June 10, 2009
Tyson Foods secures US$51.4 million for poultry suppliers
US meat and poultry processor Tyson Foods has secured a 100-million Brazilian real (US$51.4 million) loan from Brazil's southern regional development bank (BRDE) to support its poultry suppliers.
According to officials, the company will use the loan to help some 330 suppliers of poultry to modernise and expand their operations in Brazil's southern states of Parana and Santa Catarina.
Officials said the loan will allow the suppliers to improve the supply of chickens to Tyson's three plants.
It has also been reported that Tyson do Brasil is also talking to other banks seeking new lines of credit to offer similar help to other poultry producers.
