Meat & Poultry Briefs: Tyson, Butterball scale back
June 27, 2008
Meat & Poultry Briefs: Tyson Foods Inc., Springdale, Ark., said it expects by October to sell the packing, feedyard and fertilizer assets of Lakeside Farm Industries Ltd. -- along with Lakeside Packers, a subsidiary -- to XL Foods Inc., part of the Nilsson Bros. Group in Calgary, Alberta . Officials said the deal C$107 million deal includes a C$57 million initial payment with C$50 million plus interest to be paid during the five years after closing. Lakeside Farm Industries is based in Brooks, Alberta, with 2,300 employees and capacity to process 4,700 cattle per day. Lakeside Packers' commodity boxed beef is told to Canadian and U.S. customers. . . . Citing a $200 million rise in feed costs, Butterball LLC, Garner, N.C., said it plans to reduce turkey placement and slaughter operations in Longmont, Colo., which will result in approximately 210 employee layoffs. . . . Citing economic conditions, Sanderson Farms Inc., Laurel, Miss., said it will temporarily delay plans to build a $126.5 million poultry processing complex in Kinston, N.C.