FOR IMMEDIATE RELEASE
AGRIS Co-operative reports solid financial results
CHATHAM, ONTARIO, January 19, 2020 – AGRIS Co-operative board announced at its first-ever virtually-held annual meeting on January 13, patronage of $1.5 million will be returned to its farmer-owners and investors.
Total enterprise revenues in 2020 for AGRIS Co-operative were more than $259 million, with $2.4 million added to retained earnings to support its operations. Patronage rebates will be issued as 33 per cent cash and 67 per cent stock.
“Fiscal 2020 will go down in the books as a year unlike any other in the co-op’s 100-year history”, John Nooyen, AGRIS Co-operative president, provided the members with this optimistic report. “Despite the unprecedented challenges, we had a solid performing year. AGRIS owners, customers and staff worked together, with safety protocols in place, to get this positive result. The board has worked extremely hard on the strategic plan. We recognise the importance of continued staff development and leveraging technology to make doing business with AGRIS easier.”
“The future continues to be bright for AGRIS, and we’ve been busy expanding and improving agronomy services and grain capacity. This year AGRIS Co-operative is celebrating its 100th anniversary. While we honour our past, we are solidly focused on the future and the next 100 years. We are very proud of all that we have accomplished thus far.”
In his year-end report to owners, AGRIS Co-operative general manager Jim Campbell said, “Our sales were strong again this year as we continue to focus on growth and customer service excellence. With the COVID-19 pandemic restrictions, our team learned new ways to connect with our customers. We can’t thank our owners and customers enough at how well they adapted to these challenges.” Campbell reiterated for owners the ongoing solid financial results for AGRIS has built a strong balance sheet with over $50 million in local owner investment, “allowing us to withstand headwinds and continue to invest in opportunities for the benefits of our farmer-owners”.
John Nooyen of Kent Bridge, Peter Dieleman of Wallacetown, Stan Gillier of Chatham and Allan Parks of Amherstburg were all elected as directors to a three-year term on the board.
Immediately following the annual meeting, the directors met to elect the executive for 2021. John Nooyen was re-elected as board president, Scott McGeachy was re-elected as board vice-president, and Patrick Vanheule was re-elected as secretary.
AGRIS Co-operative announced to owners that at the end of their fiscal year, Great Lakes Grain welcomed Embrun Co-operative into the fold as an important addition, expanding Great Lakes Grain’s marketing footprint eastward with opportunities to grow.
AGRIS Co-operative Ltd. is a 100 per-cent farmer-owned grain marketing and farm-input supply company that serves more than 1,000 farmer-owners in 14 locations in Essex, Kent, Elgin, Middlesex and Lambton counties. It is a leader in precision farming technology, seed, agronomy and petroleum services. The co-operative is a partner of Great Lakes Grain, a grain merchandising company. AGRIS Co-operative is a member-owner of GROWMARK, Inc. and markets products and services under the FS brand.
Visit http://www.agris.coop and www.fssystem.com for more information.
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Media contact:
Jim Campbell
General Manager
AGRIS Co-operative Ltd.
Phone: 519-380-2371
Email: jimc@agris.coop