Hundreds of cooperative patrons attended meetings August 25 on the proposed Midwest Farmers Cooperative merger with Alceco, the company that includes local grain elevators in Albert City, Alta and Fonda.
Meetings were held in Sheldon, Maurice, and Sutherland. Troy Upah, CEO of Ag Partners, LLC., Skip Hein, General Manager of Midwest Farmers Cooperative, Dixon Van Meeteren, Board Chairman of Midwest Farmers Cooperative, and Jim Franzmeier, Board Chairman of Alceco all took part in presenting the proposed merger details.
"We were elated with the attendance, great dialog, and the strong support that we've received during and since the meetings", said Dixon Van Meeteren, Board Chairman of Midwest Farmers Cooperative.
"We believe this merger is in the best interest of our members for many reasons including the fact that 100% of our patrons local equity will be paid out over a five year period, with over one million dollars being paid to our members the first year. The merger will also help our combined companies keep and attract great people, provide greater access to capital, while still giving Midwest Members board representation with the new company thus maintaining our local influence."
"These meetings proved to be a great forum in which we could provide facts to the Midwest members as it pertains to the proposed merger, while providing some insight to members as to the inner-workings of the current Alceco business", says Jim Franzmeier, Board Chairman of Alceco.
"I was asked, 'I can see why Midwest Farmers Cooperative would want to merge with Alceco, but why does Alceco want to merge with us?' The answer was simple, we share similar values. As a joined company we will both be stronger and better equipped to serve the long term needs of our members".
Midwest Farmers leaders urged their members to vote and highly recommended votes in favor of the merger. The deadline for ballots to be returned is Sept. 19.
More information on the merger is available by calling 1.877.756.5460.
Alceco, through its Ag Partners' joint venture, operates facilities in Sheldon, Hartley, Calumet, Alta, Emmetsburg, Fonda, Royal, and Albert City.
Midwest Farmers Cooperative has locations at Sheldon, Matlock, Hospers, Norwest Ag in Boyden, Maurice, Orange City, Carnes, Alton, Sutherland, Le Mars and Merrill.