Tyson Foods sells off California jerky unit
Tyson Foods Inc. recently sold a subsidiary in California that operated a jerky factory.
Golden Island Jerky Co., Inc., a maker of dried snacks with Asian flavors, was sold for an undisclosed amount to Jack Link's Beef Jerky in Wisconsin. News of the deal came after a plant in Rancho Cucamonga closed its doors last month, at the cost of 371 jobs, according to a Worker Adjustment and Retraining Notification Act filing with the state of California.
Workers at the plant were notified on Dec. 13 and are being paid through Feb. 10.
"The decision to sell the business was a very difficult one," Tyson spokesman Worth Sparkman said in an email Tuesday. "It's important to know it was based on a combination of factors including our ability to generate profitable growth in the business and our need to focus on, and invest in strategic growth priorities where we are competitively advantaged."
A spokesman for Jack Link's said the company will be moving production to Alpena, S.D., where all the former Golden Island employees are welcome to apply for a position. Abbey Miller said in an email that the acquisition "allows us to expand our presence and reach consumers in new ways."
-- Nathan Owens
Credit union moving to new office in NLR
TruService Community Federal Credit Union plans to move its North Little Rock offices to a new site being remodeled at 4140 JFK Blvd. The new branch will feature a video-banking service.
The full-service branch office will have two drive-thru lanes and an ATM lane. Inside, a member will be able to connect by video chat with credit union representatives at the main branch in Little Rock for loans, mortgages, credit cards and other services.
TruService is Arkansas' oldest credit union and has been serving Pulaski and Faulkner counties since 1930. The new office is anticipated to open by March. TruService also has branches in Little Rock and Conway.
-- Andrew Moreau
Arkansas Index up 0.54, ends at 470.02
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Tuesday at 470.02, up 0.54.
Shares of J.B. Hunt Transport rose 2.3%. USA Truck shares fell 2.5%.
"Stocks sold off on Tuesday as Wall Street debates the growing geopolitical risks stemming from U.S.-Iran tensions along with better-than-expected data on the economy," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 01/08/2020