Siler City Plant Closing Had Wide Implications
While teaching last night, one of my students mentioned the incident of the Siler City chicken plant closing. Here is some more background: Ukrainian billionaire, Oleg Bakhmatyuk, had bought the plant from Townsend chicken. He had set up contracts with farmers throughout NC to buy chickens. The farmers had borrowed heavily to expand their production. Also part of the plan was that Bakmatyuk would import corn from the Ukraine and Russia to offset the US ethanol-subsidy driven high price of stateside corn. But suddenly the Ukrainian pulled the plug and announced plans to close the plant. Evidently the federal government changed the import regulations regarding corn and the eastern Europe corn could not be imported. This lead ultimately to the loss of jobs for 50-75 Triad Burmese refugees.