Slaughtering
Wales: Cig Cibyn abattoir to reopen 24 Feb 2009
Considered important to the economy of north-west Wales, Cig Cibyn will open its doors again with new owners this time.
The Cig Cibyn plant at Caernarfon, which went into administration three months ago, has been bought by Ireland-based Sher Foods for an undisclosed sum.
According to administrators CLB Coopers and Gwynedd County Council they were continuing with the job of realising assets, particularly book debts and were hopeful of paying a dividend to unsecured creditors before the end of the year.
Welcoming the sale
Last year November trading came to a halt and it was estimated that the company's total debt was close to £2m. Union leaders welcomed the increased competitive edge the sale of the plant would bring to the livestock market.
But Farmers Union of Wales president Gareth Vaughan stated that the new owners would have to work hard to regain the trust of farmers.
Sher to address problems
Vaughan is hoping that Sher Foods would be able to get to grips with the problems that several other previous companies that operated the site had to deal with.
Vaughan is hoping that Sher Foods would be able to get to grips with the problems that several other previous companies that operated the site had to deal with.
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