Seaboard Corp. has halted plans to build a $45-million further-processing plant for bacon production and may look for an existing facility to buy instead.
Construction had been scheduled for the last half of this year, but had already seen a delay. "Other alternatives to construction may be considered for this project, including the acquisition of an existing facility," company officials noted in in a financial filing with the Securities and Exchange Commission.
The company also plans to spend $9.2 million to improve existing hog finishing facilities and upgrade its Guymon, Okla., pork-processing plant. The finishing hogs will go to the Guymon plant.
Seaboard is constructing a $40-million processing plant to produce biodiesel, which it intends to sell to a third party. The biodiesel will be produced from byproducts, including those from the Guymon plant.
Source: Meatingplace, Seaboard