Brazilians may buy 'two-headed foal' tannery
02/10/2007
Two Brazilian tanning groups are reported to be in the frame to buy the Yoma tannery at Nonogasta in northern Argentina. Reports in Argentina have suggested that the Bom Retiro and Finehide companies are studying the possibility of making a combined offer for the facility.
The tannery made the news last month after local people blamed contamination from the site for the birth of a foal with two heads. They had been complaining of high levels of pollution for some time and claimed the birth of the deformed animal as proof.
The local authorities have stipulated that any successful bidder for the site must complete the construction of an effluent treatment plant, which the previous owners were unable to finance.
Initial reports have said that an auction for the tannery will go ahead on November 5 with a reserve price of $172 million. If there are no offers at that price, there will be a second auction on November 8 with the price reduced to $112 million.
Yoma employed 1,500 people at the tannery. Initial suggestions from the two Brazilian companies are that they would only keep on 700 of those workers.
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