March 4, 2009
JBS to boost production and manpower amid economic slowdown
Brazilian meatpacker JBS SA said Monday (Mar 2) it is planning to increase production and hire more workers in the face of problems faced by competitors.
JBS has not observed any reduction in margins in its activities in Brazil during the first two months of 2009, the company said.
The company plans to increase production at selected processing plants and could hire up to 5,000 new workers in the first half of 2009.
JBS made the announcement local meatpacker Independencia Alimentos, Brazil's fifth-largest beef company, filed for protection from creditors.
Independencia said a sharp decline in beef demand from Russia and insufficient access to credit forced the company to file for the equivalent of US bankruptcy protection.
Brazil is the world's leading beef exporter.
