(Hartley)– Iowa Premium Pork Company announced today (Thurs.) it’s purchasing the former beef processing plant in Hartley owned by PM Beef Holdings.
Marston McGwin of Iowa Premium Pork says the Hartley plant fits into the overall goal structure that Iowa Premium Pork has in that they’re a co-op of 1,400 members in Iowa formed to find opportunities for pork producers. He says the opportunity for the co-op to own and operate it’s own processing facility is what led to their interest in the Hartley operation.
McGwin says Majestic Food Group, a subsidiary of Iowa Premium Pork, will operate the Hartley plant.
McGwin says they’ll be holding seven informational meetings around the state, including one in Hartley January 5th, to explain the project to potential investor-producers.
McGwin says they’ll be purchasing additional equipment and making upgrades to the Hartley plant over the next several months, along with hiring personnel. He says the plant will employ about 200 people when it’s fully operational this coming August 1st.
McGwin says Majestic Food Group will contract with existing packers to process live hogs into carcasses, which will be shipped to Hartley for further processing. He says the finished product will be marketed to retail food store chains and food service companies.
Pork producers who invest in the project will sign a marketing agreement requiring them to deliver one hog per year for each share purchased through 2008. McGwin says Majestic will buy the hogs for a portion of the wholesale value of their meat.
