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JBS moves Brazilian operations to make tax savings

31-Aug-2011

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Brazil-based beef giant JBS has said it intends to move all its meat packing to other locations in Brazil in order to make tax savings.

The company said it would stop meat packing operations at its Presidente Epitacio unit in Sao Paulo state and shift output to another unit in Mato Grosso do Sul state. In addition, it said it would stop slaughtering and deboning at some units in Parana, Minas Gerais, Mato Grosso and Roraima states and move these operations to other locations.

 

JBS said it should be able to raise output from its domestic operations by about 5 percent due to the restructuring, and save about 200 million reais ($125 million) a year through reduced costs for taxes and overheads.