Sanderson Farms Breaks Ground on New Plant
Sanderson Farms, Inc., Laurel, Miss., announced construction of its new poultry complex in Palestine, Texas, will begin Oct. 1. The company previously announced the selection of this location earlier this year, but plans for construction were put on hold due to uncertainty surrounding grain prices, as well as other contingencies, including obtaining board approval to move forward with the project.
The new complex will consist of a feed mill, hatchery, poultry processing plant and wastewater facility. At full capacity, the Palestine facility will process 1.250 million head of chickens per week for the big bird deboning market.
“We are very pleased the board has authorized an increase in our dividend rate and granted final approval to commence construction of our next poultry complex,” says Joe Sanderson, Jr., chairman and CEO. “Our solid financial and operating performance, consistent growth and strong balance sheet have allowed us to move forward on both of these actions and further demonstrate our confidence in Sanderson Farms’ future and our commitment to building shareholder value.”