Cedar Country Co-op holds 2nd annual meeting
Cedar Country Co-op held its 2nd Annual Meeting at 10:30 a.m. on February 6th, 2013 at Bill’s Distributing with over 150 patrons in attendance. The order of business included an annual audit report, board member elections, general manager’s report, and lunch afterward.
The co-op’s auditor, Roger Van Someren, of Carlson Highland & Co., LLP reported a net profit of $3,384,525, or 4.5% of sales. He congratulated the patrons on another fine year.
Re-elected to the Board of Directors was Duane Kuester of Menomonie and Steve Ackerlund of Colfax. They thanked the patrons for their support.
Paul Diemert, General Manager, reported that Cedar Country Coop returned $2,900,000 in stock and cash to patrons for the fiscal year ended September 30, 2012. He explained that the patron dividends equate to 5.85% of sales, or $.22/gal for gas or diesel at $3.80/gal. Patronage is returned for purchases on all of the co-op’s products, including convenience store fuel and products, delivered fuel and propane, feed, automotive repair, and agronomy products. The co-op also returned $89,000 in stock retirements to members.
Diemert went on to report that a new bulk chemical and seed warehouse was built at the co-op’s Strum Agronomy location, much improving efficiency and environmental safety for the location. A new bulk fuel truck was added to the Energy Division, while the Agronomy Division will soon take delivery of another Row Gator, greatly enhancing the Variable Rate Technology capabilities at the co-op. Diemert finished his remarks by discussing the Colfax Convenience store remodel project slated for this summer. The main objective of the remodel will be to greatly improve fuel dispensing access and capability, but in-store changes are also planned.
At the close of the meeting, patrons were treated to a meal from Cedar Country’s own Exit 45 Restaurant.