Tyson announces expansion in Brazil

SPRINGDALE, Ark. (AP) -- Tyson Foods Inc. says it's bought two poultry companies and has acquired majority ownership in a third in southern Brazil, home to the country's biggest producers of corn and soybeans.

Terms of the deal were not disclosed.

The Springdale, Ark.-based meat producer announced Thursday its agreements with the companies. Tyson says it will buy Macedo Agroindustrial and Avicola Itaiopolis, both in the state of Santa Catarina. Tyson says it has acquired a 70 percent ownership of Frangobras, located in the state of Parana.

Tyson's international president, Rick Greubel, says the company is expanding into Brazil because the country is the world's leading chicken exporter and third largest chicken producer behind the United States and China.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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