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JBS TO TAKE OVER CANADA'S XL FOODS LAKESIDE PLANT
Oct. 19, 2012
BrownfieldAgNews reports:
JBS USA is taking over the management of that XL Foods Lakeside plant in Brooks, Alberta.
The plant is at the center of the largest beef recall in Canadian history. It was initially shut down on September 27th after E.coli O157H7 contamination prompted the first recall of products on September 16th. Since then the number of recalled products has expanded to more than 1,800 distributed around the globe.
The facility was allowed to resume some operations last week when some workers returned to process the 5,100 carcasses in the plant. Everything was then shut down again to allow the CFIA to make sure the problems have been corrected at the plant and the meat is safe. None of that beef has left the plant. CFIA says it will have the analysis completed in a few days, prepare a report and recommend the next steps for the facility.
Under the deal announced Wednesday, JBS USA will take over operation of the plant with an option to buy it for $50 million (U.S.) cash and $50 million in JBS SA stock. JBS would not assume any XL debt or liabilities. JBS USA is a wholly-owned subsidiary of Brazil-based JBS SA, one of the largest beef processors in the world.
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