Tyson Says Hurricane May Cost It $20 Million
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Tyson Foods Inc., the world’s largest meat processor, said the shutdown of four plants in Mississippi because of Hurricane Katrina would cost the company $10 million to $20 million.
The estimate reflects lost production from the shutdowns, the loss of some live birds and the loss of frozen products that were in storage in Mississippi and Louisiana, Springdale, Ark.-based Tyson said.
Tyson said the loss would reduce its estimated profit for fiscal 2005 by 3 cents a share to a range of 92 cents to $1.02.
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