Posted 4 months ago
By Kevin Horn
2013 was another great year for the Western Cooperative, otherwise known as WESTCO, based in Alliance.
At the 72nd annual Stockholders’ meeting held Wednesday night at the Alliance Performing Arts Center, Chief Executive Officer David Briggs announced that the cooperative enjoyed a record year, finishing with net savings of $10.7 million. 2012 was also a record year for WESTCO, with a net savings of over $8.8 million.
Briggs says the success of local farmers has had a positive impact on WESTCO’s bottom line.
WESTCO will be returning $3.6 million in cash back to its members via the mailing of over 6,000 checks Thursday.
WESTCO realized $181 million in sales during this past fiscal year, and reported just under $88.4 million in total liabilities and members’ equity.
Briggs confirmed that WESTCO would be offering contracting opportunities for customers in agronomy and petroleum, and he encouraged members to lock in their agronomy and petroleum costs for 2014. He says the cooperative will also expand its bean plant in Gering.
Mark Buskirk and Mark Kimmell, both of Alliance, and Erik Peterson of Gering were elected to the board of directors to serve three-year terms.
WESTCO was founded in 1942, and offers products in services in several Nebraska towns and Torrington, Wyoming.