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Merger talks with NEW and Western Iowa Co-op
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IowaMark
Posted 3/27/2015 05:42 (#4479621)
Subject: Merger talks with NEW and Western Iowa Co-op



NW Iowa. / SW Arizona
I know a co-op consolidation thread was discussed at great length not to long ago so I'm not really looking to rehash that all over again. A local co-op I have a share in WIC ( Western Iowa Co-op ) had an informational meeting yesterday on a possible merger with NEW Co-op out of Fort Dodge. Our local co-op board is endorsing this possible merger, it will be up to the WIC members to vote in April to decide if this will go through or not.

There was a lot of good discussion in the previous thread about the good and bad of larger co-op mergers. Of course the presentation put on yesterdsy by both WIC and NEW representatives was all positive, which I fully expected.

I have my thoughts on both the pros and cons of this possible merger but at this time want to keep them to myself.

I do have a few questions for you farmers out there that now belong or do business the NEW co-op system.
1. Are you happy with the way NEW does business after merging with them?
2. Are your inputs cost cheaper or as competitive with NEW vs. other area businesses in your area?
3. Do you see better or equal grain bids from NEW compared to other local bids in your territory?
4. Has it been a positive move for your local farmers and employees with all the mergers since NEW started back in 1973?

No more questions. Currently WIC doesn't always have the cheapest input cost to buy from nor does it have the best bid on grain prices. From the presentation I heard yesterday I'm not sure if this will change much.

I would love to say I do all my business with WIC now but I can't. Economically for me it hasn't always made sense. Will this change if the merger goes through, only time will tell. It does look like from what I heard yesterday NEW has been very profitable and does reinvest a lot back into their facilities. Thank you for any comments one way or another. Mark
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