its ambition to be seen as a world-leading producer of pork and other food products around the globe. The company has stated its intent to focus on increasing its exports from the United States to Asia and to develop premium products from Smithfield for the Chinese market. WH Group closed its $7 billion acquisition of Smithfield - the largest purchase of a U.S. firm by a Chinese company - in September of 2013.
Click here for their website which has a brief explanation of the name change.
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