Wan Long, the chairman of Shuanghui International Holdings Ltd. Won Smithfield Food Inc. acceptance last week. He explains the reason why he was able to lunge at a US$4.7 billion deal with Smithfield after he turned a single hog processing plant into China's biggest producer.
The acceptance of Shuanghui is said to be the largest gain for China of a US company. Wan Long is driven towards reshaping food safety and production in China pointing to it as the major cause for this acceptance. He is also seeking technology along with foreign experts to arrive to his objective.
Yearly, Chinese consumers buy a total of US$183 billion pork meat. This includes choice cuts on pork feet, pig head and offal that are not as popular in the US market. The country's pig farms are also smaller compared to that of US. Controversies regarding unclean practices on pig slaughter and waste disposal also confronted China.
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