3-30 news: Sanderson Farms announces plans for new North Carolina complex
Sanderson Farms expects to invest approximately $94.0 million in the potential new big bird deboning complex. The project, if completed, will consist of an expansion of the feed mill for the company's Kinston, N.C., plant, a hatchery, a processing plant with capacity to process 1.25 million chickens per week and a waste water treatment facility. At full capacity, the plant is expected to employ approximately 1,100 people, require approximately 150 contract growers, and be equipped to process and sell 8.9 million pounds of dressed poultry per week. If all contingencies are met, the company expects to begin construction of the complex in the second quarter of fiscal 2011 and expects to begin operations in the third quarter of fiscal 2012.
The News & Observer reports that Sanderson Farms plans to sell 2 million shares to pay for the new facility and the Kinston expansion.