Tyson Foods 2003 Annual Report Download - page 8

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6Tyson Foods, Inc.
Donations to Share Our Strength
reached 7.5 million pounds of
food, exceeding the 6.5 million
pound goal a year and a half
earlier than planned. Sent
volunteers and products to the
Pentagon and Ground Zero in
New York to help feed workers
and other volunteers.
Met first year target of $50 million in
synergies. Acquisition was accretive
to earnings in the first year. Reduced
debt by $915 million. Tyson stock
outperformed the S&P 500 Index.
To increase efficiency, transferred former Food
Brands companies acquired with IBP to Tyson
information systems. Announced plans to close
or consolidate poultry operations in Stilwell,
Oklahoma, Jacksonville, Florida, Berlin, Maryland,
and Pine Bluff, Arkansas. Acquired a bacon
processing facility and Choctaw Maid Farms.
Team members embrace Tyson’s Core
Values and How We Will Win strategy.
Completed Being, Doing, Doing It Well
initiative to “do what we do better.”
Initiated Project Plan-It to standardize
planning across all poultry business
units and Project Won to create
processes and systems for the future.
on course
Since the cash tender offer to acquire IBP, inc. in August 2001, Tyson Foods has
marked many milestones and accomplishments on the course to becoming the
world’s largest producer and marketer of chicken, beef and pork and the second
largest food company in the Fortune 500.