JBS sells Argentina plant
May 9, 2012
by Meat&Poultry Staff
SAO PAULO, Brazil – JBS SA has sold one of its plants based in San Jose, Argentina, for $16.5 million, the company announced on its website.
The sale was made to a consortium of local cooperatives and the provincial government of Entre Rios. The two entities will run the plant jointly, according to JBS. The company said $15 million was paid in cash, with the balance due within one year.
“JBS continues exercising its best efforts to maintain viable operations in Argentina with a view towards serving its local customers as well as its many clients abroad adhering to the regulations imposed by the local authorities,” the company said.
JBS acquired the plant in 2006 and closed it in 2009.