(Sheldon)– Midwest Farmer’s Co-op of Sheldon plans to merge with Albert City-based Alceco.
After casting ballots, Midwest’s Sheldon elevator showed 83 percent of the 998 members who returned ballots approved the merger.
The cooperative, which has 1,576 members, easily met the requirements that atleast half of the ballots be returned and atleast two-thirds of those be in favor of the merger for it to proceed.
The merger is scheduled to become effective December 1st.
Midwest CEO Skip Hein says his members will become class A preferred stock shareholders in Alceco, with full rights of membership.
Ag Partners, LLC, a joint venture between Alceco and Cargill, will be the operating company.
(Story from the Associated Press.).
