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State To Help Buy Chicken Plant

EL DORADO, AR-The Associated Press reports the state of Arkansas will help fund a Pilgrim's Pride plant acquisition.

By Associated Press | Updated on April 14, 2009

EL DORADO, AR-Less than two months after Pilgrim’s Pride announced a shut-down of poultry processing plants in El Dorado, Douglas, GA and Farmerville, LA, a group of private investors has made a bid to buy the local asset. The Associated Press reports that the state of Arkansas will kick in financial assistance toward the El Dorado plant acquisition.

The news report quotes a spokesman of Arkansas Governor Mike Beebe as saying assistance could come in the form of economic development incentives. The spokesman declined comment about how much aid the state would provide, nor would he provide information about the buyers.

Pilgrim’s Pride, headquartered in Pittsburg, TX, filed for Chapter 11 protection in December 2008. The company announced plants’ shut-downs in late February due to a cut in production of what it calls “low-value, commodity meat.” The plants will close in May.

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