The Girouxville General Co-op Ltd. is celebrating 74 years in 2016, and although sales fell off slightly in 2015, the business is in a strong financial position for the future.
Such were the thoughts of Rene Blanchette, the president of the board, as he made his speech during the annual general meeting at the Girouxville community centre in the evening of April 19.
“The sluggish economy has not impacted our Co-op as severely as many other businesses,” says Blanchette.
“In times of recession, agri-based businesses such as ours tend to do better financially. Although we did lose some oilfield related commercial fuel sales in 2015, we’ve done well with sales of farm fuel and newly acquired members and customes, resulting in only a modest 2.5 per cent reduction in our overall sales over the previous year.
“We are very pleased to have ended the year on a positive note in these tough economic times. Nevertheless, we are aware that we must remain extra vigilant in these times of uncertainty.”
He also discussed the co-op’s equity and cashback program.
Blanchette also highlighted the upgrading of the company’s bulk facility near Falher.
“With three million litres of storage volume, we are confident that our fuel shortage problems that plagued us in the past are over,” says Blanchette.
“The greatest benefit, however, is that we will no longer experience margin fluctuations due to price differentials between buying and selling our fuel. This is made possible because we no longer own the fuel inventory at the plant. We are now buying and selling bulk fuel the same day as we deliver to our customers.”
He closed by noting that 2017 will make 75 years in business for the Girouxville General Co-op Ltd. and the business is planning special events for next year.
Also, he presented a watch to Gerry Lanctot, the general manager, as his 20-year service award, and one to employee Maureen Prellwitz for 25 years of service. The members’ equity cheques were handed out at the end of the meeting.