Madoc Co-operative Association

Madoc Co-operative Association
Warkworth Co-operative Services

Warkworth Co-operative Services

April 05, 2006 12:38 ET

Northumberland and Hastings County Co-operatives Looking to Unite

MADOC, ONTARIO and WARKWORTH, ONTARIO--(CCNMatthews - April 5, 2006) - Warkworth and Madoc Co-operatives boards of directors recently signed a letter of intent to pursue uniting their operations.

The decision will be made by members of the two organizations at special general meetings to be held in the summer.

"Agriculture in Ontario has been difficult," says Warkworth Co-operative Services Acting General Manager Bill Demerling. "It's really too difficult for these two co-operatives to deliver the services that members need without looking at working together more effectively."

Warkworth and Madoc Co-operatives have shared personnel and senior managers in the past," adds Demerling. "What our boards are investigating will be an extension of that partnership."

Madoc Co-operative Association General Manager John Vincent says, "This strategic business decision is a logical "next step" in our relationship and will have a dramatic effect on the operating efficiency of these co-ops by helping to reduce administrative costs and improve buying power. The members' ownership in their respective co-operatives is expected to transfer to the new, united entity. Investments will transfer as well," adds Vincent

The formation of this new co-operative entity, pending member approval will likely take effect on September 1st.

Warkworth Co-operative has branches in Norwood, Warkworth and Campbellford. Madoc Co-op's branches are in Madoc, Foxboro and Tweed. Both co-operatives provide feed, agronomy and consumer goods to their customers. In addition, Madoc Co-op has an ATV dealership. Formed in 1952, Warkworth Co-op serves producers primarily in Northumberland County. Madoc Co-op was founded in 1948 and serves Hastings County. The co-operatives' combined revenue is $16 million. Both co-operatives are member-owners of GROWMARK, Inc., and market products and services under the FS banner. Visit:

www.fssystem.com

www.madoccoop.com, and

http://www.warkcoop.com


Contact Information

  • Madoc Co-operative Association
    John Vincent
    General Manager
    (613) 473-4227
    jvincent@madoccoop.com
    or
    Madoc Co-operative Association
    262 St. Lawrence Street W.
    Madoc, ON K0K 2K0
    or
    Warkworth Co-operative Services
    Bill Demerling
    Acting General Manager
    (705) 924-2322
    bdemerling@warkcoop.com
    or
    Warkworth Co-operative Services
    9 Mill Street
    Warkworth, ON K0K 3K0