By Brent Bosker

Buyer found for Melfort meat plant

Dec 3, 2010 | 6:13 AM

The provincial government has found a buyer for its money-losing meat processing plant in Melfort.

On Thursday the government announced that Thompson Meats had been sold to the company's current CEO, Paul Kowdrysh for $247,000.

The former NDP government first invested in the plant in 1996 and since then nearly $12 million of public funds have gone into the plant, which only saw a profit once.

The government also said it never collected a dividend nor was it ever repaid for any of the debentures provided to the company.

Agriculture minister Bob Bjornerud justified the sale, saying it was in the best interest of tax payers.

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“It was taking more tax dollars to keep it up and running. That number was going to grow from $12 million and … I think we felt get the best deal we can,” said Bjornerud, who noted the plant had been up for sale for more than two years.

Bjornerud said the operation in Melfort will be better off in private hands.

“Anytime when government gets involved in private business we quite often see those ventures go bad.”

Thompson Meats produces ready to eat products, such as boneless ribs, hamburgers and retail meats.

Kowdrysh said the business had already showed some improvement since his arrival in 2007.

“We have a focused workforce. We’ve also looked at our long term and short term plans,” he said.

Kowdrysh said he would like to expand over the next three to five years by doing business “state side.”

He said that could result in the business increasing its staff two fold.

bbosker@panow.com