Food Industry
Industry: Email Alert RSS FeedSanderson Farms Inc. announces site for new poultry complex in NC
Frozen Food Digest, July, 2008
Sanderson Farms, Inc. (NASDAQ: SAFM) has announced that sites in Kinston, NC have been selected for construction of a new feed mill, poultry processing plant and hatchery.
These facilities will comprise a state-of-the-art poultry complex with the capacity to process 1.25 million birds per week for the retail chill pack market. At full capacity, the complex will employ approximately 1,500 people, will require 130 contract growers, and will be equipped to process and sell 6.7 million pounds per week of dressed poultry meat at full production.
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Sanderson Farms expects to invest approximately $126.5 million in the new North Carolina complex, and anticipates that associated contract growers will invest an additional $98 million in poultry production facilities. The Company expects to begin construction of the facilities this summer, with initial operation of the new complex scheduled to begin during the fourth fiscal quarter of 2009.
Sanderson Farms, Inc. is engaged in the production, processing, marketing and distribution of fresh and frozen chicken and other prepared food items. Its shares trade on the NASDAQ Stock Market under the symbol SAFM.
For further information call Mike Cockrell, Treasurer & Chief Financial Officer, at 601-649-4030.
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