Thread: Future of Greeley's Swift plant uncertain

OH MY! How will those "poor illegals" support their families now???

Future of Greeley's Swift plant uncertain with talk of sale

http://www.greeleytribune.com/article/2 ... S/70122012

January 23, 2007



Swift & Co.’s future in Greeley seems to be on shaky round with renewed talks of a sale.

Industry analysts and those close to the meatpacking industry said Monday that Hicks, Muse, Tate and Furst, the private equity firm that owns the Greeley-based meatpacking company, now has sought an aggressive timeline to unload the company in whole or in parts.

“My understanding is that Hicks Muse would like to get a sale of the entire company as a whole or in pieces completed as quickly as possible,” said Steve Kay, publisher of Cattle Buyer’s Weekly, who reported the potential sale in his weekly publication. “I understand from my sources that they have a very aggressive timeline on this.”

The future of Greeley’s beefpacking plant, however, is uncertain in the event of a sale, as the plant is considered within the industry as old and inefficient, and too far from the cattle supply.

“Of the parties that appear to be interested in part of Swift beef, the Greeley plant does not configure in their wish lists,” Kay said. “That’s not to say that another entity or even an entity perhaps that doesn’t appear to be among the companies discussed at the moment, might not be interested in plant in some shape or form. But the reality is that until all this plays out, we won’t know whether the Greeley plant has a future or not.”

Rumors have circulated about a sale or an initial public offering since Hicks Muse hired Sam Rovit to head Swift & Co. in 2005. Swift officials have continually denied movement in either direction, but recent events, such as the long closure of Asian markets and Immigration and Customs Enforcement raids in December, may have swayed them otherwise.

OH MY! How will those "poor illegals" support their families now???

April, they will just get unemployment benefits as well at our expense.

Of course Sippy, why would they go home when they feel so welcome here!

Originally Posted by April

Of course Sippy, why would they go home when they feel so welcome here!

Exactly!!!

so Greeley is now too far for the cattle raisers in colorado to get their cattle too???? hmm its lot closers than the one in Nebraska, Iowa, Utah, and Minnesota. Texas would only be closer for those in the far SE part of the state. t

Who knows what the real reason is........these people are incapable of giving honest answers to anything.