Reynolds, N.D, and Halstad, Minn., elevators to merge
The Reynolds (N.D.) United Co-op and Halstad (Minn.) Elevator Co. are merging effective Jan. 1, 2019. The new organization will operate as Valley United Co-op.
Patrons of the two cooperatives approved the merger on July 11.
Officials promise a smooth transition, including continuity of staffing at its current locations. Paul Coppin, who now heads Reynolds United, will lead the group as CEO/General Manager.
“The possibilities and opportunities for the new co-op are endless and the future looks bright for members of our co-op,” Coppin said in a written statement.
The merger was what members wanted, officials of the two cooperatives said.
“We listened to our members and it was based on their comments that we brought this to a vote of the membership,” Ron Adams, Reynolds United Co-op board president, said in the statement.
“We’re pleased that the patrons concluded that the unification of both cooperatives can bring additional value to members and ensure the long-term relevance and viability of a unified cooperative. We want to thank them for their support and participation in this important part of cooperative governance,” Adams said.
“This is a merger of two financially strong, legacy-rich cooperatives,” Rod Olson, president of Halstad Elevator Co., said in the statement. “Our mission now is to seize this opportunity to build a new, even stronger cooperative better able to serve our member-owners. As we go forward, we will create new efficiencies, take advantage of new technologies and continue to build a strong employee team – all in order to create more value for our members.”
Robin Stene, current general manager of Halstad Elevator Co, said in the statement, “We are excited about the opportunities ahead for both customers and employees of both cooperatives. We look forward to enhancing and building upon the already-strong local cooperative expertise available to producers in the region.”