Recently it was announced that the board of directors of NEW Co-op, headquartered in Fort Dodge, IA, reached out to MaxYield’s board about conducting a study to evaluate what a combined effort of the co-ops might look like. The MaxYield board of directors unanimously agreed to move forward with a unification study.
The letter below was sent to Class A (voting) members of MaxYield Cooperative on February 16th, announcing that MaxYield Cooperative has entered into a unification study with NEW Cooperative, headquartered in Fort Dodge, IA.
February 16, 2021
Dear MaxYield Cooperative Voting Members and Other Interested Parties:
This letter is to inform you that MaxYield’s Board of Directors recently met with the NEW Cooperative, Inc. Board of Directors and senior management, with headquarters in Fort Dodge. The purpose of this session was to exchange information about each organization and discuss what the advantages and disadvantages might be of a fully combined cooperative operation.
As our traditional trade areas are contiguous to one another, some level of familiarity with each other already exists. Over the next several weeks, management and employees in operational areas of the companies will be meeting to explore the potential value of all our members working together in a combined organization.
While we believe that MaxYield is a successful member responsive organization, we must look forward and prepare for the future. We are proud of MaxYield’s accomplishments and financial strength. However, it is the job of the elected Board of Directors and management to explore all opportunities to improve upon our support of our members and their production operations.
The MaxYield Board is unanimous in supporting this study and discussions with NEW Cooperative, Inc. As we work through this process, we will share additional information with you.
Thank you for your support.
Howard Haas Keith Heim
Board Chairman Chief Executive Officer