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Business news and notes Tuesday, April 18, 2006
Deere CEO challenges Iowa to invest
CEDAR FALLS, Iowa -- Iowans need to make strategic investments that will keep their state competitive in a changing global marketplace, the Chief Executive Officer of Deere & Co. says.
Speaking during the recent Hoover-Wallace Dinner at Park Place Even Centre, Robert Lane said the reality was that "well-educated people outside the U.S. are often willing to work smart, hard and for less money."
Iowans, he said, "must continually resist the temptation" to ignore such changes and must be prepared to take advantage of the opportunities they present.
The Hoover-Wallace Dinner was founded by the World Food Prize Foundation, and the $125-a-plate dinner serves both as a fundraiser and an opportunity to honor humanitarian efforts by individual Iowans and companies.
Proceeds from the dinner support the foundation's Borlaug-Ruan International Internship Program, which sends Iowa high school seniors to work with scientists throughout the world.
The award is named after two native Iowans, former President Herbert Hoover, and former Vice president Henry A. Wallace.
Deere & Co. and its founder, John Deere, were this year's recipients of the award.
ADM, Siouxland Ethanol form marketing pact
DECATUR, Ill. -- Archer Daniels Midland Company and Siouxland Ethanol LLC have formed an ethanol marketing agreement.
As part of this marketing agreement, ADM will market all ethanol produced by Siouxland Ethanol at its 50-million-gallon Jackson, Neb., facility. Construction has begun and the plant is expected to be operational in early 2007. In addition to producing ethanol, the plant will produce an estimated 165,000 tons of distiller grains on an annual basis from 18 million bushels of corn.
"We recognized early on that the transportation of ethanol would be a key component in making Siouxland Ethanol a successful company," said Tom Lynch, president of Siouxland Ethanol.
"By creating fuel from American crops, ethanol producers help increase demand for the harvest, improve our environment and reduce our nation's dependence on foreign oil," said Martin Lyons, division senior vice president of ethanol sales and marketing.
Cornucopia sues USDA over records release
CORNUCOPIA, Wis. -- The Wisconsin-based Cornucopia Institute has filed a lawsuit in federal court seeking to compel the U.S. Department of Agriculture to provide public records sought through several Freedom of Information Act requests.
Cornucopia is a farm policy research group and organic farm watchdog.
"We have gone into federal court because the USDA has been unwilling to provide us with important records that would help us and our farmer-members and consumers understand why the USDA has delayed enforcement of key federal organic farming standards for five years,'' said Will Fantle, the institute's research director. "These are documents that they are obligated by law to share with the public.''
Illinois will get $140 million ethanol plant
GALVA, Ill. -- A $140 million ethanol plant that will use about 36 million bushels of locally grown corn a year is coming to west central Illinois, company officials said.
Construction of the plant will begin next year on 192 acres currently occupied by Lincoln Land Rail LLC in Galva, located about 50 miles northwest of Peoria, said company president Mike Rumbold.
The plant will be capable of producing 100 million gallons of the corn-derived fuel a year when it is finished by 2008, Rumbold said. Big River Resources LLC, based in West Burlington, Iowa, will then take over operations at the entire facility.
"The ethanol industry is growing at an unprecedented pace," Raymond Defenbaugh, Big River Resources CEO and president, said in a statement.
Golden Oval Eggs hires Armstrong
RENVILLE, Minn. -- Golden Oval Eggs Chief Executive Officer Dana Persson announced that Jerry E. Armstrong has joined the company as vice president of Human Resources and Chief Administration Officer.
"Jerry Armstrong's experience in organizational development and the food industry from both start-up operations as well as acquisitions for rapidly growing companies will greatly benefit Golden Oval Eggs," said Persson.
Most recently, Armstrong was vice president of Human Resources/Organizational Development and Administration for the Student Loan Finance Corporation of Aberdeen, S.D.
Established in 1994, Golden Oval Eggs, is an egg production and processing company based in Renville. Golden Oval Eggs operates two complexes in Renville and Thompson, Iowa.
Tyson Foods shuts down production lines
SIOUX CITY, Iowa -- Tyson Foods shut down production lines at meatpacking plants in Iowa and Nebraska because workers planned to participate in rallies protesting proposed federal immigration laws.
Tyson closed production lines at plants in Denison, Dakota City, Neb., and Madison, Neb., April 10, spokesman Gary Mickelson said.
Conditions of the livestock markets also contributed to the decision to shut down 10 of Tyson's 100 plants nationwide, he said. |
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