Monday, November 22, 2010

After slide, Utah’s Moroni co-op back in the black

Moroni Feed Co.’s turkey processing plant is ramping up production after two years of losses, and its Norbest brand has unveiled a line of products for Thanksgiving.

The Moroni Feed Co. cooperative is counting on the additions as it heads toward a record year — expecting to process 100 million pounds of turkey and posting a $4 million profit. The plant, which processes 5 million turkeys annually, had laid off 500 employees in 2008 and shut down production for three months. Losses bottomed out at $9 million that same year, and in 2009 the plant operated in the red by $4 million. The processing plant in Moroni is back on its year-round schedule. A second facility, in Salina, where smoked turkeys, deli breasts, turkey ham, pastrami and other lunch meats are processed, also has increased production. Salt Lake Tribune