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Copyright © 2001 Eastern Ontario Farmers Forum Inc. All Rights Reserved

Agri-West Co-op cuts most of its losses

KEMPTVILLE — After a devastating 2001, Agri-West Corporation turned its business around.

In 2001, the company, with six farm supply stores, had an operating loss of $387,359 on sales of $11.6 million. But losses last year were only $16,000. Sales last year reached almost $10.5 million.

President Charles Bennett says the company shows promise of much better times and should have a profit this year.

He gives much credit for the recovery to the management team at the Embrun Co-operative, which was hired to oversee the financial management. "They’re a very successful company," says Bennett. "They have over $42 million in sales and profits between $300,000 and $400,000 this year."

Tightening up management was the main reason for the turn around. Sales dropped about $1 million from 2001 to 2002 but operation costs dropped by $1.2 million. The job now is to get back some of the sales that have been lost, he says.

The turn-around has been achieved through the diligence of staff, he says. "I’m grateful our patrons have stayed with us."

The turnaround comes after a decade in which the co-operative has been restructured twice. The first came in 1994 when the company, then Golden Triangle, joined with Agri-Est after having trouble borrowing operating money. Several years later it was taken over by Growmark, which is the main supplier today.

Agri-West, with head office in Kemptville,has six outlets in eastern Ontario and sales of more than $10 million, reaching the goal the company set for itself back in 1994.

Outlets are in Kemptville, Brockville, Carp, Chesterville, Finch and North Gower.