Genex Continues Growth and Expansion in Shawano
SHAWANO, Wis. - Genex Cooperative, Inc., is positioned for growth upon receiving $300,000 of low interest loan from the City of Shawano and Shawano County Revolving Loan Fund (RLF) programs. Genex will receive $175,000 from the Shawano County RLF account and $125,000 from the City of Shawano RLF account.
Despite current economics, Genex feels it is important to plan for the future and stay on the forefront of the industry. The current expansion project includes renovations to the existing Genex headquarters located on MBC Drive. These changes will enable Genex to install additional lab equipment to expand the current GenChoiceTM sorted semen product line. Adding this space and equipment will create 18 jobs in the short term with continued opportunities for growth in the long term.
"We worked closely with Genex and the City and County RLF Loan Review Committees to complete the loan application and approval process for these loans," said SCEPI Executive Director Steve Sengstock. "Like in the Genex case, RLF applications can be submitted to SCEPI at any time from businesses seeking financing for their projects."
Also included in the project is an expansion to the Stony Hill facility located off Highway 29 west of Shawano, Wis. This portion of the project will allow for more bulls to be housed in Shawano, increasing the efficiency and diversity of the Genex lineup.
"We are aggressively gearing the new technologies of genomics and sorted semen to build for the future and not withdraw for the sake of cost reduction. We have launched what we believe is an important sorted semen choice during these economic times - GenChoice 75TM. Development of this product line is an investment in the future," stated Doug Wilson, Chief Operating Officer for Genex.
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Genex received a loan from the City of Shawano and the Shawano County Revolving Loan Fund program for facility renovations and expansions. Those individuals involved include (left to right) Ron Malueg, Chair of the City of Shawano Revolving Loan Fund Committee; Larry Romuald, Genex Vice President of Finance; Glen Gilbert, Genex Vice President of Production; and Jim Stadler, City of Shawano Administrator. |
Genex is a subsidiary of Cooperative Resources International (CRI). CRI, a member-owned holding cooperative, is comprised of three subsidiaries: Central Livestock Association, AgSource Cooperative Services and Genex. The CRI mission statement summarizes the goal of CRI: "To provide products and services as effectively as possible to maximize the profitability of members and customers worldwide while maintaining a strong cooperative."
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