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AGP hosted its 34th Annual Meeting on January 18 and 19 in Omaha, NE. Member participation was outstanding with approximately 1,000 people in attendance.
The Annual Meeting theme of “Forging Ahead” highlighted AGP’s focus and determination amid business conditions facing the company and the agricultural sector. AGP reported solid earnings and a commitment to continue to optimize performance through focused effort, investments, and growth initiatives.
The business meeting included members voting for candidates to serve on the Board of Directors. Re-elected to three-year terms were the following directors: Brad Davis, CEO/General Manager of Gold-Eagle Cooperative, Goldfield, IA; Bruce Granquist, Producer from LaBolt, SD; and Larry Oltjen, Producer from Hiawatha, KS.
“The last several years have been very strong, and the progress and success achieved in fiscal 2017 was solid as well,” said Brad Davis, Board Chairman. “Much of our company’s success is the result of the great support we receive from its member-owners and we thank you for that loyalty and continued business. I would also like to thank all the management and employees who make AGP such an excellent company.”
Keith Spackler, Chief Executive Officer, outlined a number of operating achievements for AGP in fiscal 2017. These included record volumes of soybeans processed, soybean oil refined, biodiesel produced, and tonnage marketed through the company’s export terminal at the Port of Grays Harbor in Aberdeen, WA.
Looking forward, Spackler said AGP is off to a good start for fiscal 2018 and improved returns are anticipated. “We are all aware of the cycles in agribusiness. Our ongoing commitment to AGP’s member-owners is to pursue success in all aspects of what we do to continue forging ahead in the strategic direction of this cooperative.”
Cal Meyer, Chief Operating Officer, said AGP’s ongoing capital investment program continues to be instrumental in the company’s volume growth and operational success. Investments at all of AGP’s processing, refining, and biodiesel facilities positions AGP well for long-term success.
“AGP achieved solid financial returns in agriculture’s challenging business environment,” reported Scott Simmelink, Chief Financial Officer. “AGP’s strong balance sheet allows for capital investments and solid cash returns to members.”
Additional management presenters were Senior Vice Presidents Mark Sandeen, Chris Schaffer, and Troy Alberts. Each highlighted the success of the past year and discussed future opportunities within their business units.
AGP’s 2018 Annual Meeting is scheduled for January 17 and 18, 2019, at the La Vista Conference Center.