Smithfield subsidiary to lay off 117 in Texas

Posted to: Business Smithfield Foods

By Philip Walzer
The Virginian-Pilot
© August 18, 2009

A Smithfield Foods Inc. subsidiary will lay off 117 workers at its Texas hog farms, according to a filing with the state.

The layoffs, at Premium Standard Farms' sites in Dalhart, Texas, will begin by mid-October, the notice said.

In other Smithfield news:

- GE Capital said Monday that it had provided $150 million for Smithfield's previously announced $1 billion revolving credit facility. Smithfield Vice President Carey Dubois said GE "accounted for the largest portion of the... credit facility, helping provide Smithfield with the liquidity it needed."

- Smithfield said Friday that it had finished the sale of $225 million in senior secured notes. CEO C. Larry Pope said that would help "strengthen our balance sheet."

ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Comments do not reflect the views of The Virginian-Pilot or its Web sites. Comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Report Violation" link below the comment.