Welcome!

News Feed Item

CHS putting Future First for its cooperative owners

MINNEAPOLIS, Dec. 6, 2013 /PRNewswire/ -- CHS Inc. (), the nation's leading cooperative and a global energy, grains and foods company, is committed to continued growth that will drive economic value to its farmer owners and the rural communities in which they live, its leaders told attendees at its recent annual meeting.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/58034-chs-inc-putting-future-first-for-cooperative-farmer-owners

"Our ultimate responsibility is to invent the CHS of the future by making the decisions, executing the investments and managing the financial health of this company in a manner that not only adds value for you today, but continues to pay off 10 and 20 years down the road," CHS President and Chief Executive Officer Carl Casale told attendees. "Ultimately, it's about taking actions today that will benefit tomorrow's owner, the generations that are now playing in farm yards or buying their first blue FFA jackets."

The CHS Annual Meeting, held Dec. 5-6 at the Minneapolis Convention Center, drew nearly 2,000 of the cooperative's owners and other stakeholders. Included in the event was a special New Leaders Forum which drew nearly 175 promising young farmers and ranchers from across the U.S. for an exploration of issues facing agriculture and rural America.

In recent years, CHS has completed or committed to $4 billion in acquisitions, expansions and upgrades in its energy, grains, and processing and food ingredients businesses with a goal of adding long-term value for its farmer and cooperative owners, as well as customers worldwide. Casale said as CHS pursues its growth strategy, commitment to safety will be the company's overriding priority.

CHS Board Chairman David Bielenberg, a Silverton, Ore., farmer, said the board of directors' primary goal is ensure the cooperative is appropriately capitalized to add value for its owners. In addition, he said, the 17-member farmer board must continue to expand its knowledge and ability to lead what is now one of the world's major agribusinesses, as well as one of the largest companies owned by farmers.

"And closest to home we must drive the CHS commitment to agriculture and a vibrant rural America, especially for the next generations of farmers and ranchers who will be our owners and customers," Bielenberg said.

Chief Financial Officer Tim Skidmore, who joined CHS in August 2013, told the company's owners that his priority is to maintain the strong balance sheet, the financial flexibility and the liquidity that ensures that CHS has access to the capital it needs to fuel growth.

"Continuing to generate strong earnings as we have in recent years certainly helps, but we are in volatile commodity businesses and our strategic direction includes significant growth," he said. "That means we must optimize our capital structure to manage both costs and the duration on our balance sheet of both assets and capitalization."

In November, CHS reported its second-best earnings on record at $992.4 million for fiscal 2013 (Sept. 1, 2013Aug. 31, 2013), down from a record $1.26 for fiscal 2012. Earnings reached a record $44.5 billion. At number 69 in 2013, CHS is the only cooperative in the 2013 Fortune 100. Based on its fiscal 2013 earnings, CHS will return an estimated $433 million in cash to owners in fiscal 2014.

Highlights for fiscal 2013 included

  • A $327 million expansion project which will increase production capacity at its McPherson, Kan., refinery by 18 percent to 100,000 barrels per day
  • Acquisition and construction of $18 million in propane terminals and storage to enhance dependable supply
  • Continued front-end engineering and design studies toward possible construction of a $1.5 billion nitrogen fertilizer plant at Spirit wood, N.D.
  • Global commodities expansion including new offices in Uruguay and Taiwan, an Australian wheat origination joint venture, a partnership in an Argentina sunflower processing plant now under construction, and a major upgrade and expansion of a joint venture grain export terminal at Kalama, Wash.
  • Continued investment in soy processing and food ingredients including storage capacity, quality assurance and safety
  • Investments in domestic crop nutrients supply and distribution and grain origination, many in conjunction with member cooperatives and locally-controlled CHS Country Operations retail facilities

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, animal 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, 2013, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS website www.chsinc.com.

 

Carl Casale, President and Chief Executive Officer

 

David Bielenberg, Chairman of the Board, CHS

 

Tim Skidmore, Executive Vice President and Chief Financial Officer

 

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/58034-chs-inc-putting-future-first-for-cooperative-farmer-owners

SOURCE CHS Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his general session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore...
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of patie...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.