January 24, 2007

Swift & Co may be sold

US-based Swift & Company, the world's leading  processor of fresh beef and pork products, has been considering selling the company.

The privately held Swift, which was targeted by a wide-scale immigration raid last month, is looking into strategies ranging from refinancing to a sale or initial public offering, according to a report in the "Denver Post".

 The decision, company executives said was made after they received some unsolicited inquiries over the past six months,

The company might find it more lucrative to sell its assets separately instead of as a whole or testing the market with a stock offering, analysts said.

The company announced 58 layoffs at its Greeley headquarters last week and said it took other cost-cutting steps to improve its competitive edge.