A Tama, Iowa, beef packing plant that closed in May 2004 has been purchased by a group of local investors and may reopen this year. The Waterloo/Cedar Falls Courier reports the investors, headed by Jeff Muchow, combined under the title Amber Capital to buy the property.

The plant, which closed after the mad cow disease scare cut U.S. Beef experts, would require about $10 million to reopen, Muchow said. He added that Amber Capital is seeking additional funds but has not received any government incentives. The plant has employed up to 600 people at one time, but Muchow said it would open with 100 workers and eventually expand to 350 employees.

Source: Associated Press, The Daily Reporter