MEXICO

Hormel Forms Mexican Venture: The Austin, Minn.-based meat-processing company said its Hormel Foods International Corp. unit formed a joint venture with one of Mexico’s largest producers of canned and bottled food products, Grupo Herdez, to sell Hormel products in Mexico. Hormel said fiscal third-quarter earnings rose 4.3%, beating analysts’ estimates. Hormel Foods Corp., known for its Spam luncheon meat and Hormel Vienna sausages, said the venture will market a broad variety of Hormel products in Mexico that will initially be produced at Hormel plants in the United States. The venture will be known as Hormel Alimentos. Hormel said its third-quarter net income rose to $21 million, or 28 cents a share, from $20.2 million, or 26 cents a share, in the year-ago quarter.