Tyson Foods to Rebuild Kansas Beef Plant and Pay Workers Following Fire

Date : 08/12/2019 @ 12:30PM
Source : GlobeNewswire Inc.
Stock : Tyson Foods (TSN)
Quote : 85.93  -2.03 (-2.31%) @ 1:00AM
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Tyson Foods to Rebuild Kansas Beef Plant and Pay Workers Following Fire

Tyson Foods (NYSE:TSN)
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A fire partly destroyed the Tyson Foods beef plant in Holcomb, Kansas on Friday, August 9. The plant will be down indefinitely, however; the company plans to rebuild the plant at the same location. Officials are still assessing the damage, so it’s too early to establish a timeline, but work to clear damage has already begun.

“This is a difficult time for our team members and their families, and we want to ensure they’re taken care of,” said Steve Stouffer, group president of Tyson Fresh Meats. “Today, we will notify our full-time, active team members that they’ll be paid weekly until production resumes.”

Stouffer said the team members may be called on to work during this time to help with clean-up and other projects, but regardless of the hours worked, all full-time active employees are guaranteed pay.

“We’re taking steps to move production to alternative sites,” Stouffer said. “Tyson Foods has built in some redundancy to handle situations like these and we will use other plants within our network to help keep our supply chain full.” Stouffer commended plant management for quickly and efficiently evacuating the building. As a result of their actions, there were no injuries reported during the fire. The company greatly appreciates the hard work, dedication and help from the Holcomb and Garden City, Kansas fire departments, as well as the Finney County sheriff’s office.

Tyson Foods operates six plants in Kansas, employing more than 5,600 people. In the company’s fiscal year 2018, it paid $269 million in wages within Kansas and estimated its total economic impact in the state to be more than $2.4 billion.

About Tyson Foods, Inc.

Tyson Foods, Inc. (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company had 121,000 team members at September 29, 2018. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com.

Media Contact: Worth Sparkman, 479-290-6358, worth.sparkman@tyson.com

Category: IR, Newsroom

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