Tyson Foods to build $70 million hatchery in Hope
Completion of the 131,000 square foot hatchery in Hope is expected by late 2024. The new hatchery is expected to triple capacity and add to "operational efficiencies" at Tyson’s nearby processing operations in Hope, in Hempstead County, and Nashville, in Howard County. In 2022, the Tyson invested $67 million in its Hempstead County operations, including a feed mill, according to the release.
The current hatchery workers will provide the manpower for the new operation along with additional new hires, the company said in a release.
The new, larger hatchery will also provide contract opportunities for current and prospective poultry farmers in an approximate radius of 30 to 50 miles of the complex.
"This investment is another way to demonstrate our long-term commitment to our home state of Arkansas and the Hope and Nashville communities", Donnie King, president and chief executive officer of Tyson Foods, said in a statement.
In 2022, the company saw $53 billion in sales with 32% of those sales attributed to its chicken segment. The company’s earnings report of its first quarter sales and profits released in February widely missed analysts' estimates with the company saying all its meat segments lagged because of inflation and economic pressure on its customers.
The company’s poultry division in particular has struggled over recent quarters.
In late January, Tyson Foods named a new group president of its poultry division. Wes Morris, who began working for Tyson in 1999, held several posts including heading up the company’s prepared foods operations before his retirement in 2017. Morris returned and replaced David Bray, who had led the division since 2021, and has left the company.
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