Tyson Foods Inc. is undergoing a $13.5 million expansion at its Robards, KY-based poultry plant, which is designed to upgrade the company’s product mix to better meet consumer demand.
Tyson's latest investor report showed its commitment to accelerate growth of domestic value-added chicken sales, and talked about company innovation and cultivating the development of team members to support future growth.
Earlier this month, Tom Hayes, Tyson’s president and incoming chief executive officer, told investors at the Bernstein Consumer Summit that the company sees more growth in its retail and foodservice businesses.
“We continue to see success in leveraging consumer insights in our prepared foods’ business, and the most recent data indicate that our Core 9 categories and foodservice top tier offerings continue to outperform the industry,” Hayes said at the time. “This growth, coupled with beef and pork segments performing well in excess of their normalized ranges, has us poised to achieve our best quarter in history.”
Meat and poultry sales have both been strong in 2016 with analysts predicting continued increases for next year, so other meat and poultry companies could follow Tyson's lead and expand further as well.