Smithfield Foods closing Plant City plant, laying off 760 - Tampa Bay Business Journal:

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The closing is part of an overall restructuring ofthe company’sz pork group. Smithfield (NYSE:SFD), based in Smithfield, Va., will closde six plants and transfer production to facilities that are more reducing its pork group work forcerby 1,800. Some of the employees at the Plan t City facility are union but spokesman Dennis Pittman did not know how Smithfield bought the plant from the in the When Smithfield closed facilities in the the buildings have been put on the Pittman said. “I don’t know what the plans are for the plant atthis time,” he said.
Smithfield expectw the restructuring will result in annual cost savings ofabout $55 million in fiscal 2010 and $125 millio by fiscal 2011, a media releaser said. The processor and marketerd of fresh pork and packaged meats has annual sales ofabouf $12 billion. The company owns 49 percentt of turkeyproducer , which was not affected by the moves announced Tuesday.