Smithfield to close, consolidate plants
June 14, 2006
Smithfield Packing Co., a unit of the world''s largest pork producer, Smithfield Foods Inc., recently said it was closing a plant in Florida and will consolidate two plants in Smithfield, Va., impacting up to 611 jobs, the Associated Press reports. The news came the same day Smithfield reported sharply lower fiscal-fourth quarter earnings, hurt by a glut in supply and lower live hog prices. The company''s Madison, Fla. plant, which has 486 staffers, will begin to close over the next 30 days and will be completely shut down by Oct. 31. The consolidation of the company''s two processed meat operations in Smithfield, Va., could result in the loss of up to 125 jobs. The company is opening a new manufacturing plant in Kinston, N.C. in the next few months.