JBS to produce less meat (and to be listed on New York Stock Exchange). Brazilian farmers respond to accusations

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They are planning their recovery through a few changes: to enhance their “added value”, while winking at New York. Such is the plan of Gilberto Tomazoni, global Chief Operating Officer at JBS. He talked about it during the annual meeting, held on December 7th, with investors and analysts. To begin with, they are about to focus their business on food, on large scale, thus moving a little bit away from the meat industry. In other words, Brazilian multinational corporation aims to turn from “a meat company” into “a global network for a variety of food commodities”, pointed out the manager. Yet, they still have to work out the big Lava Jato issue, the judicial scandal in which JBS top managers have been involved. The same scandal also delayed the listing of their US division (which oversees the extra-Brazilian activities of the group) on New York Stock Exchange. However, JBS, pointed out Tomazoni, keeps aiming at Wall Street IPO. While the multinational enterprise is planning their future development, Brazilian farmers respond to the Irish ones, who had firmly criticized the prospective agreement to import Brazilian meat in Europe at very convenient rates. CNA, the association of Brazil’s farming entrepreneurs, considers European accusations to be “self-righteous”, as Irish farmers believe (hinting at the Carne Fraca scandal) that South American meat is not compliant with European security standards. Why? Because Europe’s livestock and farming industry had its “scandals” too.

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