Smithfield Foods subsidiary closes plant |
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Thu, 01 Feb 2007 23:47
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KANSAS CITY, Kan. (AFX) - Armour Eckrich Branded Meats, a subsidiary of meat processor Smithfield Foods Inc., said Thursday it would close its Kansas City processed meat production plant on Aug. 31.The company said the closing will affect about 280 employees. Smithfield plans to offer transfers to other locations for some salaried employees, but did not say how many.Production of the company's processed meats would be shifted to other facilities, the company added.'This was a difficult but necessary decision to shift production to other plants,' said Michael Brown, president of Armour Eckrich, adding that 'the plant has been running substantially below capacity and losing money for several years.'Smithfield Foods shares rose 12 cents to close at $26.38 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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