HUTCHINSON, Kan. (AP) — A soy processing plant in Hutchinson has closed, costing 77 people their jobs.
CHS Inc. announced Friday that the Hutchinson plant was one of three it was closing as it moves out of soybean protein production.
The others were in Creston, Iowa, and its Innovation and Technology Center at Eagan, Minnesota. Spokeswoman Annette Degnan says a total of 144 employees at the three locations will be affected.
The Hutchinson News reports eligible employees will be paid through Jan. 30 and will be eligible for severance pay and outplacement assistance.
The company reported net income of $127.9 million for the fiscal year ended Aug. 31, compared to net income of $424.2 million for fiscal 2016.
CHS Inc. is a global agribusiness owned by farmers, ranchers and cooperatives.