GROWMARK Reports Estimated Year-End Financial Results

Pride and Progress was an appropriate theme for the GROWMARK Annual Meeting held in Chicago on Aug. 31 when Jeff Solberg, chief executive officer, announced unaudited, estimated sales of $10 billion for the 2012 fiscal year. This is the highest in the co-operative’s history.

GROWMARK’s pretax income is estimated at $295 million, the second highest in the company’s history. An estimated $140 million in patronage refunds – also a company record -- will be returned to GROWMARK member co-operatives and farmer-owners.

“This is our 85th year as a co-operative system and we are proud of the progress from our founding to now reporting the strongest sales numbers in our history,” he said. “Our business is built around our mission to improve the long-term profitability of our member-owners. With our record sales this year, we are able to return a record amount of patronage to our owners. We remain committed to their success and to the unity of our co-operative system.”

2012 is an historic year for GROWMARK. Along with celebrating its 85th anniversary of the formation of the predecessor companies that make up today’s GROWMARK System, 2012 is also the International Year of Co-operatives, designated by the United Nations.

"Pride and Progress provides an avenue to honour our co-operative heritage, showcase our success, and demonstrate our commitment to ongoing improvement," says Solberg.

Operational highlights for the company’s business units were also reported at the Annual Meeting and are available at: www.growmark.com