A South Sioux City plant announced it is closing doors right before the holidays with between 60 and 70 workers losing their jobs.
CHS, the nation’s leading farmer owned co-op, announced they are closing down their South Sioux City plant after just five years with their doors open.
This soy protein manufacturing facility says the closure comes as part of its strategic plan to help restore financial flexibility by “reviewing all company assets to determine which are a strategic fit for CHS now and into the future.”
Approximately 63 people are losing their jobs, which the South Sioux City Administrator Lance Hedquist says is certainly a tough tragedy for all families impacted.
“They’ve been a great company for South Sioux City and Siouxland. They’re a great employer of people overall. They pay great benefits out there. It is certainly a tough tragedy on the families that are impacted by this decision,” Hedquist said.
CHS is in the process of negotiating the sale of their South Sioux City facility to a Fortune 500 food company. If the parties can reach a deal, CHS anticipates to finalize the facility sale in January 2018.
CHS initially acquired the plant for $133 million in 2012.