Producers Cooperative Oil Mill gets approval of members to sell Oklahoma City plant
Producers Cooperative Oil Mill said Friday that its members have approved a sale of the shuttered downtown Oklahoma City plant.
The industrial property sits on nearly 40 acres southeast of downtown Oklahoma City along the Oklahoma River. Membership approval was a condition for the sale.
Austin Rose, Producers Cooperative president, said in a news release that the transaction was to close in about nine months if everything goes smoothly.
The Producers Cooperative has not disclosed the identity of the buyer or the sale price.
“This is a complex transaction. We have other due-diligence hurdles to meet," Rose said.
"That said, we are pleased with membership support and anticipate the sale will continue to move in a positive direction.”
Rose announced in July 2015 the property was being put up for sale and that the mill was shutting down processing of cotton seed oil.
The end of the operation and the sale of the property marks an end to one of the oldest industrial presences in Bricktown — one that dated to territorial days.
The plant previously processed cotton and canola seed, but ceased operations last year and has since relocated its remaining operations to Altus.
Before the shutdown, the operation employed about 80 people in Oklahoma City.