JBS finds a buyer for one of its Argentinean plants
11/05/2012
JBS said the consortium had paid $15 million up front for the plant, with a further payment of $1.5 million to come a year from now.
The Brazilian company bought the San José plant in 2006, but production there has been on hold since 2009. JBS has expressed frustration at restrictions on beef exports that the Argentinean government has imposed in recent years in an attempt to keep domestic prices under control in the face of low herd and slaughter numbers.
This move will leave JBS with five abattoirs in Argentina.
Comments from the new buyers in the Argentinean media suggest they hope to have the plant running again within 90 days and to build up its workforce steadily over time. At the time of closure, the facility empoyed 450 people.
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