ST. PAUL, Minn., June 13, 2013 /PRNewswire/ -- CHS Inc. (NASDAQ: CHSCP), an energy grains and foods company and the nation's leading farmer-owned cooperative, and Elburn Cooperative, an integrated grain and ag retail company headquartered in Sycamore, Ill., today announced creation of a joint venture company which will offer agronomy retail products and services. The new company will be based out of the existing CHS crop nutrients operation in Crescent City, Ill. CHS will continue to operate its wholesale fertilizer business from this location.
Current CHS wholesale operations staff, along with new retail sales and additional operations hires, will be ready to serve area farmers in early September 2013. In addition to staffing, modifications to the current load-out capacity and office building, along with delivery of custom application equipment and product inventory are necessary before then.
"Expanding our retail geographic footprint to Crescent City fits our company's strategic growth plan very well," said John Husk, CEO and general manager of Elburn Cooperative. "Having CHS as our partner in this venture is very exciting. We look forward to bringing Elburn's advanced toolbox of retail agronomy solutions to the area to help those growers succeed."
"We are excited to work with a partner like Elburn Cooperative that shares our focus on providing local expertise and exceptional customer service," said John McEnroe, executive vice president, CHS Country Operations. "Working together is one more way we stay true to helping our owners grow."
Elburn Cooperative (www.elburncoop.com), in business since 1921, serves its owner-farmers as a full-service supplier of agronomy, feed, seed, energy and grain marketing services from 12 locations in north central Illinois and south-central Wisconsin.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, 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.
This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management's current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management's estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2012, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.
SOURCE CHS Inc.