November 9, 2006

Seaboard reports 16 percent increase in profits, plans further expansion

Seaboard Corp, the owner of Kansas-headquartered pork processor Seaboard Foods the third largest pork producer in the US, reported a 6.2 percent increase of third quarter revenues on-year.

The company earned US$61.2 million in the 2006 third quarter - up 16 percent from the $52.6 million it earned in the same quarter one year ago.

Seaboard Foods is also spending US$40 million on a second processing plant in Guymon, Oklahoma. Construction is expected next year.

The company would also build a US$34 million biodiesel processing plant at Guyman that would use byproducts from the pork plant.