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Ranchers.net

Tyson's capital spending to top $560 million



MEATPOULTRY.com

May 15, 2006

by MEAT&POULTRY Staff



SPRINGDALE, ARK. — In its quarterly filing with the U.S. Securities and Exchange Commission, Tyson Foods, Inc., is expecting its capital spending during the 2006 fiscal year to be $560 million.



In the report, the company said the spending is to cover costs to build a third case-ready plant, construction at its headquarters (including a new office tower), expanded product development kitchens and a pilot plant.



"The new facilities will also provide space for the consumer insights group and make provisions for team member development activities and a variety of other projects that will increase automation and support value-added product growth," the company said in the S.E.C. filing.



Tyson sustained a loss of $127 million for the second quarter of fiscal 2006, which ended April 1. During the second quarter of fiscal 2005, the company reported a net income of $76 million, equal to 23c per share on the common stock.



Sales for the quarter were $6,251,000,000, which compared with $6,359,000,000 for the same period during fiscal 2005.





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