With the purchase, Landus will gain more than 2.3 million bushels of grain storage capacity, including 775,000 bushels of upright storage, more than 1.5 million bushels of bunker storage and 32,000 bushels per hour of receiving capacity.
Ames, Iowa-based Landus is scheduled to take possession of the facility on June 1.
|Milan Kucerak, chief executive officer for Landus|
“This Manilla, Iowa, site is a strategic purchase for Landus Cooperative and farmers in western Iowa,” explained Milan Kucerak, chief executive officer for Landus. “While this grain asset has been well cared for, we expect to improve efficiency on behalf of the customer by utilizing best practices from our nearly 60 grain locations in Iowa.
“Our domestic and international grain end-users continue to demand high-quality corn and soybeans, and we know Crawford County, Iowa farmers can help meet that demand.”
Under terms of the purchase agreement, ADM and Landus plan to honor all outstanding grain contracts.
|Roger Fray, chief commodity marketing officer for Landus|
“We are anxious to begin working with growers in and around Crawford County and want to make their transition to Landus Cooperative as seamless as possible,” said Roger Fray, chief commodity marketing officer for Landus. “Our Cooperative Advantage Package of more than a dozen marketing alternatives combined with our patronage opportunities make membership in Landus Cooperative an attractive option for former ADM customers.”
Landus also plans to host a grower meeting shortly after final documents are signed and the facility changes ownership.
According to the Sosland Publishing’s 2018 Grain & Milling Annual, ADM currently ranks first in North American grain storage capacity with 468,465,850 bushels while Landus Cooperative ranks sixth with 174,119,000 bushels.
Landus is a farmer-owned agricultural cooperative that has about 600 full-time employees at locations in more than 60 communities in Iowa and Minnesota, and approximately 7,000 member-owners.