AGP Grain Cooperative Announces Texas Grain Elevator Acquisition
Date Posted: July 19, 2002
AGP Grain Cooperative announced plans to purchase grain elevators from Sherley - Anderson Grain Company of Bovina, TX.
The purchase consists of facilities in 10 locations near Clovis, NM; Farwell, TX; and Bovina, TX.
"The Board of Directors approved this purchase to expand destination markets for our local cooperative members and their farmer owners," said Marty Reagan, Chief Executive Officer (CEO).
"By linking these facilities and the customers they serve in the Texas Panhandle with AGP members, we have enhanced our ability to add value to Midwestern grain production." The grain elevators represented in the purchase have a combined storage capacity of approximately 24 million bushels.
They are served by the Burlington Northern Santa Fe (BNSF) Railroad and are located on major highways.
"Growth in this area's livestock feeding and dairy production has created a strong market for Midwest grain and grain products," said Mike Knobbe, Group Vice President, Grain. "The Texas Panhandle is a key domestic destination market and fits our strategic growth plan to serve our members."
"Sherley-Anderson Grain Company has successfully served area farmers in Palmer and Currie Counties since 1947," said Knobbe.
"And we look forward to continuing this long held tradition of providing quality products and services to our area producers."