By Namrata Sen
Source: Benzinga
Tyson Foods Inc. has announced the closure of its beef plant in Lexington, Nebraska, to “position” itself for long-term success.
The meat processing giant’s decision to close the Nebraska plant was prompted by the lowest U.S. cattle supplies in nearly 75 years. The plant is set to cease operations in January, with the company also scaling back its Amarillo, Texas facility to a single shift.
“Tyson Foods recognizes the impact these decisions have on team members and the communities where we operate,” the company stated, expressing its understanding of the repercussions of these changes. Tyson plans to increase production at other facilities to meet customer demand.
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