Bismarck - North Dakota Mill management today reported record profits of $14.2 million for fiscal year 2018, an increase of 46 percent over profits of $9.7 million reported for fiscal year 2017.
“With the construction of the new G Mill, the North Dakota Mill set new records in volume shipped and bushels of grain purchased and ground into high quality product. The Mill ground 32.9 million bushels of grain into flour and shipped 15.3 million hundredweight of product resulting in record gross sales of $339 million,” the Industrial Commission said in a joint statement. “This is the third-highest year of profits for the Mill, and the Mill employees are to be commended for their hard work.”
“We had great quality spring wheat and durum to work with this year and an increase in shipment volume of 6.4 percent. Both of these factors helped to increase profits. We leveraged our Food Safety System Certification 22000 to drive consistent quality and continued to provide a high level of customer service which resulted in more sales,” said North Dakota Mill President and CEO Vance Taylor.
The Mill has transferred 76.25 percent of the profits — $10,109,147 — to the state’s general fund and $709,414 to the agricultural products utilization fund. The remaining profits are used for Mill operations.
The North Dakota Mill, officially the North Dakota Mill and Elevator Association, was established in 1922 and is overseen by the Industrial Commission of North Dakota, which consists of Gov. Doug Burgum as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring.
For more information, contact:
Vance Taylor, North Dakota Mill President, 701-795-7220
Attachments: NORTH DAKOTA MILL PROFITS INCREASE.pdf