Iowa cooperatives OK merger
FORT DODGE (NEW) – The Board of Directors of NEW Cooperative Inc. in Fort Dodge announced on April 24 of a merger with Western Iowa Cooperative, effective Sept. 1.
The members of Western Iowa Cooperative, headquartered in Hornick, have overwhelmingly voted to support the merger. Western Iowa Board President Tim Carlson said, “We are looking forward to joining the NEW Cooperative organization. This merger is a strategic decision that will position our combined company for long-term success.”
The vote to approve the merger is the latest step in a long term unification study between the two companies.
The results of the study showed that unification would be beneficial to both memberships in terms of expense savings, opportunities for increased products and services, and additional buying power due to increased volumes.
Under terms of the merger agreement, all Western Iowa Cooperative employees will remain on and become employees of NEW Cooperative.
Brian Wagner, NEW Cooperative Board President said, “It has been great working with the Western Iowa Board of Directors and management through this process.
“We strongly believe that this merger is in the best interests of the members of both our cooperatives.”
Please Enter Your Facebook App ID. Required for FB Comments. Click here for FB Comments Settings page