“We’re out raising the second phase of the capital, $8 to $10 million,” Jeff Muchow, president of Iowa Premium Beef, told the Tama City Council recently. With that money, the Amber Capital group intends to reopen the closed beef packing plant on Tama’s east side, as early as August.
Muchow, of Overland Park, KS, says he was only asking for initial cooperation on an engineering study for waste treatment for the plant.
The packing plant and adjoining property were purchased in October 2010 by the Amber Capital investment organization from Liberty Bank, which held title to the property after foreclosure following bankruptcy proceedings involving Iowa Quality Beef.
According to the online records of the Tama County Assessor, Amber paid $1 million each for seven parcels.
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