Wednesday, September 9, 2015

New owners expected to reopen Arkansas poultry plant

A poultry processing plant in Pine Bluff, Arkansas, that has been shut down for more than a year may soon have new owners, a local economic development official said.
A deal to acquire the plant, previously owned by Horizon Foods and later by Summit Poultry, could come later in September or in October, Lou Ann Nisbett, president and chief executive officer of the Economic Development Alliance for Jefferson County, said at a board meeting on September 2.
Nisbett did not reveal the name of the potential buyer, but added that she has been discussing the plant with the interested party for more than a year, reported the Pine Bluff Commercial.
Horizon Foods had opened the plant in the summer of 2012 after investor Rory Botto said $3 million went toward renovating the plant, which was built in 1957 and had earlier been operated by Tyson Foods, which closed the plant in 2003.
Horizon went on to sell the plant to Summit Poultry in December, but that company only kept the plant operating for several months. The building has since been vacant.
If a purchase of the poultry plant becomes a reality, the new owners are expected to acquire the debts of the former owners of the plant, including the funds the tax board loaned to Horizon.

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