Dairy farmer-owners review cooperative’s performance at annual meeting
Bloomington, Minn. (March 23, 2015) — Record dairy markets and a focus on the foodservice sector pushed sales for Associated Milk Producers Inc. (AMPI) to $2.2 billion in 2014. According to AMPI co-President and Chief Executive Officer Donn DeVelder, this was a historic year.
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This past year marked five years of consistent growth in the foodservice sector for the dairy cooperative. AMPI co-President and Chief Executive Officer Sheryl Meshke says cheese sales to foodservice customers rose four percent in 2014.
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Despite strong sales and profitable operations, a year-end drop in the markets devalued product inventory. That combined with losses from a December fire at the Portage, Wisconsin, plant, resulted in a $10 million loss for 2014.
AMPI Chairman Steve Schlangen, who is a dairy farmer near Albany, Minnesota, is unveiling the cooperative’s new, long-range strategic plan at its annual meeting.
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The AMPI Annual Meeting is underway today and tomorrow in Bloomington, Minnesota. At the meeting, AMPI delegates will consider resolutions and review legislative priorities.
About AMPI: Headquartered in New Ulm, Minn., Associated Milk Producers Inc. (AMPI) is a milk marketing cooperative owned by 2,500 Midwest dairy farm families who operate farms in Wisconsin, Minnesota, Iowa, Nebraska, South Dakota and North Dakota. AMPI members own 10 manufacturing plants and market cheese, butter and powdered dairy products, serving foodservice, retail and food ingredient customers. AMPI dairy farmer-owners market 5.8 billion pounds of milk annually, resulting in $2.2 billion in sales for the cooperative.