Tyson Fresh Meats to Invest $47 Million in Lexington Beef Facility

On March 17, 2015, in Lexington, NE, Tyson Fresh Meats, Inc. announced its intention to allocate $47 million towards the construction of a new and larger boxed beef warehouse. This move is part of the company's ongoing efforts to ensure the prosperity of its Lexington facility, as shared with local community leaders. The project, set to commence this spring, will see the erection of a 50,000 square foot warehouse at the southeast corner of the existing beef complex. The completion of this project, anticipated by mid-2016, will enhance the plant’s boxed beef storage and distribution systems in terms of flow, efficiency, and capacity. However, it is not projected to create additional jobs at the plant, which currently employs over 2,700 individuals and has an annual payroll of $86 million. Steve Stouffer, president of Tyson Fresh Meats, stated, "Our Lexington plant is a crucial component of our beef business, and we are reinvesting in it to ensure its ongoing operation." He added, "We are grateful for the support we have received from our team members, local cattle farmers, and the Lexington community since the plant's inception nearly 25 years ago. We want to reassure them that our facility will continue to significantly contribute to the local economy for many more years." The Lexington beef complex, operational since 1990, produces a variety of fresh beef cuts like ribs, loins, chucks, and rounds, along with different ground beef products. These products are vacuum-sealed and boxed for distribution to retail and foodservice customers across the U.S. and abroad. In the fiscal year 2014, the company invested over $2.2 billion to purchase cattle for the plant. Tyson Fresh Meats is a division of Tyson Foods, Inc., which employs nearly 9,000 individuals in Nebraska. The company operates additional facilities in Dakota City, Madison, and Omaha. About Tyson Foods, Inc. Tyson Foods, Inc. (NYSE: TSN), headquartered in Springdale, Arkansas, is among the world's largest producers of chicken, beef, pork, and prepared foods. Its portfolio includes leading brands such as Tyson®, Jimmy Dean®, Hillshire Farm®, Sara Lee® frozen bakery, Ball Park®, Wright®, Aidells®, and State Fair®. The company was established in 1935 by John W. Tyson, and his family has continued to lead the business, with his son, Don Tyson, and grandson, John H. Tyson, serving as past and current chairmen of the board of directors, respectively. Tyson Foods offers a broad range of protein-based and prepared foods products and is a recognized leader in the retail and foodservice markets it serves, supplying customers in the United States and around 130 other countries. It employs approximately 124,000 team members at over 400 facilities and offices globally. Guided by its Core Values, Code of Conduct, and Team Member Bill of Rights, Tyson Foods operates with integrity and trust, and is committed to creating value for its shareholders, customers, and team members. The company also aims to be faith-friendly, provide a safe work environment, and serve as stewards of the animals, land, and environment entrusted to it. Contact: Gary Mickelson, 479-290-6111, gary.mickelson@tyson.com