worâ¢thy. 1. having adequate or great merit, character, or value: a worthy successor. 2. of commendable excellence or merit; deserving; meritorious: an effort worthy of praise. 3. a person of eminent worth, merit, or position.
Japanâs Sumitomo Forestry bought out American house builder. Sumitomo Forestry Co., Ltd. (Tokyo) announced that it bought 60% of share of DRB Enterprises, which owns Dan Ryan Builders (DRB) group in Maryland. DRB is a major house builder on the East Coast and South of the United States. Purchase amount is about 10 billion yen (US$ 90 million).
Creekstone Farms, the Arkansas City, Kan.-based packing company with $550 million in sales last year, has been sold to Japanese trading house Marubeni. Creekstone, the 12 th largest U.S. packing firm, was owned by private-equity firm Sun Capital Partners. A Japanese news source reported the deal to be worth $170 million. Marubeni already owns an Australian feedlot, which means the company now has interests in two of the worldâs largest beef producing and exporting countries. International business analysts believe Marubeni sees changes in trade policy among major economies as business opportunities, and is making a play to be on the leading edge of U.S. beef exports to China with its purchase of Creekstone.