Shuanghui International Holdings Limited, parent company of Smithfield Foods, announced that it has entered into a US$8 billion (RMB50 billion) non-binding strategic cooperation framework agreement with Bank of China. Shuanghui International and its subsidiaries would have the flexibility to utilize the proposed services and new funding arrangements to invest in operations, fixed assets, international trade initiatives, potential mergers and acquisitions, and other corporate purposes.

"Bank of China has been an essential, long-standing partner throughout our growth, and we are deeply grateful for their strong and sustained support as we continue to explore ways to profitably expand our business worldwide," said Shuanghui International Chairman and Chief Executive Officer Wan Long.

Source: Shuanghui International Holdings Ltd.