October 22, 2010

JBS to build new pork plant

JBS USA and city officials in Pekin, Illinois, are in talks this week about building a new pork processing plant that could create as many as 2,500 jobs, according to reports.

Details are "time sensitive" and there are "things in the works right now," said Tazewell County Board Chairman David Zimmerman.

Earlier in August, shares in JBS slid 5% after the world's biggest beef producer revealed its earnings had been nearly wiped out in the April-to-June quarter by a foreign exchange hit and higher debts.