Volume, profits up at North Dakota Mill
Aug. 1, 2013
by Eric Schroeder
BISMARCK, N.D. — Net earnings at North Dakota Mill in the year ended June 30 were $11.9 million, up 48% from $8 million in fiscal 2012 and compared with $16.1 million in fiscal 2011. It marked the third most profitable year in the company’s 90-year history. The mill also had record gross sales of $318 million.
“Increased profits were driven by an increase in shipment volumes of 3.01%, an excellent quality spring wheat and durum crop produced by North Dakota farmers and improved plant efficiency achieved through the efforts of State Mill employees,” said Vance Taylor, the mill’s general manager. “We continue to leverage our ISO22000/PAS220 certification that requires a commitment to continuous improvement and consistent quality.”
Doug Goehring, agriculture commissioner for North Dakota, said the mill’s profitability reflected the work of the state’s farmers, who sold a record 25.5 million bus of grain to the mill, and the millers, who produced record shipments of 1.1 billion lbs of flour.
The mill has transferred about 52% of the profits —$5,625,933 — to the state’s general fund and $595,361 to the agriculture fuel tax fund. The remaining profits are used for mill operations.