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Business news and notes Tuesday, August 26, 2008
VeraSun's revenue soars 499 percent for quarter
BROOKINGS, S.D. -- VeraSun's revenue for the three months ended June 30 increased by 499 percent over the second quarter of 2007.
Revnues increased to $1.015 billion and generated earnings of 15 cents per diluted share.
"VeraSun exceeded one billion dollars in revenues this quarter,'' said VeraSun CEO Donald Endres. "More importantly, our large-scale allowed us to capture $73 million in EBITDA, more than double last year, in a challenging operating environment.''
VeraSun is among the largest ethanol producers in the country.
Land sale fetches $3.3 million for 570 acres
UNION GROVE, Wis. -- About 570 acres of land formerly used by Maple Leaf Farms' Racine operations recently sold for $3.3 million in an auction that attracted 115 registered bidders from four states.
"We're just pleased as we can be with the outcome, which we believe achieved the best possible price for the property,'' said Scott Tucker, co-president of Maple Leaf Farms.
Schrader Auction Company managed the auction.
Bidders spent about 90 minutes bidding on the land, which was divided into 15 tracts, according to Gary Bailey, who was Schrader's agent in charge of the sale.
Monsanto will divest from Posilac product
ST. LOUIS -- Monsanto says it is pursuing a divestiture of its dairy product -- Posilac bovine somatotropin .
"While Posilac is a strong product for the business, we believe repositioning the business with a strategic owner will allow Monsanto to focus on the growth of its core seeds and traits business while ensuring that loyal dairy farmers continue to receive the value of Posilac in their operations,'' said Carl Casale, Monsanto's Executive vice president of Strategy and Operations.
Posilac was first sold in the United States in 1994.
Rabobank predicts strong growth in agriculture
NEW YORK -- Rabobank predicts strong growth in the worldwide food and agriculture industry.
Rabobank has issued a report titled "The Boom Beyond Commodities'' that describes its opinion based on income and population growth, freer trade and globalization, and resource scarcity.
"While biofuels will be responsible for a significant share of added demand for commodities in the coming years, food will remain by far the primary consumer,'' said Rabobank vice president Michael Whitehead.
Barlass is Dairy Woman of the Year
JANESVILLE, Wis. -- Marion Barlass of Janesville will be honored as the 2008 Dairy Woman of the Year Oct. 1 by World Dairy Expo, the world's largest dairy industry event held annually in Madison.
This award has been presented since 1973 to a woman who is an active dairy producer and whose primary source of income is derived from the dairy enterprise. Selection criteria include excellence in progressive management practices, efficient milk production and breeding of quality dairy animals; and involvement in the community, government activities, marketing organizations, World Dairy Expo and other aspects of the dairy industry.
Barlass grew up on a large Jersey farm in northwestern Wisconsin, Owens Farms Inc. She was involved with 4-H, registered Jersey projects and other dairy activities while she was growing up.
Pfizer Animal Health offers new program
NEW YORK -- Pfizer Animal Health has started a new program that offers veterinarians and animal health suppliers an opportunity to support their local FFA chapters.
For eligible purchases of Pfizer Animal Health vaccines, a donation will be made on the customer's behalf to the FFA chapter of his/her choice.
Program donations can help FFA chapters with classroom materials, educational opportunities, travel to the national convention, and more.
For more information, contact your local Pfizer Animal Health representative.
Wyffels Hybrids promotes Barnard to manager
GENESEO, Ill. -- Wyffels Hybrids, the nation's largest independent seed corn company, has promoted Matt Barnard to the position of Recruitment and Skill Development manager.
He previously served the company as a district sales manager in central Illinois.
Wyffels service area includes Iowa, southern Wisconsin, Illinois and the Ohio River Valley.
BASF is making $225 million investment
RESEARCH TRIANGLE PARK, N.C. -- BASF Crop Protection plans to invest more than $225 million in additional capacity to meet the growing demand for key crop protection products.
The two-year expansion project will increase capacity at production facilities in Germany, France, Brazil and the United States for top-selling active ingredients such as F 500 boscalid, fipronil and metazachlor.
Newsham Genetics adds two to its staff
WEST DES MOINES, Iowa -- Swine genetics provider Newsham Choice Genetics has added two researchers to its Research and Development area.
Jennifer McDonald joins the team as a research scientist and Douglas Newcom was added as a breeding and genetics specialist.
Newsham is headquartered in West Des Moines and is the second-largest swine genetics supplier in North America.
NFU says $8 milllion generated by program
WASHINGTON -- The National Farmers Union says its Carbon Credit Program has generated $8 million in income for farmers.
NFU President Tom Buis said total earnings from no-till and seeded grassland offsets produced $5.8 million in income for 2006 and 2007 practices.
"As conservation leaders, we know agriculture can play an important part in offsetting greenhouse gases in our environment today,'' he said. "Now, through innovative soil stewardship activities and the carabon offsets market through the Chicago Climate Exchange, producers are rewarded for their environmental stewardship.''
Mike Hutjens named Fellow by dairy association
URBANA, Ill. -- Internationally known University of Illinois Extension dairy specialist Mike Hutjens has been named a Fellow by the American Dairy Science Association.
The award, announced earlier this month, recognizes him for "distinguished service to the dairy industry over 20 years or more.''
Hutjens has been a U of I faculty member since 1979. He is a professor of animal sciences and an Extension dairy specialist. |
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