Butterball says it will close its turkey product plant in Longmont, Colorado, by end of 2011 amid record-high ingredient costs, fuel prices

LONGMONT, Colorado , September 15, 2011 () – Butterball says it plans to close its turkey product plant in Longmont by Dec. 31.

The plant accounts for about 350 jobs. Butterball has four other facilities.

Butterball President and CEO Rod Brenneman says the company is dealing with record-high ingredient costs and needs to streamline operations. He also says government ethanol subsidies and record high fuel prices for much of 2010 and 2011 have contributed to a major increase in Butterball’s operating costs.

Butterball says during the past five years, increases in costs related to feed ingredients like corn, soybean meal and fat have averaged nearly $65 million a year.

The Daily Times-Call reports the company is working with employees to discuss possible relocations that would allow them to stay with the company.

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