PYCO Oil Mill has announced plans to shut down its plant in Greenwood, idling 59 workers.

PYCO, based in Lubbock, Texas, issued the 60-day notice as required by federal law. The shutdown, if it occurs, would come in March.

John Stewart, PYCO’s Mid-South manager, says the company is looking at options that might keep the plant open. He had no details.

The oil mill, which began operations as the Yazoo Valley Oil Mill in 1957, became part of the Plains Yazoo Cotton Oil (PYCO) Industries Inc. in 1999.

PYCO Industries is the largest cotton seed cooperative serving the southern United States. In addition to the Greenwood plant, the company has two oil plants in Lubbock.