Coastal company Seaboard Corporation (NYSE MKT: SEB) was founded in 1918 and is headquartered in Merriam, Kansas, USA, with 12,000 full-time employees. It is a global and diversified agricultural enterprise and transportation company.
Seaboard Corporation (SEB):
Seaboard Corporation is mainly engaged in meat processing and transportation. The company’s local business includes pork processing, poultry and livestock meat processing and cargo transportation, and its international business is mainly engaged in commodity sales, grain processing, sugar production and processing, and power generation.
Seaboard Corporation’s subsidiaries include : Seaboard Foods, Seaboard Marine, Seaboard Overseas & Trading Group (SOTG), Tabacal Agroindustria, Transcontinental Capital Corporation, Ltd. (TCCB), Mount Dora Farms and owns a 50% non-controlling interest in Butterball, LLC. Its main operating departments include: Pork, Commodity Trading and Milling, Marine Tabacal Agroindustria Transportation (Marine), Sugar (Sugar) and Electricity (Power).
- Seaboard Foods: A leading pork producer and processor in the United States, and a comprehensive producer of pork products;
- Seaboard Marine: provides container shipping services between 26 countries in the United States, the Caribbean, Central America and South America. As of December 31, 2016, its fleet includes 22 chartered vessels and 3 self-owned vessels, as well as dry /Refrigeration and special containers, and other related equipment;
- Commodity Trading and Milling: mainly engaged in international grain processing and trading business in Africa, South America and the Caribbean;
- Tabacal Agroindustria: A vertically integrated producer and processor of sugar and citrus based in Argentina, whose products are sold in the domestic and international markets;
- Transcontinental Capital Corporation: Provides independent power generation services (power services) for private and enterprise-level power distributors in the Dominican Republic;
- Butterball: America’s largest integrated turkey vertical producer;
- Mount Dora Farms: Sourcing and producing jalapeño peppers in Scomayagua, Honduras.
At the end of 2015, Seaboard Corporation had more than 25,000 employees in 45 countries around the world, mainly in the United States, Latin America and Africa. In 2015, sales reached 6.5 billion U.S. dollars, ranking 417th in the global Fortune 500.
Seaboard Corporation (SEB) History:
- In 1918, the company was founded;
- In 1959, it merged with the listed company Hathaway Industries, Inc. and went public. After the merger, the company was renamed Seaboard Allied Milling Corporation, stock code: SEB;
- In 1973, the founder Otto Bresky retired and his son H. Harry Bresky took over;
- In 1982, Seaboard sold its domestic flour processing business to Cargill of the United States . Later, the company changed its name to Seaboard Corporation;
- In 1983, Seaboard Marine, Ltd. was established, the company transported goods from South America to Miami through its own shipping company;
- In 1986, Mount Dora Farms, Inc. was established in Latin America to process fruits and vegetables;
- In the 1980s, Seaboard Corporation also purchased two baking companies in Puerto Rico, and the yarn entered the shrimp farming market in Ecuador and Honduras;
- In 1989, Transcontinental Capital Corporation, Ltd. was established to provide electricity (generation) services to the Dominican Republic;
- In 1990, the pork processing plant in Albert Lea, Minnesota was acquired (closed in 1994) and Seaboard Foods was established. Subsequently, the company’s pork processing business has achieved rapid development;
- In 1996, Seaboard acquired the equity of Tabacal Agroindustria, an Argentine sugar and citrus processing company;
- In 1998, Seaboard acquired a controlling stake in a winery in Bulgaria;
- In 1998, sold the baking business in Puerto Rico;
- In 2000, Seaboard sold its poultry business to ConAgra Foods, Inc. for $375 million ;
- In the early 2000s, Seaboard Corporation sold all of its seafood business (investment);
- In 2005, as part of the diversification, Seaboard acquired the bacon processing company-Daily’s® Premium Meats (with 2 processing plants);
- In July 2006, H. Harry Bresky retired and remained as chairman of the board until his death in March 2007. His son Steven J. Bresky took over as chairman, CEO, director and chairman of the board;
- In 2010, Seaboard Corporation acquired a 50% stake in Butterball, LLC and once again entered the poultry processing field;
- In 2011, Seaboard Corporation entered the Fortune 500 for the first time.