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JBS Sells San José Plant in Argentina

10 May 2012

ARGENTINA - JBS SA is to sell one of its closed beef plants in San José in the province of Entre Rios, in Argentina.

The plant has been sold to a consortium formed by a group of local cooperatives and the provincial government site, which will assume all operation and asset management.

The deal is worth $16.5 million with $15 million paid in cash and the balance within one year.

The San José plant was acquired by JBS in 2006 and but production was ended in 2009.

JBS has been trying to cvonsolidate its operations in Argentina while at the same time seeking to serve its customers in both the domestic and foreign markets to the best of its ability within the rules laid down by local authorities.

TheMeatSite News Desk

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