Solar tube maker adds 129 jobs in Tennessee
A Portugese-based fabricated steelmaker that serves the growing solar power industry is opening its first U.S. plant in Tennessee.
MSS Steel Tubes USA LLC officials announced Wednesday it will invest $6 million to retrofit an existing facility in Memphis, which will create 129 new jobs. Company officials said the Memphis location will position MSS Steel Tubes to better serve its U.S. customer base of solar panel manufacturers.
MSS Steel Tubes USA LLC is a subsidiary of MSS Steel Tubes SA, which is based in Portugal, with participation from Metalogalva Group, from Portugal, and Soufer Group, from Brazil.
"Our business relies heavily on fast, affordable and reliable transportation, and Memphis is uniquely positioned to meet our requirements," Margarida Caetano, the chief financial officer of the Metalogalva Group, said in a statement. "This region is a destination of choice for manufacturers, and we believe that we will find locally the answer to a wide range of ancillary needs to our industrial activity."
Once MSS Steel Tubes becomes operational in Tennessee, Metalogalva Group will employ more than 1,800 people across its production facilities in four continents.
Fabuloso recalls cleaning product
About 4.9 million bottles of multipurpose cleaning product Fabuloso have been recalled because they may contain a bacteria that can cause a serious infection in people with weakened immune systems and others with health risks, the Consumer Product Safety Commission said Wednesday.
The recalled products were sold online through Amazon and other websites as well as in brick-and-mortar stores -- including Dollar General, Family Dollar, Walmart and Home Depot from December 2022 through January. Several sizes of Fabuloso were recalled in scents including lavender, lemon and ocean.
Fabuloso's manufacturer, Colgate-Palmolive, said in a statement that a preservative had not been added "at the intended levels" during the manufacturing process and that the "inadequate" amount of the preservative might have allowed bacteria to grow.
Pilgrim's Pride reports quarterly loss, yearly profit
Pilgrim's Pride Corp. on Wednesday reported a loss of $155 million, or 66 cents per share, on revenues of $4.1 billion in its fourth quarter.
The Greeley, Colorado-based poultry company said quarterly losses, adjusted for one-time gains and costs, were 49 cents per share.
But for all of 2022, Pilgrim's Pride reported a profit of $745.9 million, or $3.11 per share, on revenues of nearly $17.5 billion.
"Our performance in the U.S. highlights the benefits of key customer partnerships, diversification across bird sizes as well as branded offerings as means to mitigate dramatic market changes," said Fabio Sandri, chief executive of Pilgrim's Pride. "Even with an extremely challenging fourth quarter, the U.S. grew year-to-date net sales and adjusted EBITDA compared to last year."
Sandri said Pilgrim's Pride, which operates major poultry plants in Chattanooga, is expanding its plant in Athens, Georgia, and building a protein conversion plant in South Georgia to help improve future operations.
– Compiled by Dave Flessner