LYNDEN, Wash., April 6, 2015 /PRNewswire/ -- The voting
producers of Whatcom Farmers Cooperative (WFC), a full-service ag
cooperative based out of Lynden,
Wash., have approved a merger with CHS Inc. (NASDAQ: CHSCP),
the nation's leading farmer-owned cooperative. The proposal will
become effective in July 2015,
pending appropriate due diligence by both organizations and
approval by the CHS Board of Directors.
"I want to thank the producers of Whatcom Farmers Co-op for
turning out and making a clear statement that we should move
forward with the merger. A lot of time and effort by the board of
directors went into the decision to bring this proposal to our
members," said WFC Board Chairman Jeff
Bedlington. "WFC will remain a locally based company,
staying true to its roots. We are excited for the opportunities
that CHS and WFC can provide for our employees and customers."
"CHS continually looks for strategic opportunities that
strengthen our ability to help our farmer-owners grow their
businesses," said Lynden Johnson, executive vice president, CHS.
"We're very pleased to be able to build on the already-strong local
expertise for producers in this trade territory."
Customers should expect a smooth transition, including
continuity of staffing at its current locations. Don Eucker will continue to lead the group as
general manager.
Founded in 1941 as Whatcom Grange, today Whatcom Farmers
Cooperative (1982) provides the products, services and expert
advice that farmers, agricultural businesses and homeowners need
through its agronomy, energy and retail store operations. WFC has
locations in the communities of Lynden, Bellingham, Fairhaven, Ferndale, Blaine and Nooksack which serve customers throughout
Whatcom County.
CHS is a leading agribusiness owned by farmers, ranchers and
cooperatives across the United
States. Diversified in energy, grains and foods, CHS is
committed to helping its customers, farmer-owners and other
stakeholders grow their businesses through its domestic and global
operations. The company supplies energy, crop nutrients, grain
marketing services, animal feed, food and food ingredients, along
with business solutions including insurance, financial and risk
management services. CHS operates petroleum refineries/pipelines
and manufactures, markets and distributes Cenex® brand refined
fuels, lubricants, propane and renewable energy products.
This document contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995
that are based on management's current expectations and
assumptions. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from the potential results discussed in the
forward-looking statements. The company undertakes no obligations
to publicly revise any forward-looking statements to reflect future
events or circumstances. For a discussion of additional factors
that may materially affect management's estimates and predictions,
please view the CHS Inc. annual report filed on Form 10-K for the
year ended Aug. 31, 2014, which can
be found on the Securities and Exchange Commission web site
(www.sec.gov) or on the CHS web site www.chsinc.com.
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SOURCE CHS Inc.