The 81st Annual Stockholders’ Meeting of Western Cooperative Company (WESTCO) took place Monday, December 19 at the Westside Event Center in Alliance. The event had to be rescheduled from its original date of December 14, due to weather. Over 100 people attended the meeting.
Controller Shawn Nelson presented the financial reports for the 2022 fiscal year, showing the cooperative had $171 million in Sales and generated a Net Savings of $9.7 million.
In the Annual Board Report, Chairman Erik Peterson, of Gering, informed the members that 2022 was WESTCO’s fourth best year in history and the Board approved Equity Redemption for all members age 70 and older. In total, WESTCO is returning $3.2 million in cash back to members, following the Annual Meeting.
President & CEO David Briggs, reviewed the six divisions that serve the members, highlighting many positives for the year, including a record fertilizer volume and the acquisition of the fertilizer facility in Wheatland, Wyoming.
The Board recognized Peterson and Allan Thorson, of Hay Springs, who fulfilled their terms on the Board. Overall, Peterson served on the WESTCO Board of Directors for nine years, while Thorson served for 15 years. In other business, Scott Schoeneman, of Alliance, was re-elected to serve another term, while Mario Pitts of Lyman and Lynden Smith of Hay Springs, were elected to join the Board of Directors.