Word: millions
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Dates: during 1960-1969
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Armour & Co., the second biggest packer, was the first to recognize the need for change, and is spending $250 million on new facilities. Now Swift, the biggest of all, has joined the renaissance. It is closing 250 antiquated plants, and will spend $143 million on new, decentralized packing and slaughtering houses. They will replace cumbersome, multistory buildings in such places as Kansas City and Omaha. Says Vice President Paul Steinbrink: "We are moving closer to the sources of supply, where the animals...
...limited number of related meat products. But the firm expects sales to continue sliding for a year or two, until its new plants begin to win customers from the competition. Compounding its problem, Swift expects that the cost of closing all its unprofitable plants will reach $120 million before the modernization is completed. But executives figure that the shutting down of unproductive facilities will ultimately yield the company about $150 million from inventory liquidation, tax write-offs and sales of fixed assets. Swift will channel much of this capital into a growing list of diversified investments, which already include four...
Furthermore, an anonymous donation last year of $12 1/2 million came with a qualifying, statement that the money be used for an undergraduate facility. Total cost of the building is roughly $17 1/2 million...
Radcliffe will have an underground coffee shop and kitchen complex operating by next winter as the first step of a proposed $2 million renovation of Bertram and Eliot Halls...
...underground area will take "a minor portion" of the $2 million total involved in the Bertram-Eliot project, Mrs. Bunting said. The center building and the renovation work--which includes converting individual rooms into three-to-six room suites--will use up the rest of the money...