Smithfield Foods Releases Annual Corporate Social Responsibility Report

Published on Thursday, 22 July 2010 16:42 Written by TradersHuddle Staff

SMITHFIELD, Va., July 22, 2010 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (NYSE:SFD) today released its ninth annual Corporate Social Responsibility (CSR) Report, which highlights the company's progress in environmental performance, animal welfare, food safety, community relations, and employees — key CSR areas for the company and its stakeholders.

The 100-page report also includes a retrospective that will give readers a better understanding of where the company started, the challenges it has faced, and how far it has come on its CSR journey. The content focuses primarily on calendar year 2009, but includes fiscal 2010 financial information and discussion of some key developments that occurred in early 2010. Smithfield's fiscal year runs from May through April.

In addition, the report introduces Smithfield's strengthened CSR governance and management structure, including a series of new goals and corresponding targets. Specific goals include the following:

• Reduce natural resource use (energy and water) and solid waste by 10 percent over fiscal 2008 numbers (normalized) by fiscal 2016
   
• Maintain 100 percent Pork Quality Assurance Plus Certification for our hog production facilities
   
• Provide the needy with 1 million servings of food per year and continue to enhance education in local communities
   
• Meet or beat the general manufacturing industry national average for injuries
   
• Obtain 100 percent Global Food Safety Initiative (GFSI) certification for all facilities

Smithfield also announced that it has two new sustainability committees—the Sustainability, Community, and Public Affairs Committee composed of board members, and a corporate Sustainability Committee made up of top executives from across the company.

"CSR is now deeply embedded in our company culture, from the executive suite and boardroom to the farms where our workers take care of our animals—and every level in between. Our company's future performance is intrinsically linked to our performance on sustainability issues. We are committed to transparency as we report on our progress and on our challenges," said C. Larry Pope, president and chief executive officer.

"When I joined Smithfield Foods almost a decade ago, the company was aiming to improve its performance. Over the years, we have transformed ourselves into a company that is leading our industry in many areas, including environmental performance, animal well-being, and the health and safety of our employees. We understand that managing CSR is integral to producing good business results and essential to maintaining good relationships with all our stakeholders," added Dennis H. Treacy, senior vice president of corporate affairs and chief sustainability officer.

The Smithfield Foods 2009/10 Corporate Social Responsibility Report is available on the company's website at http://www.smithfieldfoods.com/responsibility/reports.aspx.

About Smithfield Foods

With sales of $11 billion, Smithfield Foods is the leading processor and marketer of fresh pork and packaged meats in the United States, as well as the largest producer of hogs. For more information, visit www.smithfieldfoods.com.

The Smithfield Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7622

CONTACT:  Smithfield Foods, Inc.
          Keira Ullrich
          (212) 758-2100
          
 This e-mail address is being protected from spambots. You need JavaScript enabled to view it.