Perham Co-op notches record sales
The Perham Cooperative Creamery Association held its annual meeting March 20 at Mulligans.
At the meeting more than 100 people learned that the cooperative of 318 common stock holders, had a record year in sales at 51.5 million and a strong year financially with Net Margins of $540,554.
President of the Board, Gladwin Walker, thanked the patrons and employees for their support of the cooperative. Secretary, Marlin Flatau, gave the directors' report and told members of over $900,000 in improvements in 2007. He also announced estimated dividend rates of 4.8 cents/cwt on milk, 2.7 percent on feed, 4.48 percent on fertilizer, and 3.29 percent on petroleum.
The co-op also had a total of $250,000 in equity retirement checks on hand to pass out to members.
The managers' report was given by Dale Tellinghuisen and quality milk awards were presented to 22 members, who sold milk to Perham Cooperative Creamery during 2007. The co-op bought 141 million pounds of milk in 2007 and sold to Bongards in Perham.
The Perham Cooperative Creamery is a cooperative established in 1912, which has 13 million in assets. Over the years, Perham Co-op has expanded from its original roots as a creamery to other agriculture supply and consumer retail businesses, such as feed, fertilizer, ag chemicals, custom application, meat processing and retailing, refined fuels, propane, convenience stores, motel, and a laundry.
The Perham Cooperative Creamery also has locations in Battle Lake, Dent, Vergas, Menahga, Park Rapids, and Ottertail.