There is a proposal to close the Alliance Group's Smithfields meat processing plant in Timaru with the potential for more than 600 staff to be affected. Photo: RNZ / Tim Brown
The site that was home to the Smithfield meat plant in Timaru for nearly 140 years is now on the market.
Alliance Group confirmed the closure of the 139-year-old site and 600 jobs to go with it in October, due to the country's declining livestock numbers and weaker demand for red-meat in markets like China.
Photo: Tim Brown/RNZ
A month later, the farmer-owned co-operative reported a net loss after tax of $95.8 million in the year to September - $51m of which went towards the costs of shutting down the Timaru site and redundancies.
The 32.4 hectare industrial and rural site bordered the Showgrounds retail complex on Bridge Street just north of Timaru.
"The historic Smithfield meat processing plant has been a major icon in this growth location and is now offered to the market for definite sale," the Colliers real estate listing read.
It said Alliance had largely de-commissioned the meat works operation.
Alliance Group's Smithfield meat processing plant in Timaru is now on the market. Photo: SUPPLIED/Colliers
Three titles included buildings with cold storage, and service infrastructure like "huge" high power supply and water take, it said.
"A small, protected WW2 observation bunker adds some character to the coastal edge," it said.
Its deadline private treaty sale will close on 26 March.
The farmer-owned co-op reported a $70m loss after tax in the year to September 2023, a serious dive on the year before's $73.6m profit, which prompted the co-op to ask its shareholders to help raise capital.
It then hired Craigs Investment Partners to explore external capital raise options.
