CUDAHY (WKOW) -- Patrick Cudahy's parent company reached a $208 million settlement with its insurance carriers over a fire that destroyed part of the meatpacking plant in July 2009.
An earnings report filed by Smithfield Foods Inc., says the settlement far exceeds the estimated $50 million damage to the plant.
The fire started when a neighbor launched a military flare to celebrate the Fourth of July. The flare landed on the roof of the plant.
No one was hurt.
About 1,400 workers were displaced by the fire, but nearly all returned to work within three months.
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