As part of ongoing efforts to improve operational efficiency, Tyson Foods Inc. (NYSE:TSN – News) is closing its Ponca City, Oklahoma, processed meats plant and is shifting production to other company facilities. Tyson officials are trying to find a buyer for the plant, which has been in operation since 1995. The facility closing is expected to result in a non-cash charge to Tyson’s fiscal second quarter earnings of approximately $0.02 per share.

“This is a very difficult decision because it affects the lives of our people, their families, and the community; however, it is critically important to our business,” says Dick Belsito, senior vice president of processed meats for Tyson Foods. “After extensive consideration, we’ve concluded closing Ponca City and moving the production to three other plants is necessary to improve the viability of our overall processed meats operations.”

Tyson officials have been in contact with potential buyers of the plant, but no sale has been completed.

The Ponca City plant produces a variety of deli-style luncheon meats and ham products. This production will gradually be shifted to Tyson plants in Buffalo, New York; Cherokee, Iowa and Houston, Texas.

The Ponca City plant closing will affect approximately 580 people, who today are being given a 60-day notice as required by law. However, the actual termination of operations and displacement of workers will take place gradually. The closing process will begin in late May and will most likely not be completed until sometime in July or August.

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