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Tyson Foods Finalizes Sale Of Alabama Poultry Plants For Undisclosed Terms

by 5m Editor
28 May 2007, at 9:22am

US - Late Friday, largest meat producer Tyson Foods Inc. announced the completion of the sale of its Alabama poultry plants and related support facilities for undisclosed terms.

The Springdale, Arkansas-based company stated that it sold the processing plants in Ashland and Gadsden to Koch Foods of Park Ridge, Illinois as part of strategic efforts to lessen the production of commodity chicken. The sale also included its Talladega feed milk as well as its Fairknoll and Empire hatcheries.

Bill Lovette, Senior group Vice President of Tyson Foods' of Poultry and Prepared Foods, said, "We determined it made sense to sell these commodity operations since our company has become more focused on value-added chicken production, which typically involves producing boneless, marinated or cooked products."

TSN closed Friday's trade at $22.08, up 39 cents or 1.80%. In the After Hours trading session, the stock declined 8 cents or 0.37% at $22.00.

Source: TradingMmarkets.com

5m Editor