Smithfield, Va. —Smithfield Foods Inc. announced Jan. 12 that the Smithfield Innovation Group product development facility has been closed. Its closing was one of many recent cost-reduction efforts, a company spokesman wrote in an e-mail to MEATPOULTRY.COM.
In 2003, Smithfield Innovation Group was formed to facilitate the development of new products for customers. As a result of the Group’s dismantling, Smithfield said product development will be done at the independent operating company level. New product development activity was continuing at its usual pace, the company claimed.
Will Smithfield revive the Smithfield Innovation Group once the economy and industry improves? The spokesman answered "no comment."
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