Press Release -- INVER GROVE HEIGHTS, MN -- May 11, 2010 -- CHS Inc., a Fortune 100 energy, grains and foods company, and Farmers Elevator Company of Lowder, headquartered in Waverly, Ill., have signed a letter of understanding to explore a formal business partnership. If approved, the two companies would join forces to enhance agronomy and grain services to producers within the Illinois trade territory now served.
A proposed business agreement would be voted upon by Farmers Elevator’s 135 stockholders in June and put in place shortly thereafter.
“A partnership with CHS would be a great opportunity to expand market access for our customers’ grain,” said Greg Dolbeare, General Manager for Lowder. “It would also bring a new level of efficiency our customers would experience almost immediately.”
“The combination is a strategic move for both companies,” explained John McEnroe, senior vice president CHS. “And aligns with our core commitment to return value to member-owners.”
Since 1905, Farmers Elevator Co of Lowder (www.lowderelevator.com) has provided Illinois farmers and landowners with grain services and agricultural products and services. Today, it operates locations in Waverly and Auburn delivering grain storage and drying, grain marketing, customized crop protection application, seed and other agricultural inputs.
CHS Inc. (www.chsinc.com) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 100 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders across the United States. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products. CHS is listed on the NASDAQ at CHSCP.