Scoular buys corn processing facility
May 1, 2014
by Eric Schroeder
OMAHA — The Scoular Co. has acquired Hi-Pro Feeds Inc.’s corn processing facility in Dexter, N.M. Built in 2002, the corn processing facility produces steam-flaked and rolled corn. It includes a shuttle train loop track connected to BNSF’s Southwestern line capable of handling a 110-car unit train and storage capacity for 850,000 bus of corn. Financial terms of the transaction were not disclosed.
“We will focus on bringing corn to the area as efficiently and cost-effectively as possible for use by eastern New Mexico dairy operations,” said Bob Ludington, chief operating officer for Scoular.
Merchandising and accounting for the facility will be directed by Curt Greiner in Scoular’s office in Omaha.
“We are confident that Scoular, with its deep understanding of grain trading and handling, along with its assets in the U.S. grain belt, will be able to serve the New Mexico market competitively,” said Daren Kennett, senior vice-president and founder of Hi-Pro Feeds.
Dean Prevost, chief executive officer of Hi-Pro, said Hi-Pro will continue operating its feed mills in South Dexter and Clovis, N.M.; Cheyenne, Okla.; Friona and Comanche, Texas; and seven mills in Canada.
“We remain committed to our customers in the market surrounding Dexter and those in the dairy business,” Mr. Prevost said. “We are invested in the market and will continue to focus on delivering value-added feed products through our South Dexter and Clovis facilities, as well as our mills in Oklahoma, Texas and seven mills in Canada.”