New 'Lakes Co-op' reports $44.2 million in sales
The Perham Cooperative Creamery Association (PCCA) held its 97th annual stockholders meeting at Mulligan's on March 18.
The meeting was called to order by President Gladwin Walker.
Cooperative manager Dale Tellinghuisen presented the audit, reporting sales of $44.2 million and earnings of $2.6 million. He then gave a detailed report of 2009 and looked forward to 2010 opportunities that are available due to the recent merger with Menahga-based Co-op Sampo.
Secretary Marlin Flatau gave the board of directors' report and thanked patrons and employees for their support in 2009.
The cooperative announced it will be paying out over $1.1 million in cash, and issuing $1.7 million in equity to patrons of the company-based on 2009 purchases.
As of January 1, PCCA merged cooperatives with Co-op Sampo to form "Lakes Area Cooperative."
Lakes Area Cooperative is a diversified energy, farm supply and milk purchasing cooperative with locations in Perham, Ottertail, Battle Lake, Vergas, Dent, Menahga, Wolf Lake and Park Rapids.
Milk Quality Awards were presented to 21 local dairy farms. Three incumbent directors were elected for another term, including Gladwin Walker, Marlin Flatau, and Ken Herbranson.