Tyson in running to buy overseas poultry plants
Tyson Foods is one of five companies bidding for Asian and European chicken plants owned by BRF SA, Bloomberg reported recently.
Both Tyson and Brazil-based BRF declined comment, according to Bloomberg, which reported that "the sale process is part of BRF’s $790 million divestment plan to ease its debt burden. It received non-binding offers from eight companies, five of which were chosen to remain in the process, Chief Executive Officer Pedro Parente said Nov. 8."
Bloomberg also reported that Tyson is looking to expand overseas "to help absorb volatility in U.S. agriculture markets. This year and last, it’s spent more than $7.2 billion in takeovers, including an August agreement to buy chicken-nugget maker Keystone Foods LLC, which has operations in the U.S. and Asia, from Brazil’s Marfrig Global Foods SA."
Based in Springdale, Arkansas, Tyson has poultry processing plants in Monett and Noel, as well as many growers in Southwest Missouri.
Ducommun announces new credit agreements
Ducommun Inc. this week announced that it has entered into a new credit agreement, consisting of a $100 million revolving line of credit and a $240 million term loan, to replace its existing debt structure.
In connection with the transaction, the company said it also extinguished its existing $200 million revolving line of credit and its $275 million term loan, both of which mature in June 2020.
The new revolving line of credit matures in November 2023 and the new term loan matures in November 2025.
“This new credit facility will provide financial support through 2025,” Stephen G. Oswald, Ducommun's chairman, president and chief executive officer, said in a statement. “Ducommun has made tremendous strides in the last two years positioning the company for higher growth and improved operating performance. The refinancing of our debt allows for stability and flexibility as we continue to move forward building the business.”
Ducommun has plants in Joplin and Parsons, Kansas
People in business
DR. WILLIAM SULLIVAN and PATRICIA SULLIVAN, a doctor of nursing practice and certified nurse practitioner, will join Freeman Midwest Internal Medicine at 608 Willard St. in Frontenac, Kansas.
After earning his medical degree at Kansas City University of Medicine and Biosciences, William Sullivan completed his residency in internal medicine at St. Louis University School of Medicine. He is board-certified with the American Board of Internal Medicine.
After earning her bachelor's in nursing from Pittsburg (Kansas) State University, Patricia Sullivan completed her master's and doctorate at the same school. She is board-certified with the American Academy of Nurse Practitioners.