April 18, 2012

Elevator merger is put on hold

By Stu Merry, BHG News Service

The proposed merger of the Falkirk Farmers Elevator and Hazen Farmers Elevator with CHS/Garrison Farmers Union Elevator could fall through. Falkirk Elevator general manager Ron Hefta tendered his resignation without a public explanation. The merger was put on hold when inconsistencies were found in financials when auditors were conducting the voluntary investigation, or due diligence process of the business. She did say, however, that CHS is committed to the long-term success of its co-ops and for the farmers that own them. “We always strive to provide solutions that are in the best interest of farmers,” she said. The Falkirk Elevator Board of Directors had no comment on the situation but stated a press release concerning the issues would be forthcoming. Director Steven Heger added that the board was working to get an interim manager at the elevator soon.



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