4-28 news: Farmerville plant still scheduled to be idled
In order for the sale to be completed, the two companies have to sign off on a formal purchase agreement, which would have to be subject to conditions and approvals, including that of a bankruptcy court, according to AP reports. Furthermore, Louisiana lawmakers must approve the incentives that state officials offered Foster Farms in the deal. Louisiana had agreed to split the $80 million cost with the California-based poultry processor to facilitate the deal and keep the plant open.
Meanwhile, Foster CEO Ron Foster announced that the company is continuing negotiations with Pilgrim’s Pride and anticipates upgrading and adding to the capabilities of the plant. It will also continue to use local growers, who would be impacted by the plant closure.