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Article: Wilson Foods Corp. sells Cedar Rapids, Iowa hog facility.
- Article from:
- PR Newswire
- Article date:
- May 9, 1984
CopyrightCOPYRIGHT 1984 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OKLAHOMA CITY, May 9 /PRNewswire/ -- Wilson Foods Corporation announced today it has reached an agreement to sell its Cedar Rapids, Iowa, hog slaughtering and processing plant to Cedar Rapids Meats, Inc., a new firm headed by Minnesota businessman Keith Barnes. Under the terms of a contract between the two parties, Cedar Rapids Meats will purchase the fixed assets of the Cedar Rapids facility for approximately $16 million.
Kenneth J. Griggy, chairman of the board and chief executive officer of Wilson Foods, said the sales contract calls for Cedar Rapids Meats to produce Wilson Foods' branded processed meats under a manufacturing agreement. In addition, he said ...