Chicago - Farmland Industries Inc., North America's largest cooperative that markets crop production products, livestock feed, meat and petroleum products, reported 1998 company sales of $8.8 billion, down from $9.1 billion in 1997.
Sales from affiliated business bring the total to $11.9 billion, the company said in a statement.
President and Chief Executive Officer H.D. “Harry” Cleberg told members during the cooperative's annual meeting in Kansas City that $82.6 million was distributed to the cooperative's member-owners, including the special $50 million distribution in March 1998. Also, members received $32.5 million in 1998 patronage refunds.
“The next 18 months will give us more opportunity than the past 18 years to evaluate alliances, ventures, acquisitions and consolidations. We must be prepared to take advantage of the opportunities before us,” Cleberg said.
Meat Industry Insights News Service
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Phone: 631-757-4010
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