Utah Co-ops join CENEX
The Utah Cooperative Association, a Salt Lake City based farm
supply cooperative, has voted to
join CENEX. The effective date
of the acquisition and the date
CENEX will begin supply Utah
cooperatives is May 1.
The announcement was made by
CENEX President J.G. Tvedt and
UCA General Manager W.B.
Robins following approval of the
sale by UCA stockholders at a
special meeting in Salt Lake
assets of UCA. This will enable
UCA to retire stock currently
held by local Utah cooperatives
which amounts to approximately $1.2 million.
"We feel this unification will
benefit both UCA, in providing a
strong source of supplies; and
CENEX, as a logical geographic
area of growth for our cooperative system," Tvedt said.
Robins stated that the needs of
Utah farmers, where cattle and
dairy operations small grain are
prevalent, are compatible with
those of the farmers and ranch
ers in the area CENEX serves.
The transaction will include the
transfer of all UCA assets. Approximately 35 employees also
will be transferred to CENEX.
Included in the acquisition is the
PAX Company, a UCA subsidiary which distributes the PAX
brand of lawn and garden products throughout the U.S.
UCA serves 17 locally-owned
cooperatives and nine dealer
agents throughout Utah. Sales
for fiscal year 1975 totaled
Additional fuel for customers
Refined product from this East Chicago (Ind.) Refinery will soon be supplying customers served by CENEX.
Acquisition of the 126,000 barrels-per-day facility by CENEX and eight other regional cooperatives is now
expected to be complete by May 1. The refinery is fed by a direct pipeline to the Gulf of Mexico. The plant will
supplement refined product from CENEX's Laurel (Mont.) Refinery and the National Cooperative Refinery
Association at McPherson, Kan.