May 11, 2012

JBS sells Argentinian plant

JBS SA is selling a closed-down beef plant in the province of Entre Rios, 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 US$16.5 million with US$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 consolidate 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.