38 seconds ago 2009-06-24T02:43:23-07:00
IOWA CITY, Iowa – The president of a Canadian plastics plant and two partners have agreed to buy a kosher slaughterhouse in Iowa that was the site of a massive immigration raid last year, pending a bankruptcy hearing.
The move confirmed by bankruptcy trustee Joe Sarachek ends months of uncertainty for the Agriprocessors Inc. plant and the town of Postville.
Sarachek says Hershey Friedman, president of Montreal-based Polystar Packaging, and two partners bought out the slaughterhouse's outstanding credit.
The lines of credit were valued at $21 million, but Sarachek says the group paid "significantly less."
Sarachek says the men bought the slaughterhouse under the name SHF Industries, a company formed in Iowa on May 6.
A date for the bankruptcy hearing hasn't been set.
