Associated Milk Producers, Inc. reports $9.3 million in earnings for 2012 on sales of $1.7 billion at its annual meeting here in Bloomington, MN, this week.
Cheese production, which represents 57% of the co-op’s sales, grew 11 million lb. in 2012. Butter sales increased 5 million lb.
AMPI plans to continue to focus on core products—cheese, butter and dairy powder. Selling the Cass-Clay plant and brand in Fargo, N.D., and our cheese sauce and pudding business in Dawson, Minn. was part of that strategy, says Steve Schlangen, AMPI Board Chairman and a dairy farmer of Albany, Minn. "These two businesses accounted for only 5% of AMPI’s total annual revenue," he says.
AMPI members continue to be the sole supplier to the Cass-Clay plant, which was purchased by Kemps. The Dawson plant was closed, and milk diverted to other operations, according to AMPI’s annual report.
Total members’ equity grew from $44.8 million in 2011 to $58.2 million in 2012, a 20% increase.