Tyson - Lee retires and alliance with ConocoPhillips

by Editor fleischwirtschaft.com
Wednesday, April 18, 2007

Tyson Foods, Inc. announced that Greg Lee has decided to retire early from full time employment.

As the company's Chief Administrative Officer and International President he spent 27 years helping build and grow Tyson Foods.

In accordance with his agreement with the company, Lee will, in the next several weeks be assisting with the transition; including helping determine how his past duties and responsibilities will be assigned going forward. An announcement on those decisions is expected in the next 30 days.

Furthermore ConocoPhillips and Tyson Foods, Inc. announced a strategic alliance to produce next generation renewable diesel fuel.

The alliance plans to use beef, pork and poultry by-product fat to create a transportation fuel. This fuel will contribute to America’s energy security and help to address climate change concerns.

Over the last year, the companies have been collaborating on ways to leverage Tyson’s advanced knowledge in protein chemistry and production with ConocoPhillips’ processing and marketing expertise to introduce a renewable diesel to the United States. Tyson will make capital improvements this summer in order to begin pre-processing animal fat from some of its North American rendering facilities later in the year.

ConocoPhillips also will begin the necessary capital expenditures to enable it to produce the fuel in several of its refineries. The finished product will be renewable diesel fuel mixtures that meet all federal standards for ultra-low-sulfur diesel. Production is expected to ramp up over time to as much as 175 million gallons per year of renewable diesel.

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