United Kingdom

Profile: Seaboard Corp (SEB.N)

SEB.N on New York Stock Exchange

19 Jul 2019
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$31.98 (+0.79%)
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Seaboard Corporation, incorporated on July 24, 1946, is an agribusiness and transportation company. The Company is primarily engaged in pork production and processing, and ocean transportation. The Company's divisions include Pork, Commodity Trading and Milling, Marine, Sugar, Power, Turkey and Other. Overseas, the Company is primarily engaged in commodity merchandising, grain processing, sugar production and electric power generation.

Pork Segment

The Company's Pork Segment, through its subsidiary, Seaboard Foods LLC, is engaged in the business of hog production and pork processing in the United States. Through these operations, the Company produces and sells frozen pork products to further processors, food service operators, grocery stores, distributors and retail outlets throughout the United States. Internationally, the Company sells its products in Japan, Mexico, China and various other foreign markets. Other further processing companies also purchase the Company's fresh and frozen pork products. Fresh pork, such as loins, tenderloins and ribs are sold to distributors and grocery stores. The Company sells some of its products under the brand name Prairie Fresh. Its hog processing plant is located in Guymon, Oklahoma. It also has a ham-boning and processing plant in Mexico. The Company produces biodiesel at its facilities in Guymon, Oklahoma and St. Joseph, Missouri. The Pork Division has approximately 50% noncontrolling interest in Daily's Premium Meats, LLC (Daily's). Daily's produces and markets raw and pre-cooked bacon, ham and sausage under the Daily's brand name for the food service industry and retail markets.

Commodity Trading and Milling segment

The Company's Commodity Trading and Milling segment is engaged in agricultural commodity trading and processing, and logistics. It markets wheat, corn, soybean meal and other commodities in bulk to third parties and affiliated companies. This segment is managed under the name of Seaboard Overseas and Trading Group and conducts business through its subsidiaries, including Seaboard Overseas Limited, Seaboard Overseas Trading and Shipping (PTY) Ltd. and PS International, LLC, and its affiliates, including ContiLatin del Peru S.A., Interra International, LLC, Cereoil Uruguay S.A. and Plum Grove Pty Ltd. It also operates an ocean transportation brokerage operation through Seaboard Bulk Services, Ltd. As of December 31, 2016, the segment also operated grain and feed milling, and related businesses with 41 locations in 22 countries. The grain processing businesses are operated through its affiliates in Africa, South America, the Caribbean and Asia.

Marine Segment

The Company's Marine Segment operates through its subsidiary, Seaboard Marine Ltd., and various foreign affiliated companies and third-party agents. As of December 31, 2016, its third-party agents provided cargo shipping services to 26 countries between the United States, the Caribbean Basin, and Central and South America. It uses a network of offices and agents throughout the United States, Canada, Latin America and the Caribbean Basin to book cargo to and from the United States and between the countries it serves. The Company's primary marine operation is located in Miami and includes a terminal located at PortMiami and off-dock warehouses for cargo consolidation and temporary storage. It also operates a cargo terminal facility at the Port of Houston that includes an on-dock warehouse space for temporary storage of bagged grains, resins and other cargoes. As of December 31, 2016, it also made scheduled vessel calls in Brooklyn, New York, New Orleans, Philadelphia, Pennsylvania and 50 foreign ports.

Sugar Segment

The Company's Sugar segment operates through its subsidiaries, Ingenio y Refineria San Martin del Tabacal S.R.L. and Alconoa S.R.L., as well as other Argentine affiliates, which grow sugar cane. It uses this sugar cane to produce refined sugar and alcohol. The segment also purchases sugar from third parties mostly within Argentina for subsequent resale. Its sugar products are sold in Argentina to retailers, soft drink manufacturers and food manufacturers with exports to the United States and other South American countries. As of December 31, 2016, the segment owned a 51-megawatt cogeneration power plant.

Power Segment

The Company's Power segment operates through its subsidiary, Transcontinental Capital Corp. (Bermuda) Ltd., which is engaged in generating electricity for the local power grid in the Dominican Republic. The Company operates a floating power generating facility. The facility is secured on the Ozama River in Santo Domingo, Dominican Republic. The Company primarily sells power on the market accessed by government-owned distribution companies or partially government-owned generation companies.

Turkey Segment

The Company also has interest in Butterball, LLC (Butterbal). Butterball is a producer, processor and marketer of branded and non-branded turkey and other products. Butterball has four processing plants, three further processing plants and various live production and feed milling operations located in North Carolina, Arkansas, Missouri, Illinois and Kansas. Butterball supplies products to retail and foodservice outlets and also exports products to Mexico and various other foreign markets.

Other Businesses

The Company's Other Businesses include purchasing and processing jalapeno peppers at its plant in Honduras. The processed peppers are shipped to and sold in the United States.

Company Address

Seaboard Corp

9000 W 67th St
SHAWNEE MISSION   KS   66202-3638
P: +1913.6768800

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