Printer Friendly

LAND O'LAKES CHAIRMAN SAYS TEAMWORK IS KEY TO GROWTH, SUCCESS

 LAND O'LAKES CHAIRMAN SAYS TEAMWORK IS KEY TO GROWTH, SUCCESS
 MINNEAPOLIS, Feb. 26 /PRNewswire/ -- "As farmers, ranchers, managers and members of cooperatives, and residents of rural communities, we're no strangers to teamwork. Teamwork is our heritage. It's how we've built American agriculture, and how it's grown into the efficient system that it is today," said Stan Zylstra, chairman of the Land O'Lakes Board of Directors at the cooperative's annual meeting, Feb. 25-26 in Minneapolis. More than 3,000 members of the cooperative attended the event.
 "To be successful in today's agriculture, in today's global markets, it takes teamwork at all levels," he said. Zylstra cited examples of how the cooperative and its membership have grown through teamwork on the farm, in the market, internationally, in research and development, and in Washington.
 The Cenex/Land O'Lakes joint venture, which brought together the two cooperative's ag supply operations five years ago, is one key example. Through increased efficiency, growth in market share and teamwork, the joint venture has contributed significantly to improved performance for both companies. In 1991, Land O'Lakes posted record earnings of more than $53 million.
 "By linking our strengths in feed and seed with those of Cenex in petroleum, and adding our mutual expertise in agronomy, we've created a system that serves members more efficiently and effectively than ever before," Zylstra said.
 The cooperative's financial performance helps strengthen the members' equity ownership and allows Land O'Lakes to pursue an aggressive policy of increasing revolvement of equities, he added. In 1988, cash returns totalled $11.5 million; in 1991, they reached $29.4 million, representing 79 percent of Land O'Lakes net earnings in 1990.
 In its international programs, Land O'Lakes draws on its own agricultural expertise in helping farmers and organizations in a number of developing countries improve their agricultural practices and strengthen their economies.
 "Our international efforts have done much to enhance our reputation as a farsighted organization, and one that foreign customers would like to do business with," Zylstra said. "Through teamwork we can help developing economies grow now, so that in the future they will help our business expand."
 In closing he said, "Without teamwork, the cooperative system itself can't be successful and won't endure. Through this teamwork -- whether on the farm, through local cooperatives, in Washington, or overseas -- Land O'Lakes is improving, strengthening, growing and succeeding."
 Land O'Lakes is a Twin Cities-based food and agricultural cooperative owned by farmers, ranchers and local cooperatives in 15 states. It provides agricultural supplies to more than 1,600 local cooperatives serving 300,000 farmers, and it procures milk from more than 6,000 Upper Midwest dairy producers. The cooperative is widely recognized for the more than 600 food products it markets in the United States.
 -0- 2/26/92
 /CONTACT: Terry Nagle of Land O'Lakes, 612-481-2271 or 612-335-6811 (2/25-26)/ CO: Land O'Lakes, Inc. ST: Minnesota IN: SU:


AL -- MN001 -- 2608 02/26/92 02:05 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 26, 1992
Words:488
Previous Article:TELEFONOS DE MEXICO REPORTS RESULTS
Next Article:COOPERATIVES CRITICAL TO FUTURE OF FAMILY FARMS
Topics:


Related Articles
LAND O'LAKES AND MEMBER-PRODUCERS STRENGTHEN SUCCESSFUL PARTNERSHIP
BUSINESS ENVIRONMENT, FUTURE STRATEGIES OUTLINES BY LAND O'LAKES CEO
LAND O'LAKES TAKES CHARGE OF CHANGE, CHAIRMAN SAYS
LAND O' LAKES TO CELEBRATE 75TH ANNIVERSARY AT 1996 ANNUAL MEETING
Land O'Lakes Reports Positive Results in Challenging Year
Countrymark Co-op, Land O'Lakes Members Approve Unification
Strategic Growth Necessary to Enhance Returns to Members, Land O'Lakes Chairman Reports.
Land O'Lakes CEO Reviews 2001 Performance and Outlines Strategic Direction.
Land O'Lakes Recognized for Outstanding Business Achievements; Earns Microsoft Business Solutions Pinnacle Award for Excellence in Customer Service.
Jack Gherty, Former Land O'Lakes CEO, Inducted Into Cooperative Hall of Fame.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters