KING ISLAND, Tasmania – JBS Australia announced it will close a beef slaughter facility at King Island, according to news reports. The beef processing operations will be relocated to Longford, Tasmania.

The facility employs roughly 700 workers, and it was one of two major employers at King Island. A spokesman for JBS Australia attributed the company's decision to rising power prices and freight costs, in addition to continued losses.

The Acting Premier, Bryan Green, expressed disappointment in the decision of JBS Australia to close its King Island facility.

"The government has done everything possible to help keep the operation going and the closure is undoubtedly a blow to the community," Green said. "Our immediate focus now is on the individuals and families who will be affected."

JBS operates 11 processing plants in Australia.