Ag Services continues with $35 million expansion [UPDATED]Published 9:10am Monday, May 6, 2013 Updated 11:13am Monday, May 6, 2013
West Central Ag Services of Ulen, Minn., a locally owned and managed cooperative, held its annual meeting March 21, in Felton, Minn. At the annual meeting, West Central Ag Services reported record earnings of $16.5 million on $455.8 million in revenues. The cooperative returned $5.5 million back to its member owners in cash patronage and equity retirements. In addition to record earnings and equity retirements, West Central Ag Services reported capital
investments in 2012 totaling $12.9 million into new and existing facilities.
“2012 was a successful year for West Central Ag Services as well as the patrons we serve,” said Jesse McCollum, CEO,West Central Ag Services. “We had record revenues, growth, and expansion. In June, Beltrami Farmers Elevator merged with West Central Ag Services and we expanded the facility to a 110 car grain shuttle facility. With that expansion project complete, the Board has approved plans to continue with that same momentum going forward in 2013.”
West Central Ag Services plans to invest $22 million in 2013 on projects, including two fertilizer plants that will be built at its Beltrami and Foxhome locations.
West Central Ag Services’ project in Beltrami will include a state of the art 34,000 ton fertilizer plant. This increase in fertilizer capacity will complement the 1.5 million bushel grain facility expansion project that was completed last year.
The project at West Central Ag Services’ Foxhome location will include a state of the art 10,000 ton fertilizer plant which will replace its current 2,400 ton plant. This new plant will allow for more capacity and faster delivery, in order to meet the needs of the growers it serves.
Projects are scheduled to start this spring and will take less than a year to complete. West Central Ag Services plans for them to be up and running for the spring 2014 season.