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JBS closes seven packing plants in Brazil

Oct 19, 2017, 17:19 PM by System
JBS closes seven packing plants in Brazil

Meatpacker JBS reportedly has closed seven of its packing plants in Brazil.  Various media reports say the closures, all in the state of Mato Grosso do Sul, are the result of a court-ordered $230 million asset freeze.

The freeze is tied to an investigation into alleged irregularities related to tax benefits granted to JBS by the state of Mato Grosso do Sul.

Brothers Wesley and Joesley Batista, who own JBS, were arrested last month on corruption and insider trading charges. 

Continue reading JBS closes seven packing plants in Brazil at Brownfield Ag News.

     

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