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News 411 views update:May 12, 2010

Tyson's Brazilian unit gets millions for poultry

US meat and poultry processor Tyson Foods has secured a 100-mln Brazilian real (US$51.4 mln) loan from Brazil's southern regional development bank (BRDE) to support its poultry suppliers.

Tyson will use the loan to help some 330 suppliers of poultry to modernize and expand their operations in Brazil's southern states of Parana and Santa Catarina, the a Tyson press officer reportedly said.

The loan will allow the suppliers to improve the supply of chickens to Tyson's three plants, he said.

It has also been reported that Tyson do Brasil is also talking to other banks seeking new lines of credit to offer similar help to other poultry producers, Dow Jones quoted Joster Macedo, the unit's president, as saying.

Source: CNNMoney

Natalie Berkhout

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