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Tyson sets venture in fats, oils market

Tyson Fresh Meats, Inc. is working with longtime customer Jacob Stern & Sons to start a joint venture serving the global fats and oils market.

Terms of the deal were not disclosed in a news release. The venture, JST Global LLC, will process Tyson's beef and pork byproducts for use in industries such as personal care and pharmaceuticals, the companies said.

"We maximize the value of every animal we harvest so that no part of the animal goes to waste," said Steve Stouffer, group president of Tyson Fresh Meats, in a statement.

"This joint venture gives us the opportunity to continue to value-up our beef and pork production, enabling us to innovate in new untapped markets while continuing to work directly with existing animal fat customers and the emerging renewable energy market," he said.

After a transition period, the companies said that the marketing of all animal fats from Tyson Fresh Meats, a wholly-owned beef and pork subsidiary, will be done by JST Global at facilities in Houston, Dakota Dunes, S.D., and Omaha.

Sales teams from Jacob Stern & Sons and Tyson Fresh Meats will collaborate on the project.

-- Nathan Owens

Venture Center in LR seeks business ideas

Central Arkansas entrepreneurs with an idea for a business can turn to the Venture Center in Little Rock for help developing a company.

The Venture Center and the Little Rock Regional Chamber of Commerce announced Tuesday that they are working on an initiative to turn ideas into businesses. The "Origin" program will support entrepreneurs at all levels seeking a foundation for their ideas.

In the program, potential business founders can tap into local resources that will help them develop pitch skills and connect with mentoring and networking opportunities.

Origin sessions are free and will be held the third Monday of each month. Each month there will be four 30-minute sessions, one person per session.

"Origin is a program designed to help talented people utilize their really good ideas to create successful and sustainable companies," said Jay Chesshir, president and chief executive officer of the Little Rock chamber.

-- Andrew Moreau

Arkansas Index adds 1.65 to reach 448.19

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Tuesday at 448.19, up 1.65.

"U.S. stocks limped to a slightly higher close on Tuesday, as the S&P 500 and NASDAQ hit record highs after Chinese officials said the deadly coronavirus epidemic could be contained by April," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 02/12/2020

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