NEW Directions December 2016 : Page 1

field LOOKING BACK on 2016 by Dan Dix ddix@newcoop.com YOUR PA RTNER in the DECEMBER 2016 The past fiscal year was certainly an exciting time for NEW Cooperative. Records were set in bushels handled, seed and chemical sales, cash returned to members, and dollars invested back into your company’s infrastructure. Each of these is due to the tremendous support of our member owners. One of the biggest highlights of this past year was the record $53 million dollars of capital investments put back into the future of NEW Cooperative’s facilities. In Sloan and Washta, we added a combined two million bushels of grain storage and faster receiving speed. Next, the Roelyn fertilizer terminal was completed and now serves as a central fertilizer hub for Regions 1 through 4. In addition, a new satellite fertilizer plant was built at our Cooper location. The combined services of our Roelyn fertilizer terminal, and satellite plants in Cooper and Rowan, now meet the crop nutrient needs for seventeen NEW Cooperative locations. Other capital investment projects included a new dryer in Lidderdale, and a feed mill in Pomeroy. Finally, just over $16 million dollars of rolling stock was updated, or replaced, including semis, floaters, ammonia equipment, and other miscellaneous pieces. Another big highlight of 2016 was the $21.3 million dollars of local earnings on sales of $928 million dollars, providing for another successful year. This enabled NEW to return a record $19.4 million dollars in cash directly back to our member owners and our local economies. This is a direct reflection of New Cooperative’s strong balance sheet and the tremendous support of our member owners! Finally, a review of 2016 would not be complete without highlighting what was harvested this past fall. The 2016 harvest ended up being the largest crop NEW Cooperative has ever handled, totaling 131 million bushels. This past fall’s receipts were up another 7.5 million bushels over last fall, driven by record bean yields, and new corn and bean business across many of our facilities. We look forward to seeing if we can break these grain records again in 2017! Keeping up with speed and space continues to be a priority for NEW Cooperative. Continued on next page. MAIN OFFICE 2626 1st Avenue South P.O. Box 818 Fort Dodge, IA 50501 515-955-2040 www.newcoop.com

Next Page


Publication List
Using a screen reader? Click Here