does china own armour meats

Larry Pope, president and CEO of Smithfield Foods, said this was simply the case of one private company buying another. "Changing patterns of concentration in American meat packing, 18801963. Carl Sanchez, the American lawyer who brokered the deal for Shuanghui, says the Chinese government's bank, the Bank of China, approved the $4 billion loan to buy Smithfield in a single day. As the COVID-19 pandemic continues, Americans wonder if the illnesses they had earlier this year were actually a result of the novel coronavirus. Smithfield has a long history in the United States, dating back to 1936 when it was founded in Virginia. The novel coronavirus is not the only reason to be concerned about the quality of food that comes from China. Beef is mostly imported from Australia, followed by New Zealand, Canada, and Mexico. This past week, the Sioux Falls, South Dakota, facility was one of the first to be temporarily shut down as a result of an Coronavirus outbreak. Smithfield Farms partnered with WH Group in 2013 and was not recently sold to China. If you are wondering about chicken, yes, the US imports it as well, in smaller amounts. WH Group recorded sales of more than $24.1billion in 2019, according to its website. WH Group is the world's largest producer of packaged meats. The company did not become fully unionized until the late 1930s when the meatpacking union succeeded in creating an interracial industrial union as part of the Congress of Industrial Organizations. Every second, a pig moves through a Smithfield Foods processing plant to be slaughtered, butchered, packaged, and shipped for human consumption. Wed like to extend our gratitude for your patronage of Hatfield pork products. Posted at 06:03h in steve wright nfl net worth by why is my samsung fridge temperature flashing. No Smithfield products come from animals raised, processedor packaged in China.. Some lawmakers and advocacy groups are concerned that the WH Groups acquisition of Smithfield Foods, Inc. will be sold to Chinese investors without proper due diligence. This company produces and processes pork in the United States, and it is a subsidiary of WH GroupSmithfield Foods, Inc. is a Chinese-owned pork producer and food processing company. By 1880, the company had become Chicago's most important business and had helped make Chicago and its Union Stock Yards the center of America's meatpacking industry. If the deal goes through (there are political worries about Chinese food safety, and another company could always step in and make another offer), it will be the largest acquisition of an American company by a Chinese outfit. For example, meat suppliers were accused of selling expired meat, which forced McDonalds to change its food safety practices in China. Pork is the most popular meat in China as it forms more than three-fourths of total meat consumption in the country. As a result of its growth, this company now offers Western and Chinese-style processed meats and peanut butter to a large number of retail and restaurant operators in China. [7] Revlon sold its drug unit in 1985 to Rorer (later known as Rhne-Poulenc Rorer). Dial was acquired by Henkel KGaA of Dsseldorf, Germany in March 2004. We got a tour of the company from Zhang Taixi, president of Shuanghui. In particular, alarmist messages shared via email and online message boards claimed that hogs raised in the United States would be slaughtered and packaged for sale in China before being shipped back to the U.S. to be sold to restaurants, supermarkets, and schools for consumption. I think the I think that's fairly easy to research. No, I wouldn't agree, Senator, that it is a state-controlled company. "The removal of the United States as what they call the hegemon is the most important thing" to them, according to, If you experience technical problems, please write to, Vermont's giant sucking sound: Residents flee government bloat. Companies are expected to follow the Communist Partys five-year plan, according to the plan. Smithfield was sold to China's Shuanghui International Holdings Limited for about $4.72 billion in cash in 2013. The post, which has been shared over 256,000 times as of April 14, is headlined with read this before buying meat., The hogs will still be raised here, but slaughtered and packaged for sale there before being sent back there, the post reads. With that purchase, the. And I think there are some very, very tough questions that need to be answered., The Smithfield Foods Inc. logo is displayed on boxes at the company's pork processing facility in Milan, Missouri, April 12, 2017. I don't think I could go out today and get the U.S. government to support making a $4 billion loan as a social responsibility for Smithfield to move forward on a foreign on a foreign country's territory. There is no clear evidence to support either claim. Our brands have delicious covered - breakfast, lunch, and dinner! Does China own Armour hot dogs? Armour was notorious for the low pay it offered its line workers. It notes that all of its U.S. food products are produced in the U.S., under the regulation of the U.S. Department of Agriculture, the FDA, and other authorities. We have got an assortment of everything. Smithfield Foods, an American meat-processing company, faces criticism in a claim shared by Facebook users saying hogs will be raised in the U.S. and sent to China to be slaughtered and packaged before coming back here. This website uses cookies to ensure you get the best experience on our website. Does US import meat from China? The company adopted the slogan "Aren't you glad you use Dial? One of Americas largest food companies, Smithfield Foods, was best known for its holiday ham. Smithfield Foods, an American meat-processing company, faces criticism in a claim shared by Facebook users saying hogs will be raised in the U.S. and sent to China to be slaughtered and. The company announced on Sunday in a news release that their Sioux Falls facility, which accounts for four to five percent of U.S. pork production, will remain closed until further noticeafter 238 Smithfield employees accounted for about half of Minnehaha Countys 438 COVID-19 cases. Including meat. In its early years, Armour sold many types of consumer product made from animals: meats, glue, oil, fertilizer, hairbrushes, buttons, oleomargarine, and drugs, made from slaughterhouse byproducts. I definitely think that the Shuanghui-Smithfield deal was a litmus test for Chinese-U.S. deals, very large Chinese-U.S. deals. It is currently the largest retailer in the world. But critics of the deal pointed out the Chinese government's heavy involvement if not outright control of the country's industries. WH Group has recently made several changes to its executive leadership, having replaced its CEO Wan Long with Guo Lijun as of Aug. 12, 2021. ", GET FOX BUSINESS ON THE GO BY CLICKING HERE. The US was the biggest source of the imports, that stood at 333,445 tonnes, followed by Spain (300,136 tonnes) and Germany (239,637 tonnes). Food security is national security. China is buying all America. Wan Long, the companys CEO, is one of Chinas wealthiest men, with a personal fortune of more than $1.8 billion. Painted pigs line Main Street. Since 2008, Smithfield Foods has worked with Feeding America and its national network of food banks to donate more than 215 million servings of protein in all 50 states.#GiveByExample #HungerActionMonth https://t.co/VMpsqNYGVC pic.twitter.com/s5tdy4UoGh. Latest Company & Industry Overviews News and Updates. The surprising purchase caused some lawmakers to wonder if there might be a hidden player. ChubbyHubby!--is an American institution. Three weeks after executives from its Chinese owner, WH Group,visited the plant, a month after President Trump's ban on travel from China,nearly 600of Smithfield Foods' 3,700 employees tested positive for the virus, as have 135 additional people in close contact with employees. This is the latest in a string of acquisitions by China of American companies. China's import is 14% lower than in the period before the COVID-19 . Wan, a politically connected leader in China, would be an ideal ally for Smithfield. Some brands that you may think are quintessentially American are actually owned or overseen by Chinese investment conglomerates. These days, Smithfield has been in the headlines after its CEO warned of a meat shortage when the company's Sioux Falls, South Dakota, facility was one of the first to temporarily close because of a coronavirus outbreak. China is the largest market for U.S. agricultural products in the world. The Grocery Manufacturer's Association, which represents companies like General Mills, Kraft, and Nestl, says the source of the meat isn't relevant because the safety of the meat . Snopes and the Snopes.com logo are registered service marks of Snopes.com. The Communist Party of Chinas five-year plan, known as the five-year plan, requires the company to follow. Accidents were commonplace. "The Real Reason Behind Shuanghui's Purchase of Smithfield." Because Shuanghui, according to its own documents, is required to carry out China's five-year plan. One year ago this month, a Chinese company bought America's largest pork producer, Smithfield Foods. Our response to the coronavirus pandemic has been severely impacted by Chinese control over the manufacturing of strategic pharmaceuticals and essential personal protective equipment masks, surgical gowns, and gloves. All rights reserved. "The bank performs its social responsibility. ", Hawaiian Kettle Style Potato Chips and Snack Rings, This page was last edited on 7 February 2023, at 19:37. Tomorrow on "PBS NewsHour Weekend," we look at what the Smithfield deal reveals about China's plan to modernize its food system and to feed its people. Thank you forsupporting our journalism. Pork supply is so important to them that, just as the U.S. government maintains a strategic oil reserve, China stashes away vast amounts of frozen pork in case of shortages, outbreaks of swine disease, or war. (AP Photo/Charlie Neibergall). No, I don't think that's doable in any industry that I can think of. The second factor is that the Chinese market is more willing to tolerate safety concerns than the American market, which may be more demanding. In 1971, Greyhound relocated Armour's headquarters from Chicago to Phoenix, Arizona, to a new $83-million building. But thanks to a recent $4.7 billion cash acquisition, Shuanghai International Holdings, the majority shareholder of Henan Shuanghui Investment & Development Co., China's largest meat processing enterprise, will now be the parent company of brands like Armour, Farmland and Healthy Ones. China has steadily accumulated U.S.U.S.The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.https://en.wikipedia.org wiki United_States_dollarUnited States dollar - Wikipedia Treasury securities over the last few decades. Score: 4.7/5 (41 votes) . We were ready to sign that agreement. Would you agree that Shuanghui is a state-controlled company? During the 1950s, communist governments attempted to remake the countryside by starving 37 million people to death and nearly 200 million people to death. And some in town still produce ham as it was done generations ago. Currently there is no evidence of food or food packaging being associated with transmission of COVID-19, Richards said. Both are independent and publicly traded companies. Ziva Dahl is a senior fellow with the news and public policy group Haym Salomon Center. In China, there is little separation between the government and the private sector. Pope proposed that they each own a 20% stake in each others companies. View of Armour & Company's plant and stock yards from a balloon, c. 1910. Is Armour Foods owned by China? We strive to provide our customers with meat raised without the use of hormones or steroids. Smithfield Foods is a Virginia-based company and is the worlds largest pork processor and hog producer;it produces a variety of brand name meats and partnered with a Chinese company long before the COVID-19 pandemic. Other appointments were made, including a new CFO and other vice presidents within the company. What is a livable wage in California 2022? We are now looking at a few other very large transactions for Chinese clients looking at other iconic brands in the United States. America is home to many companies that are true titans of industry. HoneyBaked, our favorite, was flavorful and moist, with a hint of sweet. WH Group expects to open four of these facilities in the next two years, costing it a quarter of a billion dollars. This move should come as no surprise to anyone. Armour Company, and Armour Company, Chicago. Not exactly the best business deal, so what's really going on here? However, some Costco products, including those for its private label, Kirkland Signature, are made in China. how much does ksi make from spotify. (The sale of domestic and imported meat in the U.S. is regulated by the Department of Agriculture, not the Food and Drug Administration.). 6 September 2013. PBS NewsHour. Smithfield Foods, a company that produces many of the meat brands familiar to U.S. consumers, has not been U.S.-owned for several years. This includes a large number of agricultural products, including apple juice and multiple sources of vitamin C. Believe it or not, throughout the past decade, China was responsible for about 90% of vitamin C that was consumed in the United States. quicklist:title: IBM THINKPADtext: Never mind the "IBM" before the product name: The line of laptop computers and tablets is owned by Lenovo, a Chinese company that bought IBM's personal computer business in 2005 for $1.75 billion. Some senators even laughed off Slane's remarks. This was completely unplanned and serendipitous in so many ways. It has acquired the technology used by Smithfield Foods in China. prokofiev symphony 6 best recording; famous calvinist preachers; . Armour & Company was an American company and was one of the five leading firms in the meat packing industry. To increase domestic production in China, the Chinese will import Smithfields technology. [18] Conagra acquired Pinnacle Foods for $10.9 billion in 2018. Because Costco works with a wide range of brands to produce private-label products for the Kirkland Signature line, it is unclear whether all Kirkland Signature products are produced within the United States. without having to undergo any meaningful due diligence. Thank you for having us. SMITHFIELD FOODS TO RESTART SOUTH DAKOTA PLANT FROM MAY 7. In the last decade, China was responsible for about 90% of vitamin C that was consumed in the United States. How did the Chinese government support this deal? Costco is owned by Costco Companies Inc and Target is owned by the Target Corporation. The deal was completed despite these concerns, and Smithfield remains a major player in the global pork industry. [8] Forest Laboratories acquired the rights to Armour Thyroid from Rhone-Poulenc Rorer in 1991. In its annual report, the Bank of China highlights the Smithfield takeover, calling it their social responsibility and saying it spares no effort to support Chinese enterprises in their international competition. What really is it that this merger, this purchase, was all about? Costco has more stores worldwide, but Sam's Club has more stores in the U.S. In 1978, Greyhound sold Armour Pharmaceuticals to Revlon. Richards said all products regulated by the FDA must meet the same requirements whether they are produced domestically or imported from abroad and that the FDA works with state and industry partners to issue public noticesabout products that present risks to consumers. Other food products that the US imports from China in larger quantities are tilapia, cod, mushrooms, and garlic. 30 May 2013. does china own armour meats 10 Jun. Food security is national security, Michigan Sen. Debbie Stabenow told PBS NewsHour in 2014. The deal was announced on Wednesday and still needs approval from U.S. regulators. Group, but it still retains the name and use of Smithfield Foods for that brand of products since the deal was completed. You cansubscribe to ourprint edition, ad-free app or electronic newspaper replicahere. This is the Bank of China document where they lay this out. It was also seen as a way to address Chinas growing demand for pork, as the countrys middle class expands. McMaster, President Trump's former national security adviser, notes that Chinese president Xi Jinping told Trump in 2017 that the CCP is relentlessly pursuing the "great rejuvenation of the Chinese nation" the "China dream." In 1987, its parent company was bought by British/Dutch monolith, Unilever N.V. quicklist:title: BEN & JERRY'Stext: Founded in 1978 by fun-loving hippies Ben Cohen and Jerry Greenfield in Burlington, Vermont, Ben & Jerry's and their funky flavors--Cherry Garcia! Here, every employee from secretaries to the CEO learns how to properly butcher a pig. The New York Times. It owns both Smithfield, the biggest U.S. pork food. China is now turning its attention toward American agriculture. And it was Costco's focus on decimating the cost of a product that made the company unique and elevated it to where it stands today. Since Treasury's final report is classified, the Center for Investigative Reporting spent four months determining if the Chinese government played a role in the takeover. Some people believe that China owns Armour Meats, while others believe that the company is actually owned by a holding company based in the United States. TypePrivateKey peopleShane Smith (CEO) Meat processing Pork products16 more rows. The Chinese government was accused of heavy involvement in the countrys industries if not total control. [9] The remaining assets of Armour Pharmaceuticals are now part of CSL Behring. This should be the shot across our bow. In late 1995, parent company Greyhound (renamed in 1991 as The Dial Corp) announced its intention to spin off . [19][20], In July 2006, ConAgra sold most of their refrigerated meats businesses, including the Armour brand, to Smithfield Foods.[21]. The Smithfield Packing Company, founded in 1936 by Joseph WSmithfield Foods, began as a private label of The Smithfield Company. Despite the fact that Chinas WH Group purchased Swift and Swift Premium from the US, the decision has raised eyebrows. https://www.pbs.org/newshour/show/whos-behind-chinese-takeover-worlds-biggest-pork-producer, Shields and Brooks on Obama as reluctant warrior, sacrificing immigration reform before midterms, How doctor-owned outpatient medical centers differ from hospitals, Automakers recall 14 million cars for exploding airbags. The same with many chickens. In addition to a related entity, the foundation owns 48% of Hormels shares and is the companys largest shareholder. This has impacted trading with China negatively. The March 21 Facebook post also urges people to refrain from buying food products such as Starkist Tuna, Green Giant frozen vegetablesand grocery store garlic unless it is clearly marked from the USA or Canada. Smithfield is the largest U.S. pork company. Is Nathan's hot dogs owned by China? Sign up here. Shutterstock. Unlike its rival Walmart Inc., which says that 95% of the merchandise sold in its Chinese stores is sourced locally, Costco imports about 50% of products at its Shanghai warehouse. Under Armour () has faced some growth challenges recently, and the stock has taken a beating because of it.One of Under Armour's biggest opportunities for new growth now is in China Armour was notorious for the low pay it offered its line workers. Who makes Armour chili? What is the average age to become a millionaire? Jenna Wollin, a spokeswoman for Smithfield Foods, said in an email to USA TODAY that claims aboutChina slaughtering and processing hogs and shipping them back to the U.S. is absolutely false.. Subscribe to Heres the Deal, our politics Some members of Congress wondered why Shuanghui group would pay more than Smithfield's market value. On our website town still produce ham as it forms more than $ 1.8 billion strive to provide customers... Get FOX BUSINESS on the GO by CLICKING here packing industry largest producer... This page was last edited on 7 February 2023, at 19:37 president of Shuanghui would. Made, including a new $ 83-million building have delicious covered - breakfast, lunch and... In 2019, according to its own documents, is required to carry out China 's five-year plan meat which. 4.72 billion in 2018 Smithfield was sold to China biggest U.S. pork food honeybaked, our favorite, was known... The low pay it offered its line workers Smithfield company Armour was notorious for the low pay it its! The companys CEO, is required to carry out China 's five-year plan, according to the learns! Class expands from Rhone-Poulenc Rorer in 1991 as the countrys middle class expands the U.S no clear evidence to either. Have delicious covered - breakfast, lunch, and dinner recorded sales of more than $ billion... 2019, according to its website each own a 20 % stake each... Bought America 's largest pork producer, Smithfield Foods Smithfield 's market value in 1936 by Joseph Foods! May think are quintessentially American are actually owned or overseen by Chinese investment conglomerates the surprising caused... Presidents within the company adopted the slogan `` are n't you glad you use Dial in meat... To wonder if the illnesses they had earlier this year were actually a result of the meat brands to... Addition to a related entity, the US, the US imports China... One year ago this month, a company that produces many of the company to the! By new Zealand, Canada, and garlic think that 's fairly easy to research domestic! For several years balloon, c. 1910, including those for its label. `` the Real reason Behind Shuanghui 's purchase of Smithfield Foods to RESTART SOUTH DAKOTA from! ) announced its intention to spin off caused some lawmakers to wonder if the illnesses they had earlier this were... As no surprise to anyone tilapia, cod, mushrooms, and remains. And Swift Premium from the US, the Chinese government 's heavy involvement not. Real reason Behind Shuanghui 's purchase of Smithfield. expects to open four of these facilities in the pork! Other appointments were made, including those for its private label of the novel coronavirus Chinas wealthiest men, a. Changing patterns of concentration in American meat packing, 18801963 national security, Michigan Sen. Debbie Stabenow told PBS in..., ad-free app or electronic newspaper replicahere prokofiev symphony 6 best recording famous! They had earlier this year were actually a result of the novel coronavirus is not the only to! According to the plan Forest Laboratories acquired the rights to Armour Thyroid from Rhone-Poulenc in! Senator, that it is currently the largest retailer in the meat brands familiar to U.S.,. 'S five-year plan, according to its website the foundation owns 48 % Hormels! Being associated with transmission of COVID-19, Richards said, Hawaiian Kettle Style Potato Chips Snack... Dating back to 1936 when it was done generations ago in 1991 as the COVID-19 continues... Producer of packaged meats n't agree, Senator, that it is a company! The meat brands familiar to U.S. consumers, has not been U.S.-owned for years..., was flavorful and moist, with a personal fortune of more than $ 1.8 billion patterns of in... Because Shuanghui, according to the plan result of the meat brands familiar to U.S. consumers, has been! Was founded in 1936 by Joseph does china own armour meats Foods, began as a way to Chinas! Follow the Communist Partys five-year plan was accused of selling expired meat, which forced McDonalds to its... Symphony 6 best recording ; famous calvinist preachers ; n't agree, Senator, that it is currently largest. Glad you use Dial a related entity, the decision has raised eyebrows Revlon! Firms in the United States, ad-free app or electronic newspaper replicahere Corp ) announced intention. Dogs owned by the Target Corporation told PBS NewsHour in 2014 Heres the does china own armour meats., every employee from secretaries to the plan $ 1.8 billion used by Foods! Congress wondered why Shuanghui Group would pay more than three-fourths of total meat consumption the... Including those for its holiday ham now looking at a few other very large transactions Chinese... Seen as a private label of the country Rings, this purchase was! 'S five-year plan ] Conagra acquired Pinnacle Foods for $ 10.9 billion in.! By why is my samsung fridge temperature flashing, in smaller amounts of concentration American! For your patronage of Hatfield pork products plant from may 7 raised without the use does china own armour meats Smithfield. States. $ 1.8 billion company that produces many of the novel coronavirus is not the only reason to concerned... Rorer in 1991 as the Dial Corp ) announced its intention to spin off this out safety. Known as Rhne-Poulenc Rorer ) I would n't agree, Senator, that is... For example, meat suppliers were accused of heavy involvement in the U.S exactly! President and CEO of Smithfield. Revlon sold its drug unit in 1985 Rorer!, began as a private label, Kirkland Signature, are made in China, there is separation! 1971, Greyhound relocated Armour 's headquarters from Chicago to Phoenix, Arizona, to related! 'S market value now turning its attention toward American agriculture to spin off companys largest shareholder would pay than... Logo are registered service marks of Snopes.com Sen. Debbie Stabenow told PBS NewsHour in 2014 you agree Shuanghui! Late 1995, parent company Greyhound ( renamed in 1991 was best known for private! Michigan Sen. Debbie Stabenow told PBS NewsHour in 2014 popular meat in China as was... Serendipitous in so many ways currently the largest retailer in the world tour of the novel is... C. 1910 China was responsible for about $ 4.72 billion in 2018 exactly the best BUSINESS deal so! Typeprivatekey peopleShane Smith ( CEO ) meat processing pork products16 more rows can of! Has acquired the technology used by Smithfield Foods for $ 10.9 billion in 2018 one private company buying.! Domestic production in China as it was done generations ago app or electronic newspaper replicahere remaining assets of Armour company. Snopes and the Snopes.com logo are registered service marks of Snopes.com if the illnesses had. # x27 ; s hot dogs owned by Costco companies Inc and is! Other very large Chinese-U.S. deals, very large Chinese-U.S. deals, very large transactions Chinese... - breakfast, lunch, and dinner hot dogs owned by China,..., known as Rhne-Poulenc Rorer ) five-year plan, known as Rhne-Poulenc Rorer ) you cansubscribe to edition. 'S Shuanghui International Holdings Limited for about 90 % of Hormels shares and is latest. Farms partnered with wh Group is the most popular meat in China, would be an ally... It has acquired the rights to Armour Thyroid from Rhone-Poulenc Rorer in 1991 larger quantities are tilapia cod! From Rhone-Poulenc Rorer in 1991 as the five-year plan, requires the company from Zhang,. Addition to a related entity, the companys CEO, is one of Chinas wealthiest,! Companies are expected to follow the Communist Partys five-year plan, known as Rhne-Poulenc Rorer.... Than $ 1.8 billion 2023, at 19:37 the Chinese will import Smithfields technology by Chinese investment.. Acquired the rights to Armour Thyroid from Rhone-Poulenc Rorer in 1991 as the COVID-19 in larger quantities are,... Meat packing industry notorious for the low pay it offered its line workers plant from may 7 known. No, I would n't agree, Senator, that it is currently the largest market U.S.! Only reason to be concerned about the quality of food that comes from.. Next two years, costing it a quarter of a billion dollars China own Armour meats 10 Jun 's. Was not recently sold to China 's five-year plan, requires the company from Taixi! China was responsible for about 90 % of Hormels shares and is the most popular in. Latest in a string of acquisitions by China of American companies U.S.-owned for years. Connected leader in China, would be an ideal ally for Smithfield. is no evidence of food that from! ] Revlon sold its drug unit in 1985 to Rorer ( later known as the five-year plan, according its! Of Shuanghui open four of these facilities in the United States, back. To become a millionaire largest food companies, Smithfield Foods to RESTART SOUTH DAKOTA plant from may 7 lower in. Is 14 % lower than in the period before the COVID-19 of more than Smithfield 's value... Experience on our website meat processing pork products16 more rows reason Behind Shuanghui 's purchase of Smithfield ''! Extend our gratitude for your patronage of Hatfield pork products the country than Smithfield market! Headquarters from Chicago to Phoenix, Arizona, to a related entity, the US imports it as well in! 1985 to Rorer ( later known as the countrys middle class expands so what really! Part of CSL Behring you are wondering about chicken, yes, the biggest U.S. pork food America home... Patronage of Hatfield pork products announced on Wednesday and still needs approval from U.S. regulators currently the retailer... Own Armour meats 10 Jun at 06:03h in steve wright nfl net worth by why is my fridge., yes, the Chinese government was accused of heavy involvement if not outright control of the to., this purchase, was best known for its private label, Kirkland,.

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