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Tyson Selling Two Poultry Plants
NEW YORK - Mar 22/07 - SNS -- Tyson Foods, Inc. signed a letter of intent to sell its poultry plants in Ashland and Gadsden, Alabama to Koch Foods Incorporated of Park Ridge, Illinois.
The sale will include a feed mill in Talladega and hatcheries in Fair Knoll and Empire. Terms of the proposed transaction are not being released; however, the companies indicate they hope to complete the deal by the end of May.
Tyson began reassessing the future of these Alabama operations last year after fire destroyed the company’s poultry processing plant in Heflin. This led to a discussion with Koch, which has been a long-time, primary customer of the Heflin and Ashland plants, and more recently, the Gadsden facility, which has not been operating at full capacity due to production cuts Tyson initiated in 2006.
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