AGRIS Co-operative reports record financial year

CHATHAM, Ontario, Jan. 17, 2022 (GLOBE NEWSWIRE) -- AGRIS Co-operative board announced at its virtually-held annual meeting on January 12, patronage of $1.2 million will be returned to its farmer-owners.

Total enterprise revenues in 2021 for AGRIS Co-operative were more than $310 million, with $3.0 million added to retained earnings to support its operations. Patronage will be issued as 40 per cent cash and 60 per cent stock.

"Fiscal 2021 was a record year with gains in revenue and market share, as the sun sets on our company's 100th anniversary," John Nooyen, AGRIS Co-operative president, provided the membership with this very positive report. "Despite the continuing challenges we face, we had another solid performing year. AGRIS owners, customers and staff continue to work in unison, with COVID-19 safety protocols in place, to keep growing our business and make doing business with AGRIS easier. The board has worked extremely hard to keep moving the needle forward on our strategic and digital technology initiatives, especially with our ever-expanding customer portal, AGRIS myFS."

"We are proud of our community-focused business that balances people, planet and profit. We recognize our good fortunes and the needs of the communities we serve as we continue to give back with a donation this past December to a food bank distribution centre that serves food banks in our local areas."

In his year-end report to owners, AGRIS Co-operative general manager Jim Campbell said, "Our sales were strong again this year as we continue to focus on growth, customer service excellence and progress on our digital transformation strategy. Our team continues to expand our efforts to find hybrid solutions to keep our relationship with our customers fresh and personal. Our customer-first digital platform ?AGRIS myFS' is developing rapidly allowing us to keep connected with our customers." Campbell reiterated for owners the ongoing solid financial results for AGRIS has built a strong balance sheet with over $50 million in local owner investment, "allowing us to withstand headwinds and continue to invest in opportunities for the benefits of our farmer-owners."

Jim Anderson of Kent Bridge, Moe Chauvin of Stoney Point, Kim Fysh of Thamesville, Larry Pajot of River Canard, and Mike Zink of Chatham were all elected as directors to a three-year term on the board. Elected to a two-year term is Cameron McWilliam of Dutton.

Immediately following the annual meeting, the directors met to elect the executive for 2022. John Nooyen was re-elected as board president, Scott McGeachy was re-elected as board vice-president, and Patrick Vanheule was re-elected as secretary.

AGRIS would like to thank and recognize Neil Huber for his strong contribution to the board after serving six years.

AGRIS welcomes Kim Fysh back to the board as a full voting member. Cameron McWilliam is also a welcome addition to the AGRIS Board. Cameron is a long-time customer of AGRIS and has a lot of experience and knowledge to contribute.

AGRIS Co-operative Ltd. is a 100 per cent farmer-owned grain marketing and farm-input supply company that serves more than 1,000 farmer-owners in 14 locations in Essex, Kent, Elgin, Middlesex and Lambton counties. It is a leader in precision farming technology, seed, agronomy and petroleum services. The co-operative is a partner in Great Lakes Grain, a grain merchandising company. AGRIS Co-operative is a member-owner of GROWMARK, Inc. and markets products and services under the FS brand.

Visit http://www.agris.coop and www.fssystem.com for more information.

Media contact:
Jim Campbell
General Manager
AGRIS Co-operative Ltd.
Phone: 519-380-2371
Email: [email protected]