Pilgrim's is in negotiations with another company in hopes of selling a poultry plant in Batesville, Ark. The poultry plant for sale is the company's smallest plant, said Fabio Sandri, chief financial officer of Pilgrim's.

During a conference call on August 1, Sandri said Pilgrim's is in negotiations to sell the processing complex, which accounts for one percent of the company's revenues. Sandri did not identify the company Pilgrim's was in negotiations with, but he did say it was a producer in a niche market where Pilgrim's does not compete.

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Sandri and Pilgrim's CEO Bill Lovette reviewed the financial results of the second quarter of fiscal year 2013 during the conference call. The company doubled its earnings in the second quarter of 2013, and Sandri believes selling the plant in Batesville will further strengthen the financial picture of Pilgrim's.

"We view this transaction as a constructive step in aligning all of our facilities to our long-term growth strategy and with a known material impact to our results," said Sandri.