|
 |
|
|
|||
|
 |
|
Dec. 7, 2020 Source: blog by Margy Eckelkamp, The Scoop Almost 1,000 people joined in the first-ever virtual annual meeting for Growmark. This event also marks the first for the company since its new expansion with Southern States. "We grow not just to get bigger but to get better," Growmark Chairman of the Board and President John Reifsteck said in a news release. "The recent partnership with Southern States is an opportunity for us to do both. Growmark pursues expansion opportunities if they allow us to serve more farmers and benefit the current farmer-owners of the Growmark System. We are especially open to partnerships with farmers who value the cooperative business model. That's why the Southern States agreement is such a good fit. I'm very excited about this partnership and want to welcome Southern States and 46 local cooperatives to the System." Growmark and Southern States closed on the business deal in late September. "Since we closed over two months ago, we have made great strides in synchronizing operations," said Growmark CEO Jim Spradlin. "As John mentioned, all forty-six Southern States' members signed special membership agreements. Growmark's Energy and Agronomy employees are engaged with our new Growmark members, seeking to earn their business every day. I'm pleased to say the partnership is designed to help each other succeed." The company cites a trifecta of challenges this year: • COVID-19 • a devastating derecho storm in key Midwest markets • energy volatility in the markets In the news release, Growmark said it was able to distribute nearly $65 million in patronage distributions to shareholders, and Chief Financial Officer Wade Mittelstadt said "financial performance was very respectable with strong earnings from operations." Tweet |
|
|
|
|
|
|
|
|
|||||||||||||
