Page 25 - ARUBA TODAY

BUSINESS Wednesday 6 september 2017
A25

Tyson Foods to invest $320M in new chicken plant in Kansas

TONGANOXIE, Kan. (AP) veiled its plans during a of incentives “appropriate “We were competing with mand for fresh chicken,”
— Tyson Foods Inc. will in- news conference in Ton- to a project of this size” to other states.” The compa- Tyson President and CEO
vest $320 million in a new ganoxie with Gov. Sam attract the plant, said Kevin ny plans to buy a 300-acre Tom Hayes said in a state-
chicken-processing plant Brownback and other state Doel, a spokesman for the site and also build a hatch- ment. The plant will be able
in northeastern Kansas em- and local officials. state Department of Com- ery and feed mill. It expects to process 1.25 million birds
ploying 1,600 people so The company plans to build merce. He declined to pro- to break ground on the a week, and the company
that it can keep up with the plant outside the town vide details, noting that the project this fall. plans to contract with local
a growing consumer de- of about 5,300 residents department does not re- “We believe this new op- farmers. It and state and lo-
mand for fresh poultry, the about 30 miles (48 kilome- lease such information un- eration, which will incorpo- cal officials project that the
company and state offi- ters) west of Kansas City til contracts with the state rate the latest production plant’s payroll, payments
cials announced Tuesday. and expects it to be open are signed. “We certainly technology, will enable to farmers and purchases
The Smithfield, Arkansas- in mid-2019. Kansas offered needed to bring something us to meet the sustained of feed and utilities will total
based meat-producer un- the company a package to the table,” Doel said. growth in consumer de- $150 million a year.q
Lego looks a little wobbly after building itself high

By JAN M. OLSEN lion).
Associated Press Classic toy lines, such as
COPENHAGEN, Denmark “Lego City,” did well, as did
(AP) — For Lego, it’s time to products associated with
break down the blocks and “The Lego Batman Movie.”
start again. But revenue in other lines
After building up sales ag- did not do as well, with in-
gressively since a near vestments in some new
bankruptcy in 2004 through products not yielding the
new ventures like films and desired benefits.
new toy lines, the company Analysts said that while the
seems to have hit a peak. revenue drop was disap-
Its sales are now falling for pointing, it had to come at
the first time in 13 years and some point after years of
it says it needs to simplify its growth.
operations. “You hit a peak,” said Jim
That means cutting 1,400 Silver, the CEO and editor
jobs, or eight percent of its in chief of toy review site
global workforce. TTPM. “Nothing keeps go-
The privately held Dan- ing up like that.”
ish firm said Tuesday that Silver said the company
it “now prepares to reset grew rapidly as it launched
the company,” with a new In this Tuesday, April 5, 2016 photo, an employee sorts Legos in the new LEGO flagship store new products, such as its
CEO due to take over in unveiled as part of the new Les Halles shopping mall during the press visit in Paris. Danish toy Lego Friends line aimed
October. maker Lego said Tuesday, Sept. 5, 2017, it will cut 1,400 jobs, or about eight percent of its global at girls. “The Lego Movie,”
“We will build a smaller and workforce, after reporting a decline in sales and profits in the first half of 2017. which was released three
less complex organization (AP Photo/Francois Mori) years ago, helped, too.
than we have today, which man Joergen Vig Knud- the year, to 14.9 billion kro- and Europe, where sales Looking ahead, Silver said
will simplify our business storp. ner ($2.4 billion), mainly as had risen strongly for years. Lego has some bright spots:
model in order to reach Revenue dropped 5 per- a result of weaker demand Profits slipped 3 percent to Its “Star Wars” sets are sell-
more children,” said Chair- cent in the first six months of in key markets like the U.S. 3.4 billion kroner ($544 mil- ing well.q

US factory orders tumbled 3.3 percent in July

By MATT OTT cent in July after a 129.3 Despite the sharp fall in customers. A private sur-
Associated Press percent gain last month. overall orders, the increase vey last week showed that
WASHINGTON (AP) — Or- Excluding the transporta- in the business investment U.S. factories expanded
ders at U.S. factories tum- tion sector that includes category suggests com- at a brisk pace in August,
bled in July, dragged down aircraft, factory orders rose panies are more optimistic another bright sign for the
by a sharp fall in orders for 0.5 percent in July after a about future demand from overall economy. q
civilian aircraft. tiny 0.1 percent uptick last
The Commerce Depart- month. A category that
ment said Tuesday that serves as a proxy for busi-
factory orders declined 3.3 ness investment posted a
percent in July, after a 3.2 solid 1 percent gain after a
percent gain last month. small 0.1 percent decline in
July’s decline was mostly June. In recent months, U.S.
because of a 19.2 percent manufacturing has been
drop in orders in the volatile benefiting from a stronger
transportation equipment dollar and an improving
category. Orders for civil- global economy. Growth
ian aircraft — which can has been picking up in Eu-
vary wildly from month to rope, Japan and parts of
month — tumbled 70.8 per- the developing world.