36—Lancaster Farming, Saturday. April 9. 1977
Le-Hi shows
continued
financial
improvement
ALLENTOWN, Pa. -
Lehigh Valley Cooperative
Farmers on Tuesday
reported continued im
provement in its financial
position for the fiscal year
ending January 31, 1977.
Robert P. Barry,
president, told the 'annual
meeting that results for the
year show a bottom line' loss
of $276,501, primarily due to
restructuring of loan
agreements which favorably
impacted operations. This
compares to a loss of $l-8
million in fiscal 1975, and
represents a dramatic im
provement in the financial
position of the Cooperative
the best in many years,
Barry said
Sales for the 630-member
organization, the largest
mflk processing cooperative
in Pennsylvania, reached “a
record $98.9 million, he
reported.
Barry told the meeting
that milk business at the
Cooperative’s Lansdale and
Schuylkill Haven plants was
profitable, representing a
turn-around in operations
from 1975. He said
operations at the Allentown
hard cheese plant showed
significant improvement
foUowing termination of a
contract with Kraftco and
the signing of three major
new customers for cheese
products.
Lehigh’s frozen dessert
operations, however, suf
fered as a direct result of the
concentration and effort
successfully expended in
turning around the milk and
cheese business, Barry
pointed out. He noted that
introduction of the Dolly
Madison Ice Cream product
line encountered the most
competitive market in the
history of the ice cream
business, with subsequent
effect on profits.
“We do expect our frozen
dessert business to be
profitable in the coming
year,” he stated.
Barry said he has every
confidence that several
major steps taken in 1976 will
bear fruit in fiscal 1977.
- An agreement was signed
with Eskimo Pie Corp.,
putting Lehigh into large
volume production of ice
cream specialties and
novelties for distribution
under both labels.
- A $1 million plant im
provement program was
initiated aimed at increasing
productivity and achieving
significant operating cost
efficiencies, especially in
production ot cultured
products.
- Lehigh spearheaded
formation of the Middle
Atlantic Milk Marketing
Association (MAMMA), an
association of six
cooperatives in Federal
Order 4 organized to assure a
market for excess milk and a
fair price to farmers
MAMMA will utilize
I thigh’s cheese plant to
process milk into barrel
cheddar cheese and 40 pound
block cheese for sale to the
government and for com
mercial sale as well
Hi > H
vIS-
Le-Hi President
Robert Barry
- Eastern Milk Producers
and Mt. Joy Farmers
Cooperative joined Lehigh as
Limited Members, further
adding to the supply of milk
available at a stabilized
price necessary for efficient
and profitable operation.
- Penn Lea Company,
owned jointly by Lehigh and
Penn Maid, Inc., was formed
to produce and market
frozen yogurt for the first
time in several eastern
states. Acceptance of this
new product thus far by
retail outlets and consumers
has been excellent, Barry
reported.
- Negotiations to expand
distribution of frozen dessert
products to Florida have
been initiated, with in
dications of successful
completion in the near
future.
Each of these steps,
along with others in the
planning stage, is fully ex
pected to contribute toward
profitalbe operations in 1977,
Barry said
At’ the meeting, the
membership elected Roy W.
Hetrick of Bemville as a
director-at-large. New
members of the Board of
Directors elected buy two of
the Cooperative’s seven
membership districts are
Robert Gehman of
Coopersburg, and Earl
Reighard of Woodbury, Pa.
READ
LANCASTER
FARMING
FOR FULL
MARKET
REPORTS
ERTH-RITE
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Phone 717-442-4171
Mower-Conditioner
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