SAO PAULO, BRAZIL – JBS S.A. recently announced it has not observed any reduction in margins in its activities in Brazil during the first two months of 2009. Furthermore, it is performing a study in March to evaluate which of its plants will have production increased, which could result in the hiring of up to 5,000 new workers during the first half of 2009, it said in a news release.
"As a manner of compensating possible losses to ranchers, the company is also reducing the discount for cash payment for the purchase of cattle from 4% to up to 2% per month," the company added. "These actions serve to contribute towards an orderly off-take of cattle, as well as to maintain a balanced consumer market, resulting in the preservation of jobs, the strengthening of the beef production chain and the expansion of the market share of the company in the beef sector."
JBS S.A. is the world's largest beef producer and exporter with a daily slaughtering capacity of 65.2 thousand head of cattle and the largest global exporter of processed beef.
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