AGRIS Co-operative returns $786,000 to its farmer-owners

Submitted by Terry Stevenson, AGRIS Co-operative communication manager

An income before tax of $1.7 million for 2011 was reported by AGRIS Co-operative Ltd. board president, Larry Pajot to the co-operative’s shareholders at its annual meeting held at Club Lentinas, in Chatham. Based on these results, Pajot announced that the board of directors has declared a patronage of $375,000 in addition to the $411,000 paid on interest bearing investments.

In his year-end report, Larry Pajot told owners that, “In 2011 AGRIS has been celebrating 90 years of serving its owners. Our owners are technology savvy, aggressive and competitive. With our net income we re-invest a large portion to modernize our operations.” It was also reported that with direction from its owners, AGRIS Co-operative sponsored a new sister co-operative, AGRIS Solar Co-operative. “This is now a standalone company and the largest solar co-operative in Ontario,” Pajot added.

AGRIS Co-operative general manager Jim Campbell reviewed the operational highlights of 2011 for owners. Campbell highlighted that during its first full five years of operation, sales have increased significantly. “More importantly, profitability has been positive during these past five years allowing us to distribute more than $1.5 million in patronage back to our owners,” says Campbell. Retained earnings have nearly doubled to $10.3 million with AGRIS owners investing $8.7 million in the co-operative, an increase of 35 per cent since 2006. “This increased owner investment and retained earnings has allowed the AGRIS board of directors to have aggressive capital spending budgets, increasing our grain storage capacity, custom application capabilities and overall maintain and expand our physical assets,” added Campbell.

The owners of AGRIS Co-operative also acknowledged the service and contributions of Pat Vanheule and Ken Barrette who are leaving the board with a commemorative plaque. The election of five directors for the co-operative was held and re-elected to a three-year term was Kim Fysh from the Thamesville area, Jim Maw from Mooretown, Stan Towers from Glencoe and newly elected was Stan Gillier from Chatham and John Nooyen from Kent Bridge. The board of directors met immediately after the meeting and conducted the election of officers. The following were elected; as president- Larry Pajot, vice-president – Jim Maw and secretary – Paul Repko.

L- R are: Emma Anger, Sarah McDonald and Amy McDonald were all sponsored by AGRIS Co-operative to attend the 2011 Co-operative Young Leaders program last summer. All three youth spoke about their experiences at CYL and the many leadership skills they learned.

To view more photos of the Annual Meeting link to: ttps://picasaweb.google.com/southerncooperativeservices/2012AGRISAnnualMeeting?authkey=Gv1sRgCKW_k5T-7YiecQ&feat=email#