The investment includes the construction of a new feed mill in Pinckard, Ala., and a $10 million renovation of the processing facility in Enterprise, Ala.
Pilgrim's Pride Corp. reports second quarter 2013 financial results with net sales of $2.2 billion, compared to $2.0 billion reported in the second quarter of 2012.
Although the involvement of JBS with the Pilgrim’s Pride facilities takes a slightly different approach, it remains invested in and accessible to all its chicken-processing plants.
In 2009, JBS made the decision to invest in the U.S. chicken market, and pull Pilgrim’s Pride from bankruptcy, gaining a controlling interest in the chicken processor and beginning a monstrous turnaround project that continues today.
The company recognized net income of $39.6 million during the first quarter of 2012, compared to a loss of $119.9 million in the same quarter of the prior year.
"While 2011 was an extremely challenging year, it was also transformational with respect to Pilgrim's operating model," stated Bill Lovette, Pilgrim's CEO.
Pilgrim's Pride Corp. reported a net loss of $162.5 million, or $0.76 per share, on net sales of $1.9 billion for the third quarter ended September 25, 2011.