Closed Nebraska Meat Plants May Soon Have New Owner

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Posted: 3:16 PM Mar 9, 2010 Closed Nebraska Meat Plants May Soon Have New Owner Hastings, Neb. A new company is buying the former Premium Protein Products plant in Hastings, planning to run a custom slaughter operation. Reporter: Associated Press

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A new company is buying the former Premium Protein Products plant in Hastings, planning to run a custom slaughter operation.

Managing partner Jim Stevens says Hastings Acquisitions LLC also hopes to buy the Premium Protein operation in Lincoln. He said Tuesday that his group has two weeks to reach a deal for the Lincoln plant.

Premium Protein filed for Chapter 11 bankruptcy protection in November.

Stevens says financing is coming from two groups in Chicago and the Puretz family of New York.

He declined to say how much they'll be paying. A lawyer representing former employees of Premium Products told the Lincoln Journal Star that Hastings Acquisitions is paying $3.2 million for the Hastings plant and has an option to buy the Lincoln plant for $700,000.

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