JBS invests in Vietnam, prepares for dual listing
Food and tannery group JBS is to invest $100 million building two factories in Vietnam, producing beef, pork and poultry, primarily using raw materials imported from Brazil and creating 500 jobs.
Renato Costa, president of JBS-owned beef packer Friboi, said: "The partnership between JBS, the Vietnamese government, and our local partners represents a critical strategic step in our geographic diversification.
"This move not only strengthens our ability to serve the local market but also expands our global presence, creating a robust and sustainable supply chain that positions us even more competitively in the international market.”
Shareholders have also approved the company’s proposal for a dual listing. Its shares will begin trading on both the New York Stock Exchange (NYSE) and the São Paulo Stock Exchange (B3) this month.
